Aditya Puri: leaving the top job to start a bank
In the early 1990s, Aditya Puri had spent many years with Citibank and, from 1992, was chief executive of its Malaysian business: a senior, secure position in one of the world's largest banks. India was opening its banking sector to new private banks.
In September 1994 he returned to India as managing director of a new bank being set up by the housing finance company HDFC: HDFC Bank. He led it for about 26 years, stepping down on 26 October 2020, by which time it had become one of India's largest banks. He was succeeded by Sashidhar Jagdishan.
What the Puri story teaches
- Move towards a bigger purpose. Leaving a secure role made sense because of what he could build, not because the old job was bad.
- Timing matters. India opening banking to new private banks created the opportunity. Watch for moments when your market changes.
- Stay long enough to build. Staying for decades let the move pay off. A good move is followed by years of commitment.
Chapter 1: Know when to move
Move for the next stage of learning and responsibility, not to escape a bad month. Clear signs tell you when it is time.
- Recognise the signs of having outgrown a role
- Tell a bad patch from a real ceiling
- Decide whether to look now
This article is adapted from the book. Examples marked “Example” use invented names and numbers; company stories are based on public sources listed in the book. For general learning; use your own judgement for your situation.
