Aditya Puri, managing director of HDFC Bank, has been included in Barron’s list of Top 30 Global CEOs for the third consecutive year. The magazine gives awards to CEOs in three categories- visionary founders, growth leaders, and turnaround experts. Puri has been named in the category of ‘Growth Leaders’.
The 14th edition of the international publication includes the CEOs of big companies – Jeff Bezos of Amazon, Warren Buffett of Berkshire Hathaway, Jamie Dimon of JPMorgan Chase, Larry Page of Alphabet, Reed Hastings of Netflix, Satya Nadella of Microsoft and Mark Zuckerberg of Facebook.
Aditya Puri has been the managing director of HDFC Bank since its inception in 1994. The magazine wrote in his profile, “He turned a start-up into a banking giant, and helped bring Indians into the modern financial era. Even after 24 years at the helm, Puri, 67, elicits effusive praise from investors, with descriptions ranging from “one of the most impressive CEOs we have come across” to a “great man who has built a great bank.”
The magazine stated, “The career banker methodically built a start-up into India’s second-largest private-sector bank by market value. He reliably minted money by serving the country’s burgeoning middle class and avoided pitfalls like the bad corporate loans and governance scandals now tripping up rivals. Although Puri shuns personal electronic devices and email, he has embraced technology at the bank, using it to tap the country’s millions of unbanked citizens. The goal, he says, is to offer anything related to money, whether for paying bills, securing a mortgage, or investing, at the click of a button, as effortlessly as one downloads movies from Netflix. In this way, he hopes to stay ahead of any Amazon entry into financial services.”
The methodology for selection includes the screening of S&P 500 index and 250 largest non-U.S. companies and compares them on several parameters ranging from revenue, earnings growth, and share-price performance over a five-year period. Every year it excludes about a third of its previous year’s winners to feature newcomers.