RBL Bank Lines Up HDFC Veteran Lakhpatwala as First Senior Hire Since Emirates NBD Deal

RBL Bank is set to make its first high-profile appointment since its deal with Emirates NBD, with HDFC Bank veteran Bhavin Lakhpatwala likely to join as Chief Financial Officer (CFO), Moneycontrol reported. He would replace Deepak Ruiya, who has been serving as interim CFO since December 2025.

A specific timeline for Lakhpatwala's appointment has not been confirmed, though the report added that an announcement was expected in the coming weeks. The appointment remains subject to board approval and a clearance from the Reserve Bank of India.

Lakhpatwala stepped down from HDFC Bank a few days ago, where he last served as Senior Executive Vice President. He had been associated with HDFC Bank since 2011, holding various positions over his tenure, according to his LinkedIn profile. He has also previously worked with auditing firm Deloitte and Ageas Federal Life Insurance. He was also considered a candidate to succeed the current CFO at HDFC Bank, the report stated.

Ruiya took charge as interim CFO after the previous CFO, Buvanesh Tharashankar, resigned on December 15, 2025, to pursue opportunities outside the bank. Ruiya had previously served as Deputy CFO of RBL Bank from March 2023.

The Mumbai-headquartered bank has seen a series of senior management changes in recent months. In December, Jaideep Iyer, formerly Head of Strategy, was appointed as Additional Director and Executive for a three-year term beginning February 21. Pushpendra Sharma, who headed the digital banking unit, also exited the bank in late December, after which the unit was merged with RBL's broader technology function.

The most significant departure was the retirement of Rajeev Ahuja, who had been associated with the bank since 2010 and was central to its transformation from Ratnakar Bank.

In May 2026, the RBI granted final approval for Emirates NBD to acquire a 60% controlling stake in RBL Bank for ₹26,850 crore, or around $3 billion. The transaction resulted in RBL being classified as a foreign bank subsidiary of the UAE-based lender. As part of the deal, Emirates NBD also made an open offer to acquire an additional 26% stake in the bank.