Deepak Parekh, the Chairman of HDFC Bank, serves as a member on the IIHS board.
Born in 1944, Deepak did his Chartered Accountancy from the Institute of Chartered Accountants in England and Wales (ICAEW).
Deepak began his career in 1970 with Ernst and Young Management Consultancy Services in New York and worked with Grindlays Bank and Chase Manhattan Bank in Mumbai before joining HDFC in 1978 a year after its inception, as deputy general manager. He went on to become its chairman in 1993. Deepak has steered HDFC to its current position as not just the market leader in housing finance but also as a financial conglomerate with a presence in banking, asset management, life insurance, general insurance and a real estate venture fund.
Besides the HDFC group companies, Deepak is on the board of several leading corporations across diverse sectors. He is the non-executive chairman of GlaxoSmithkline Pharmaceuticals, Infrastructure Development Finance Company (IDFC), Lafarge India and Siemens India Ltd. He is also on the boards of Castrol lndia Limited, Hindustan Unilever Limited, Mahindra & Mahindra Limited, Indian Hotels Company Limited among others and international boards of Singapore Telecommunications Ltd. (Singapore) and WNS Global Services Pvt. Ltd. (USA). Deepak is also nominated by the Civil Aviation Ministry to the Board of Airports Authority of India.
In addition to being known for his views seeking standardisation and transparency in the real estate sector, Deepak has also acted as an advisor to the government during crisis situations like UTI in the late 1990s and more recently, Satyam, to recommend measures for sustaining investor confidence.
Deepak is an active member of various high-powered economic groups, government-appointed advisory committees and task forces which include financial services, capital markets and infrastructure sector reforms. Some of these include heading the Rajiv Awas Yojna, a committee to suggest ways of making Indian cities slum-free, membership of a high level committee to stem BSNL’s deteriorating financial health and bring it up to competitive standards, chairmanship of the New Pension Scheme Expert Group, chairmanship of the High Level Task Force on Affordable Housing, membership of the Investment Commission for greater FDI inflows into India, membership of Comptroller and Auditor General of India (C&AG)’s Audit Advisory Board, among others.