Deepak Satwalekar
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| Deepak Satwalekar | |
|---|---|
| Born | |
| 💼 Occupation | Corporate executive, board director |
| Known for | Managing Director of Housing Development Finance Corporation, MD & CEO of HDFC Life |
| 👩 Spouse(s) | Maya Satwalekar |
| 👴 👵 Parent(s) | Madhav Satwalekar (father) |
| 👪 Relatives | Shripad Damodar Satwalekar (grandfather) Vikas Satwalekar (brother) |
| 🏅 Awards | Distinguished Alumnus Award, IIT Bombay |
Deepak Madhav Satwalekar is an Indian business executive. He served as the Managing Director of Housing Development Finance Corporation (HDFC)[1] and as the founding Managing Director and CEO of HDFC Standard Life Insurance.[2] He has also served on the boards of Indian companies including Infosys, Wipro, and Asian Paints.[3][4][5] He was reported to be "the No.2 man in HDFC."[1] He's mentioned extensively in the book, A Bank for the Buck where he suggests the name Bombay International Bank for the proposed HDFC Bank, which gets rejected.[6]
Early life and education
Satwalekar comes from a Maharashtrian family. His father was the painter Madhav Satwalekar, and his grandfather was Sanskrit scholar Shripad Damodar Satwalekar. His brother, Vikas Satwalekar, was the executive director of the National Institute of Design (NID).[7]
Satwalekar graduated with a Bachelor of Technology in mechanical engineering from the Indian Institute of Technology Bombay (IIT Bombay) in 1971. He received a Master of Business Administration from the Kogod School of Business at American University in 1977.[4][8][9]
Career
Satwalekar joined HDFC and became its managing director in 1993.[4] In 2000, following the deregulation of the Indian insurance sector, he was appointed founding managing director and CEO of HDFC Standard Life Insurance (now HDFC Life). He served in this role until November 2008.[10] He suggested the name of proposed HDFC Bank to be Bombay International Bank
Board memberships
Satwalekar was an independent director on the board of Infosys from 1997 to 2013. He has also served as non-executive chairman of Asian Paints and held directorships at Tata Power,[11] Piramal Enterprises, the National Stock Exchange of India, and Home First Finance Company.[4] In July 2020, he was named lead independent director of Wipro.[10]
He has served as a consultant on housing finance to multilateral organizations, including the World Bank, the Asian Development Bank, USAID, and UN-Habitat.[12][4] He also chaired the Reserve Bank of India Committee on Corporate Governance in Public Sector Banks.[13]
Non-profit and education
Satwalekar is a trustee of the Infosys Science Foundation. He was previously chairman of the board of governors of the Indian Institute of Management Indore and has served on the advisory boards of educational non-profits including Teach For India and Isha Vidhya.[4]
Awards and recognition
Satwalekar received the Distinguished Alumnus Award from IIT Bombay.[4]
Personal life
Satwalekar is married to Maya Satwalekar. The couple funded the Deepak and Maya Satwalekar Design and Making Lab at IIT Bombay as part of the institute's MakerSpace initiative.[14][15]
References
- ↑ 1.0 1.1 Abreu, Robin (2012-07-25). "The details man". India Today. Retrieved 2026-09-08.
- ↑ "rediff.com Money: The Rediff Money Interview / Deepak Satwalekar". m.rediff.com. Retrieved 2026-09-08.
- ↑ "Deepak M. Satwalekar leadership profile". Wipro. Retrieved 27 August 2026.
- ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 "Deepak Satwalekar - Board & Founding Members". Indian Institute for Human Settlements. Retrieved 27 August 2026.
- ↑ "Asian Paints Appoints R. Seshasayee as Chairman". Coatings World. 2023-07-28. Retrieved 2026-09-08.
- ↑ Bandopadhyaya, Tamal (2012-11-24). A Bank For The Buck : The Story Of HDFC Bank. Jaico Publishing House/Mumbai/India. p. 16. ISBN 978-81-8495-396-1. Search this book on
- ↑ "Former executive director of NID passes away". The Indian Express. 2 July 2020. Retrieved 27 August 2026.
- ↑ "Deepak M Satwalekar to retire from the Infosys Board of Directors". www.sec.gov. November 13, 2013. Retrieved 2026-09-08.
- ↑ Cappelli, Peter, ed. (2010). The India way: how India's top business leaders are revolutionizing management. Boston, Mass: Harvard Business Press. pp. 180–181. ISBN 978-1-4221-4759-7. Search this book on
- ↑ 10.0 10.1 "Wipro Reappoints Deepak M. Satwalekar As Independent Director". Board Stewardship. Retrieved 27 August 2026.
- ↑ "Relics in Boardrooms?". Business Today: 36. 14 June 2009.
- ↑ PTI (2020-05-29). "Wipro appoints Deepak M Satwalekar to its Board". The Statesman. Retrieved 2026-09-08.
- ↑ "Chairperson's Role in Board Governance and Managing Dissent". Egon Zehnder. Retrieved 27 August 2026.
- ↑ "Director's Circle - Mr. Deepak Satwalekar". IIT Bombay Alumni Corporate Relations. Retrieved 27 August 2026.
- ↑ "IITB Distinguished Alumnus, Mr. Deepak Satwalekar, sets up the 'Deepak and Maya Satwalekar Design and Making Lab'". IIT Bombay Alumni Corporate Relations. Retrieved 27 August 2026.
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