Veteran HDFC executive Mathew Joseph to remain CRO for two more years

The top executive at Housing Development Finance Corporation (HDFC) and current Chief Risk Officer (CRO) at the company, Mathew Joseph is set to remain at the helm of the company for another two years. The mortgage lender has announced to extend Joseph’s tenure that was likely to end on June 1 this year by another two years.

“The board also approved re-appointment of Mathew Joseph, Member of Executive Management as the Chief Risk Officer of the Corporation for a period of 2 years with effect from June 1, 2021, up to May 31, 2023,” HDFC said in a regulatory filing along with its earnings document.

According to a company statement, Joseph joined HDFC in 1988 in its Chennai office and rose up the ranks managing the business of the Corporation across the southern states for 30 years. A veteran in his field, Joseph will continue to play an important role in key company decisions.

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Meanwhile, according to the ministry of corporate affairs, any private lenders in India can have a separate post of CRO in their respective organisational structure.