In a major development, former HDFC Bank managing director Aditya Puri has joined the Carlyle Group. Puri has joined the US-based global investment firm as a senior advisor. Puri will advise the Carlyle team on investment opportunities across Asia.

Puri will provide guidance on the evolving market landscape and new investment opportunities, while also advising Carlyle’s investment professionals and portfolio management teams on building differentiated high quality businesses.

With $230 billion of assets under management as of September 30, 2020, Carlyle deploys private capital across four business segments– Corporate Private Equity, Real Assets, Global Credit and Investment Solutions.

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“Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth. I am very impressed with Carlyle’s track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia,” Puri said.

Puri, who has led HDFC Bank since its inception over 25 years ago, retired last Monday after a highly successful career which has made his bank the largest among private sector lenders.

While heading a foreign bank’s operations in Malaysia in the early 1990s, Puri got an offer from Deepak Parekh of mortgage major HDFC to come back to India to start a bank in an economy which had shifted gears with liberalization moves.