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The story of CA Deepak Parekh, Chairman Of HDFC

In this edition of Jobaaj stories, we bring to you this narrative about CA Deepak Parekh, an Indian Businessman, the chairman of HDFC( Housing Development Finance Corporation), and a kickass Chartered Accountant.

Let’s know more about him.

Education and early life

Born on 18 October 1944, CA Deepak Parekh did his schooling from St. Xavier’s High School, Fort, and went on to graduate with a B.Com degree from Sydenham College affiliated with the University of Mumbai.

He then went on to England and got qualified as a Chartered Accountant with the ICAEW. This was in 1965. Imagine being so academically oriented that you feel the need to complete your CA from England!

In any case, he did his articleship with Ernst & Young ( which was then called Whinney, Smith, and Whinney). Expected from a prodigy, he also cleared his ACA exam in the first attempt and was subsequently posted at Ernst & Ernst(the consulting arm of Whinney, Smith, and Whinney) in New York.

He also went on to clear the CAIIB (Certified Associate of Indian Institute of Bankers) from the Indian Institute of Banking and Finance.

Paving the Professional journey

It was in 1978 that Deepak Parekh joined HDFC. Before that, he had already worked with Ernst and young, Grindlays Bank, and Chase Manhattan Bank.

Here are some more of Deepak Parekh’s professional undertakings:

  • He worked as the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), which was a specialized financial institution for financing infrastructure projects.
  • He serves as the Non-Executive Chairman of Glaxo India Ltd & Burroughs Wellcome (India) Ltd.
  • He is also on the Board of various companies such as Castrol India Limited, SingTel, and many more.
  • Deepak Parekh is also the advisory board member of the AIESEC India and US Engineering consultancy giant.

He has also served the government of India by heading various governmental committees. 

Furthermore, He was also appointed by The Reserve Bank of India as the Chairman of the Advisory Group for Securities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries.

Accolades and Appreciations

Deepak Parekh has won several awards for his business skill as well as his intellect and leadership roles, some of which are:

  • Awarded the Businessman of the Year 1996 from Business India.
  • Awarded the JRD Tata Corporate Leadership Award by All India Management Association (AIMA). 
  • The first person to be awarded the Qimpro Platinum Award for Quality for his contributions to the services sector.
  • The youngest recipient of the Corporate Award for Life Time Achievement by the Economic Times.
  • He is also the first international recipient of The Institute of Chartered Accountants in England and Wales’ Outstanding Achievement Award.
  • And finally, he has also been conferred the prestigious award of the Padma Bhushan

Jobaaj stories brings this article to you in association with Jobaaj.com

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