Created page with "{{Short description|Indian business executive and corporate advisor}} {{Infobox person | name = Deepak Satwalekar | occupation = Corporate executive, board director | known_for = Managing Director of Housing Development Finance Corporation, MD & CEO of HDFC Life | parents = Madhav Satwalekar (father) | relatives = Shripad Damodar Satwalekar (grandfather)<br>Vikas Satwalekar (brother) | spouse = Maya Satwalekar | awards = Dist..." |
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'''Deepak Madhav Satwalekar''' is an Indian business executive. He served as the Managing Director of [[Housing Development Finance Corporation]] (HDFC)<ref name=":0">{{Cite web |last=Abreu |first=Robin |date=2012-07-25 |title=The details man |url=https://www.indiatoday.in/magazine/economy/story/19991108-xyz-762469-2012-07-25 |access-date=2026-09-08 |website=India Today |language=en}}</ref> and as the founding Managing Director and CEO of [[HDFC Life|HDFC Standard Life Insurance]].<ref>{{Cite web |title=rediff.com Money: The Rediff Money Interview / Deepak Satwalekar |url=https://m.rediff.com/money/2000/nov/04inter.htm |access-date=2026-09-08 |website=m.rediff.com}}</ref> He has also served on the boards of Indian companies including [[Infosys]], [[Wipro]], and [[Asian Paints]].<ref>{{cite web |title=Deepak M. Satwalekar leadership profile |url=https://www.wipro.com/leadership/deepak-m-satwalekar/ |access-date=27 August 2026 |website=Wipro}}</ref><ref name="IIHSBio">{{cite web |title=Deepak Satwalekar - Board & Founding Members |url=https://iihs.co.in/about/people/deepak-satwalekar/ |publisher=Indian Institute for Human Settlements |access-date=27 August 2026}}</ref><ref>{{Cite web |date=2023-07-28 |title=Asian Paints Appoints R. Seshasayee as Chairman |url=https://www.coatingsworld.com/breaking-news/asian-paints-appoints-r-seshasayee-as-chairman/ |access-date=2026-09-08 |website=Coatings World |language=en-US}}</ref> He was reported to be "''the No.2 man in HDFC''."<ref name=":0" /> 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.<ref>{{Cite book |last=Bandopadhyaya |first=Tamal |url=https://archive.org/details/bankforbucknewba0000band/page/n17/mode/1up?q=Satwalekar |title=A Bank For The Buck : The Story Of HDFC Bank |date=2012-11-24 |publisher=Jaico Publishing House/Mumbai/India |isbn=978-81-8495-396-1 |page=16}}</ref> | '''Deepak Madhav Satwalekar''' is an Indian business executive. He served as the Managing Director of [[Housing Development Finance Corporation]] (HDFC)<ref name=":0">{{Cite web |last=Abreu |first=Robin |date=2012-07-25 |title=The details man |url=https://www.indiatoday.in/magazine/economy/story/19991108-xyz-762469-2012-07-25 |access-date=2026-09-08 |website=India Today |language=en|archive-url=https://web.archive.org/web/20191211110742/https://www.indiatoday.in/magazine/economy/story/19991108-xyz-762469-2012-07-25 |archive-date=2019-12-11 |url-status=live }}</ref> and as the founding Managing Director and CEO of [[HDFC Life|HDFC Standard Life Insurance]].<ref>{{Cite web |title=rediff.com Money: The Rediff Money Interview / Deepak Satwalekar |url=https://m.rediff.com/money/2000/nov/04inter.htm |access-date=2026-09-08 |website=m.rediff.com|archive-url=https://web.archive.org/web/20261009034605/https://m.rediff.com/money/2000/nov/04inter.htm |archive-date=2026-10-09 |url-status=live }}</ref> He has also served on the boards of Indian companies including [[Infosys]], [[Wipro]], and [[Asian Paints]].<ref>{{cite web |title=Deepak M. Satwalekar leadership profile |url=https://www.wipro.com/leadership/deepak-m-satwalekar/ |access-date=27 August 2026 |website=Wipro|archive-url=https://web.archive.org/web/20261009034700/https://www.wipro.com/leadership/deepak-m-satwalekar/ |archive-date=2026-10-09 |url-status=live }}</ref><ref name="IIHSBio">{{cite web |title=Deepak Satwalekar - Board & Founding Members |url=https://iihs.co.in/about/people/deepak-satwalekar/ |publisher=Indian Institute for Human Settlements |access-date=27 August 2026|archive-url=https://web.archive.org/web/20261009034740/https://iihs.co.in/about/people/deepak-satwalekar/ |archive-date=2026-10-09 |url-status=live }}</ref><ref>{{Cite web |date=2023-07-28 |title=Asian Paints Appoints R. Seshasayee as Chairman |url=https://www.coatingsworld.com/breaking-news/asian-paints-appoints-r-seshasayee-as-chairman/ |access-date=2026-09-08 |website=Coatings World |language=en-US|archive-url=https://web.archive.org/web/20250723230143/https://www.coatingsworld.com/breaking-news/asian-paints-appoints-r-seshasayee-as-chairman/ |archive-date=2025-07-23 |url-status=live }}</ref> He was reported to be "''the No.2 man in HDFC''."<ref name=":0" /> 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.<ref>{{Cite book |last=Bandopadhyaya |first=Tamal |url=https://archive.org/details/bankforbucknewba0000band/page/n17/mode/1up?q=Satwalekar |title=A Bank For The Buck : The Story Of HDFC Bank |date=2012-11-24 |publisher=Jaico Publishing House/Mumbai/India |isbn=978-81-8495-396-1 |page=16}}</ref> | ||
== Early life and education == | == 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).<ref name="ExpressObit">{{cite news |title=Former executive director of NID passes away |url=https://indianexpress.com/article/india/former-executive-director-of-nid-passes-away-6485841/ |newspaper=[[The Indian Express]] |date=2 July 2020 |access-date=27 August 2026}}</ref> | 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).<ref name="ExpressObit">{{cite news |title=Former executive director of NID passes away |url=https://indianexpress.com/article/india/former-executive-director-of-nid-passes-away-6485841/ |newspaper=[[The Indian Express]] |date=2 July 2020 |access-date=27 August 2026|archive-url=https://web.archive.org/web/20200701210733/https://indianexpress.com/article/india/former-executive-director-of-nid-passes-away-6485841/ |archive-date=2020-07-01 |url-status=live }}</ref> | ||
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.<ref name="IIHSBio" /><ref>{{Cite web |date=November 13, 2013 |title=Deepak M Satwalekar to retire from the Infosys Board of Directors |url=https://www.sec.gov/Archives/edgar/data/1067491/000106749113000063/exv99w01.htm |access-date=2026-09-08 |website=www.sec.gov}}</ref> | 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.<ref name="IIHSBio" /><ref>{{Cite web |date=November 13, 2013 |title=Deepak M Satwalekar to retire from the Infosys Board of Directors |url=https://www.sec.gov/Archives/edgar/data/1067491/000106749113000063/exv99w01.htm |access-date=2026-09-08 |website=www.sec.gov|archive-url=https://web.archive.org/web/20261009034820/https://www.sec.gov/Archives/edgar/data/1067491/000106749113000063/exv99w01.htm |archive-date=2026-10-09 |url-status=live }}</ref> | ||
== Career == | == Career == | ||
Satwalekar joined HDFC and became its managing director in 1993.<ref name="IIHSBio" /> 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.<ref name="board">{{cite web |title=Wipro Reappoints Deepak M. Satwalekar As Independent Director |url=https://boardstewardship.com/wipro-reappoints-deepak-m-satwalekar-as-independent-director/ |access-date=27 August 2026 |website=Board Stewardship}}</ref> He suggested the name of proposed HDFC Bank to be Bombay International Bank | Satwalekar joined HDFC and became its managing director in 1993.<ref name="IIHSBio" /> 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.<ref name="board">{{cite web |title=Wipro Reappoints Deepak M. Satwalekar As Independent Director |url=https://boardstewardship.com/wipro-reappoints-deepak-m-satwalekar-as-independent-director/ |access-date=27 August 2026 |website=Board Stewardship|archive-url=https://web.archive.org/web/20261009034857/https://boardstewardship.com/wipro-reappoints-deepak-m-satwalekar-as-independent-director/ |archive-date=2026-10-09 |url-status=live }}</ref> He suggested the name of proposed HDFC Bank to be Bombay International Bank | ||
=== Board memberships === | === 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]], Piramal Enterprises, the [[National Stock Exchange of India]], and Home First Finance Company.<ref name="IIHSBio" /> In July 2020, he was named lead independent director of [[Wipro]].<ref name="board" /> | 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]], Piramal Enterprises, the [[National Stock Exchange of India]], and Home First Finance Company.<ref name="IIHSBio" /> In July 2020, he was named lead independent director of [[Wipro]].<ref name="board" /> | ||
He has served as a consultant on housing finance to multilateral organizations, including the [[World Bank]], the [[Asian Development Bank]], [[USAID]], and [[UN-Habitat]].<ref>{{Cite web |last=PTI |date=2020-05-29 |title=Wipro appoints Deepak M Satwalekar to its Board |url=https://www.thestatesman.com/business/wipro-appoints-deepak-m-satwalekar-board-1502893803.html |access-date=2026-09-08 |website=The Statesman |language=en}}</ref><ref name="IIHSBio" /> He also chaired the [[Reserve Bank of India]] Committee on Corporate Governance in Public Sector Banks.<ref name="Egon">{{cite web |title=Chairperson's Role in Board Governance and Managing Dissent |url=https://www.egonzehnder.com/what-we-do/board-advisory/insights/role-of-the-chairperson-good-board-governance-and-managing-dissent-in-the-boardroom |publisher=Egon Zehnder |access-date=27 August 2026}}</ref> | He has served as a consultant on housing finance to multilateral organizations, including the [[World Bank]], the [[Asian Development Bank]], [[USAID]], and [[UN-Habitat]].<ref>{{Cite web |last=PTI |date=2020-05-29 |title=Wipro appoints Deepak M Satwalekar to its Board |url=https://www.thestatesman.com/business/wipro-appoints-deepak-m-satwalekar-board-1502893803.html |access-date=2026-09-08 |website=The Statesman |language=en|archive-url=https://web.archive.org/web/20261009034933/https://www.thestatesman.com/business/wipro-appoints-deepak-m-satwalekar-board-1502893803.html |archive-date=2026-10-09 |url-status=live }}</ref><ref name="IIHSBio" /> He also chaired the [[Reserve Bank of India]] Committee on Corporate Governance in Public Sector Banks.<ref name="Egon">{{cite web |title=Chairperson's Role in Board Governance and Managing Dissent |url=https://www.egonzehnder.com/what-we-do/board-advisory/insights/role-of-the-chairperson-good-board-governance-and-managing-dissent-in-the-boardroom |publisher=Egon Zehnder |access-date=27 August 2026|archive-url=https://web.archive.org/web/20240530132348/https://www.egonzehnder.com/what-we-do/board-advisory/insights/role-of-the-chairperson-good-board-governance-and-managing-dissent-in-the-boardroom |archive-date=2024-05-30 |url-status=live }}</ref> | ||
=== Non-profit and education === | === Non-profit and education === | ||
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== Personal life == | == 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.<ref name="IITBLab">{{cite web |title=Director's Circle - Mr. Deepak Satwalekar |url=https://acr.iitbombay.org/directors-circle/ |publisher=IIT Bombay Alumni Corporate Relations |access-date=27 August 2026}}</ref><ref>{{cite web |title=IITB Distinguished Alumnus, Mr. Deepak Satwalekar, sets up the 'Deepak and Maya Satwalekar Design and Making Lab' |url=https://acr.iitbombay.org/news/iitb-distinguished-alumnus-mr-deepak-satwalekar-sets-up-the-deepak-and-maya-satwalekar-design-and-making-lab/ |access-date=27 August 2026 |publisher=IIT Bombay Alumni Corporate Relations}}</ref> | 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.<ref name="IITBLab">{{cite web |title=Director's Circle - Mr. Deepak Satwalekar |url=https://acr.iitbombay.org/directors-circle/ |publisher=IIT Bombay Alumni Corporate Relations |access-date=27 August 2026|archive-url=https://web.archive.org/web/20250315142441/https://acr.iitbombay.org/directors-circle/ |archive-date=2025-03-15 |url-status=live }}</ref><ref>{{cite web |title=IITB Distinguished Alumnus, Mr. Deepak Satwalekar, sets up the 'Deepak and Maya Satwalekar Design and Making Lab' |url=https://acr.iitbombay.org/news/iitb-distinguished-alumnus-mr-deepak-satwalekar-sets-up-the-deepak-and-maya-satwalekar-design-and-making-lab/ |access-date=27 August 2026 |publisher=IIT Bombay Alumni Corporate Relations|archive-url=https://web.archive.org/web/20261009035003/https://acr.iitbombay.org/news/iitb-distinguished-alumnus-mr-deepak-satwalekar-sets-up-the-deepak-and-maya-satwalekar-design-and-making-lab/ |archive-date=2026-10-09 |url-status=live }}</ref> | ||
== References == | == References == | ||
Latest revision as of 09:20, 9 October 2026
Deepak Satwalekar | |
|---|---|
| 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[edit | edit source]
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]
Career[edit | edit source]
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.[9] He suggested the name of proposed HDFC Bank to be Bombay International Bank
Board memberships[edit | edit source]
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, 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.[9]
He has served as a consultant on housing finance to multilateral organizations, including the World Bank, the Asian Development Bank, USAID, and UN-Habitat.[10][4] He also chaired the Reserve Bank of India Committee on Corporate Governance in Public Sector Banks.[11]
Non-profit and education[edit | edit source]
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[edit | edit source]
Satwalekar received the Distinguished Alumnus Award from IIT Bombay.[4]
Personal life[edit | edit source]
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.[12][13]
References[edit | edit source]
- ↑ 1.0 1.1 Abreu, Robin (2012-07-25). "The details man". India Today. Archived from the original on 2019-12-11. Retrieved 2026-09-08.
- ↑ "rediff.com Money: The Rediff Money Interview / Deepak Satwalekar". m.rediff.com. Archived from the original on 2026-10-09. Retrieved 2026-09-08.
- ↑ "Deepak M. Satwalekar leadership profile". Wipro. Archived from the original on 2026-10-09. 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. Archived from the original on 2026-10-09. Retrieved 27 August 2026.
- ↑ "Asian Paints Appoints R. Seshasayee as Chairman". Coatings World. 2023-07-28. Archived from the original on 2025-07-23. 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.
- ↑ "Former executive director of NID passes away". The Indian Express. 2 July 2020. Archived from the original on 2020-07-01. Retrieved 27 August 2026.
- ↑ "Deepak M Satwalekar to retire from the Infosys Board of Directors". www.sec.gov. November 13, 2013. Archived from the original on 2026-10-09. Retrieved 2026-09-08.
- ↑ 9.0 9.1 "Wipro Reappoints Deepak M. Satwalekar As Independent Director". Board Stewardship. Archived from the original on 2026-10-09. Retrieved 27 August 2026.
- ↑ PTI (2020-05-29). "Wipro appoints Deepak M Satwalekar to its Board". The Statesman. Archived from the original on 2026-10-09. Retrieved 2026-09-08.
- ↑ "Chairperson's Role in Board Governance and Managing Dissent". Egon Zehnder. Archived from the original on 2024-05-30. Retrieved 27 August 2026.
- ↑ "Director's Circle - Mr. Deepak Satwalekar". IIT Bombay Alumni Corporate Relations. Archived from the original on 2025-03-15. 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. Archived from the original on 2026-10-09. Retrieved 27 August 2026.
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