Mumbai, July 1, 2013 - YES BANK, India’s fourth largest private sector bank, announced the elevation of 3 top management leaders to the position of Executive Directors on the Board of Directors of YES Bank. This is in accordance with YES BANK’s stated objective of steadily emerging as the ‘Professionals’ Bank of India’, which has been the cornerstone of sustained success of its human resources strategy. Professional Entrepreneurship embedded in the “Owner - Manager - Partner” HR philosophy of the Bank, has been a significant pillar responsible for the growth of the Bank.
As a logical next step in building and strengthening the institutional character of YES BANK as the “Professionals’ Banks of India”, three top management leaders at YES BANK have been approved by the Board of Directors for appointment as Executive Directors of the Bank, with continued direct reporting into the MD & CEO Rana Kapoor. These elevations will be effective from the date of approval by RBI and shareholders.
Speaking on this occasion, Mr. Rana Kapoor, MD & CEO, YES BANK said, “I take significant institutional pride in announcing these elevations which are in accordance with our stated objectives of building YES BANK’s DNA into the Professionals’ Bank of India. All 3 new Executive Directors have excellent background and an outstanding track record of achievements in their previous assignments, and even more importantly at YES BANK. These leaders are extremely dynamic and competent with proven strategic and execution driven strengths. Their new roles and responsibilities will further strengthen and add considerable value to YES BANK’s Board of Directors, in addition to them serving as role models for over 7500 YES BANKers”.
1. Rajat Monga– an alumnus of IIT Delhi & IIM Ahmedabad, with over 16 years of banking experience, has been a key leader in the Bank since its inception and has handled increasing responsibilities over the past 9 + years at YES BANK. In his elevated role as Executive Director & CFO, he will continue to lead the overall responsibility for Financial Markets and the Financial Management function. He will also continue to lead the following:
- Relationship Groups including: Indian Financial Institutions, International Banking and MNCs Relationships
- Product Groups including: Debt Capital Markets, Loan Syndications, and Transaction Banking Group
- Strategic Support functions: Infrastructure & Network Management, Technology Solutions Group and Corporate Operations & Service Delivery.
2. Sanjay Palve- an alumnus of VJTI, Mumbai and JBMIS, with over 17 years of an excellent and proven track record in corporate finance, has been a key leader in the Bank since its inception and has handled increasing responsibilities over the past 9 years at YES BANK. In his elevated role as Executive Director-Wholesale Banking, Sanjay will continue to lead the following:
- Relationship Groups including: Infrastructure Banking and related sectors, Government Relationship Management
- Product Groups including: Corporate Finance and Agri & Rural Banking,
- Knowledge Banking including: Strategic Initiatives & Government Advisory (SIGA), Food & Agri Strategic Advisory and Research (FASAR), Inclusive and Social Banking (ISB) and Socially Responsible Investing (TATVA).
3. Pralay Mondal, an alumnus of IIT Kharagpur and IIM Calcutta, with over 24 years of experience, joined YES BANK over a year ago from HDFC Bank, where he was instrumental in scaling up the consumer banking & credit card businesses. In his elevated role as Executive Director-Branch & Retail Banking, Pralay will continue to lead the following:
- Relationship Groups including: Branch Branching, Retail Assets & Business Banking. Growing granular liabilities and assets businesses is YES BANK’s #1 priority in its ersion 2.0 (2010 – 2015) – Vision & Strategy.
- Product Groups including: Liability Products management, Direct Banking & ATMs.
- Strategic Support functions including: building of a highly scalable & efficient Operations & Service Delivery, Branch Service Delivery, Out Bound Contact Centre and Risk Containment Unit for Branch Banking & Operations.
These YES BANK leaders have a demonstrated track record and outstanding professional credentials in their respective areas, and have played a significant role through their valuable contribution in growing the Bank in their respective areas. Their involvement at the Board level will considerably benefit the Bank and create greater value addition by leveraging their specialized knowledge, experience and skill sets.
About YES BANK LIMITED
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Dr. Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the vision of “Building the Best Quality Bank of the World in India” by 2015.
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