Mumbai, October 5, 2018
Further to the Bank’s Press Release dated September 25, 2018 and October 1, 2018, the Board of Directors of YES BANK are pleased to announce the following updates.
1. Pursuant to the recommendations of the Bank’s Nomination & Remuneration Committee (NRC) and approval from the Bank’s Board of Directors today, the ‘Search & Selection Committee’, will comprise of the following members:
External Experts (Profiles attached – Annexure I and II)
Mr. T S Vijayan, past Chairman of IRDAI and LIC
Mr. O P Bhatt, past CMD, State Bank of India
Mr. Brahm Dutt, Independent Director (Chairman – NRC)
Lt. General Dr. Mukesh Sabharwal (Retd.) - Independent Director (Member – NRC)
Mr. Subhash Chander Kalia, Non-Executive Non-Independent Director (Member – NRC)
2. The Bank has invited proposals from Global Leadership Advisory Firms specializing in BFSI. The first meeting of the ‘Search & Selection Committee’ is scheduled on October 11, 2018 for finalization of the advisory firm.
Mr. T S Vijayan
Mr. T S Vijayan is the past Chairman of Insurance Regulatory & Development Authority of India (IRDAI).
Before assuming charge as Chairman, IRDAI, Mr. T S Vijayan worked in various capacities in the Life Insurance Corporation of India and took over as its Chairman in 2006. He took charge as Chairman of LIC when competition was at its peak upon opening of insurance sector in 2001. His career in Life Insurance Corporation of India (LIC) started as a Direct Recruit Officer in the year 1977 and some of the important assignments held by him were Managing Director of LIC, Executive Director (IT & BPR), Director and Chief Executive of LIC Housing Finance Limited (LICHFL) Carehomes. His specialization includes Information Technology, HR & Marketing. He was the architect of the concept of Satellite Offices in LIC which brought about a revolution in customer service. He attended several national and international seminars in the areas of Information Technology, Strategic Management, Corporate Governance, Financial Management, Value creation in Service industry etc. He has received extensive training in Business Schools like Indian School of Business and apex training institutes like NIA, MDC etc.
Mr. T S Vijayan pursued his education in Kerala and holds a special graduate degree from Kerala University. He also holds a Diploma in Management.
Mr. O P Bhatt
Mr. O. P. Bhatt was the Chairman of the State Bank of India. Under his leadership, State Bank of India (SBI) rose on the global list rankings of Fortune 500. Mr. Bhatt initiated a path-breaking Transformation Exercise on a large scale to transform the Bank from an old, hierarchal, transaction based bureaucratic government Bank, dealing in traditional services to a modern, customer friendly, relationship based tech savvy financial super market.
Mr. Bhatt has served on the Board of many organisations like Export-Import Bank of India, Institute of Banking Personnel Selection, Indian Institute of Banking & Finance, Indian Council for Research on International Economic Relations, Board of Trade Ministry of Commerce and Industry, Directorate General of Foreign Trade, Standing Committee on Infrastructure Finance, Ministry of Finance, Steering Committee on Financial Resources, Planning Commission. He was also a member of the US-India CEO Forum, Indo-French CEO Forum.
Mr. Bhatt was nominated ‘Banker of the Year’ by Business Standard and CNN – IBN Indian of the Year for Business in 2007. Mr. Bhatt was also Chairman of the Indian Banks’ Association. He has also been a part of India’s eco-diplomacy as member of the Indo - US, Indo-Russia and Indo-French CEOs Forum. Presently, he is the Governor on the Board of Centre for Creative Leadership, USA.
He was the National Science Talent Search Scholar in Physics at DAV College, Dehradun, and holds a post-graduate degree in English Literature from Meerut University.
About YES BANK
YES BANK, is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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