Mumbai, January 24, 2019: Pursuant to the YES BANK release dated January 9, 2019, Subject - Update on YES Bank Board matters: Appointment of MD & CEO, YES BANK is pleased to share that Reserve Bank of India (“RBI”) has vide its letter dated January 23, 2019 approved the appointment of Ravneet Gill as the MD & CEO of YES BANK for a period of 3 years from the date of joining. Gill is expected to join the Bank latest by March 1, 2019. The appointment will be subject to the approval of shareholders at the ensuing Annual General Meeting of the Bank to be held in the month of June, 2019.
Gill was the number 1 priority candidate in the submissions made by the Bank to RBI on January 10, 2019. (Profile attached).
The Board of Directors of YES BANK have scheduled a special Board Meeting to be held on Tuesday, January 29, 2019, and will inter alia finalize on the delegation of powers for transition management in the interim period commencing from February 1, 2019 until Ravneet Gill assumes office.
Speaking on the occasion, Rana Kapoor, MD & CEO, YES BANK, said, "On behalf of the Board of Directors and 21,000+ YES BANKers, I am extremely pleased to welcome Ravneet Gill as the new MD & CEO of YES BANK and also convey our finest appreciation to RBI for its expeditious approval in less than 3 weeks. I have had the opportunity to have known and briefly interacted with Ravneet Gill professionally over the years, and have admired his exceptional professionalism and outstanding leadership style. I am certain that his diverse, comprehensive experience as a career banker will provide significant confidence & conviction to all stakeholders including employees, customers and investors.”
Profile of Ravneet Gill
Ravneet Gill is an eminent leader with more than 3 decades of experience with the last 25+ years with Deutsche Bank AG, the 11th largest bank in the World. He is a well-known banker with an illustrious career spent spearheading all key banking functions including Corporate Banking, Capital Markets and Treasury Solutions (CMTS), Investment Banking, Retail & Private banking at Deutsche Bank AG. Most recently, Ravneet Gill was re-appointed as the MD & CEO of Deutsche Bank, India for the 3rd term by RBI.
He started his journey at Deutsche Bank in 1991 in private wealth management and moved to the Corporate Banking in 1993 growing from a relationship manager to becoming the CEO in 2012. He has been also a member of Deutsche Bank AG’s Asia-Pacific Executive Committee. In 2003, he took over as Head of Corporate Banking Coverage and held the position till December 2008, when he was appointed Head of Coverage for Global Markets and built a dominant flow franchise to compliment the platform's structured products' capabilities. In 2011, he took the responsibility of Head of Capital Markets & Treasury Solutions, India and oversaw the successful integration of Corporate Treasury Sales, Debt Capital Markets & Corporate Banking Coverage. In his most recent role as CEO of Deutsche Bank’s businesses in India, he has ensured one of the lowest NPAs in the industry, and delivered one of the highest post tax Returns on Equity amongst all banks in India with a team of over 14,000 employees.
Under Gill’s leadership, Deutsche Bank has been a recipient of many marquee international & domestic awards & recognitions, and he is regarded as one of the most high profile and successful MNC CEOs in India today.
Ravneet was also a Member, Management Committee of Indian Banks Association (IBA) from 2012 – 2018 and holds a Masters in Political Science from Hindu College, University of Delhi (Year 1985).
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
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 8 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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