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Yes Bank, which was rescued by the Reserve Bank in March after a huge run-on, on Wednesday promoted two key senior management personnel as the chief financial officer and head of human resources. The bank, now majority-owned by State Bank of India, has promoted Niranjan Banodkar as the group Chief Financial Officer(CFO) and Anurag Adlakha as the group Chief Human Resources Officer.
In an exchange filing, Yes Bank said these appointments were approved by the board, on the recommendation of the nomination and remuneration committee and also of the audit committee. New HR head replaces Deodutta Kurane, who will be retiring from the bank soon, it said adding both the appointments will be effective January 1.
Banodkar is also designated as a key managerial personnel authorized for determining materiality of an event or information for making disclosures to stock exchanges, it added. Adlakha joined the bank in April 2019 and was heading its market risk division prior to this elevation. He also headed the financial & investor strategy and investor relations at the bank.
Banodkar has 17 years of experience in risk management, capital markets, financial planning and strategy in banking and is currently responsible for strategy & planning. He joined the bank in April 2006 and had started banking career with Bank of Bahrain & Kuwait. He also had a brief stint with E&Y India. Prashant Kumar, MD&CEO, Yes Bank said, A bank’s Human Resources are its most valuable assets and as we look to further strengthen our people related policies and practices, I am pleased that Anurag Adlakha will be leading this transformation at YES Bank.” Being a seasoned banker for over two decades, Adlakha has also had a ringside view of the developments at the bank over the past year and a half, he said.
Banodkar is a chartered accountant with 17 years of experience, and has been associated with Yes Bank for the past 15 years and was closely involved with its recent FPO. I am very confident that both these key appointments will significantly benefit the bank, said Kumar.
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