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Ravneet Gill to be YES Bank boss after Rana Kapoor's tenure ends on Jan 31

In October, the RBI had refused to give incumbent CEO Rana Kapoor an extension to his term

Abhijit Lele  |  Mumbai 

YES Bank, Ravneet Gill
YES Bank

Ravneet Gill, a career banker with Deutsche Bank, will succeed as the managing director and chief of Kapoor’s tenure ends on January 31.

Gill, currently Chief Executive of Deutsche Bank’s business operations in India, is expected to take charge latest by March 1, said in a statement.

Reserve Bank of India (RBI) has approved the appointment of 57-year-old for a three-year term.

The board will meet on January 29 to finalise the delegation of powers for the transition management in the interim period till Gill assumes office.

Ravneet Gill to be YES Bank boss after Rana Kapoor's tenure ends on Jan 31

Kapoor's role in the bank as well as those in the bank's subsidiaries will also be decided in the meeting.

Ravneet Gill to be YES Bank boss after Rana Kapoor's tenure ends on Jan 31

Meanwhile, the board has appointed Maheswar Sahu, former Gujarat cadre IAS officer, and Anil Jaggia, former banker with HDFC Bank, as additional directors (independent). It will also recommended the appointments of Ashish Agarwal as the executive director.

The bank, in its submission to the on January 10, had stated that Gill was their most-preferred candidate for the top post. The appointment will be subject to shareholders’ nod at the bank’s Annual General Meeting in June.

In October, the had refused to give incumbent CEO an extension to his term.

“As we look ahead, the bank’s highly experienced and proven management team, with the guidance of its board, is well geared to successfully navigate the bank through this leadership transition phase,” Kapoor said in a statement.

Bankers called Gill a professional, trustworthy and an able hand. After taking charge, he will have to focus on strengthening governance practices, review lending strategy and its pace and work on capital raising plan.

Gill has experience in corporate banking, capital markets and treasury solutions, investment banking, retail & private banking at Deutsche Bank, which he joined in 1991. In 2011, he took over as the bank’s head of capital markets and treasury solutions in the country. Gill completed his masters in political science from under Delhi University in 1985.

First Published: Fri, January 25 2019. 00:15 IST
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