Private sector lenders Yes BankNSE 1.67% on Wednesday nominated two senior management executives to manage the finances and operations of employees.
The bank, now owned by the State Bank of India and other financial institutions, said its board had approved the nomination of Niranjan Banodkar as the Group Chief Financial Officer (CFO) and Anurag Adlakha appointed as the Group Chief Human Resources Officer following recommendations from the remuneration panel, nomination and also the audit committee.
Adlakha, who joined the lender last year as the new HR head, will replace Deodutta Kurane, who soon will retire, the bank said in a change, adding that appointments would begin starting from January 1 respectively.
Banodkar, who joined the bank during April 2006, has also been appointed as the chief executive officer authorized to make official disclosures, leading the risk banking unit in the market before his rise. He had also previously led a financial and investment strategy for the bank.
For the past 17 years in the bank, Banodkar, a hired accountant, has been responsible for disaster risk management, financial markets, financial planning and strategies.
Bank of Bahrain in Kuwait was the start of his banking career, before which he also had some brief stint with E&Y.
Prashant Kumar, CEO and Chief Executive Officer of Yes Bank said, “human resources are the most important assets of any organization and as we continue to strengthen our human rights policies and practices, I am confident that Adlakha will lead this change”.
Being an experienced banker who has more than two decades of experience, Adlakha has also seen the vision of the bank’s ongoing development over the past year and a half according to him. Both of these key positions will be definitely of great benefit to the bank I am confident said by Mr Kumar.
Reserve Bank of India rescued the Yes Bank in March after a long struggle.