Deutsche Bank India CEO Ravneet Singh Gill has been named the new MD and CEO of Yes Bank. Ravneet Singh Gill will assume the charge at Yes Bank from March 1. Over 26 years in banking, Gill has spent 21 years with the German bank across portfolios like structured financing, foreign exchange, transaction banking, risk management and private banking.
Deutsche Bank AG of Frankfurt, Germany multinational investment bank and financial services has operation in 58 countries with a large presence in Europe, the Americas and Asia. is the 15th largest bank in the world. It sits on three pillars – the Private & Commercial Bank, the Corporate & Investment Bank (CIB) and Asset Management (DWS). Deutsche is the fifth largest foreign bank in India in terms of number of branches, behind StanChart, HSBC, Citibank and RBS.
Yes Bank Limited is India’s fourth largest private sector bank, founded by Rana Kapoor and Ashok Kapur in 2004. It primarily operates as a corporate bank, with retail banking and asset management as subsidiary functions. As on 31 January 2019, Yes Bank had 1, 150 branches and 1800+ ATMs in India. It had a balance sheet size of Rs. 250,000 crore and Gross NPA of 1.72%, making it the fourth largest private sector bank in India
“The RBI’s decision is a warning shot to the new private sector banks that they can no longer continue to mismanage their operations, that the regulator’s writ reigns supreme and that bank CEOs violate it at their peril,” Hazari noted. “Such a decision, though causing uncertainty for shareholders, reinforces the banking regulator’s credibility as a supervisor.”
In September 2018, The Reserve Bank had asked Kapoor, who is one of the promoters of the city-based lender along with his sister-in-law Bindu Kapur, to leave the office by the end of this month. It has been a troubling year for India’s private sector banks. The latest one to receive a blow is YES Bank, the country’s fourth-largest private lender. The Reserve Bank of India (RBI) on Sept. 19 extended its managing director and CEO Rana Kapoor’s term only till Jan. 31, 2019.
The RBI has asked the private sector lender to find the replacement of MD and CEO Rana Kapoor, whose term ends on January 31, 2019.
On January 9, 2019, YES Bank informed stock exchanges that it has shortlisted the names of potential candidates to succeed Kapoor, who is to demit office by month-end. The bank, however, did not disclose the names of the shortlisted candidates for the top post.
The bank has received Reserve Bank approval for new managing director and chief executive Ravneet Gill. He can join on or before March 1, 2019,” Yes Bank said in a statement.
He will succeed Rana Kapoor, whose term ends on January 31. In 2012, Ravneet Gill had been appointed as the chief executive officer of Deutsche Bank AG in India. He inducted into the bank’s Asia-Pacific executive committee as a member. He had joined Deutsche Bank in 1991 in private wealth management and moved to the corporate bank in 1993.
In 2003, Gill 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.