Ra­jat j Monga g has quit Yes Bank

Banking Frontiers - - People Track -

Ra­jat Monga has quit Yes Bank as its se­nior group pres­i­dent. The an­nounce­ment was made by the bank’s MD and CEO Ravneet Gill in a con­fer­ence call. He said Monga has de­cided to ‘move on’ from the bank. He was with the bank since in­cep­tion in 2004. He had re­cently sold shares he held in the bank, ac­cord­ing to in­sider data avail­able with the stock ex­changes. At the con­fer­ence call the bank au­thor­i­ties also stressed that the bank con­tin­ued to re­main fun­da­men­tally strong and that the re­cent dump­ing of shares by key man­age­rial per­son­nel and em­ploy­ees was due to ‘per­sonal rea­sons’. Monga was one of the key lead­ers un­der Rana Kapoor. He had held the post of CFO of the bank and was tipped to succeed Kapoor. But this did not hap­pen, and Gill was made the MD and CEO.

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