Man­age­ment re­jig at YES Bank

Banking Frontiers - - People Track -

YES Bank has made changes in its se­nior man­age­ment to turn it­self into what it de­scribes as a ‘tech­nol­ogy com­pany in the busi­ness of bank­ing’.

The bank has brought in Raj Ahuja from Re­liance Jio as its CFO and has re­aligned the job pro­file of the cur­rent CFO Ra­jat Monga, who will also head the dig­i­tal bank­ing and tech­nol­ogy func­tions. Per­haps the ap­point­ment of Ahuja is in line with the RBI man­date that a bank CFO should also be a char­tered ac­coun­tant. The bank said in a state­ment

Monga will lead the bank’s evo­lu­tion into a tech­nol­ogy com­pany in the busi­ness of bank­ing, re-plat­form­ing the core tech­nol­ogy plat­forms and fur­ther scal­ing up cor­po­rate and re­tail bank­ing so­lu­tions. Monga will con­tinue to head fi­nan­cial mar­kets, bal­ance sheet man­age­ment, trans­ac­tion bank­ing and li­a­bil­i­ties prod­uct man­age­ment, but will also head the dig­i­tal bank­ing and tech­nol­ogy func­tions. Ahuja will over­see fi­nan­cial man­age­ment and will be involved in driv­ing the fi­nan­cial per­for­mance. Mean­while, Ajay De­sai, who was pres­i­dent and CFO at the bank, has left the bank to join Ru­bique, an on­line mar­ket­place pro­vid­ing tech­nol­o­gyen­abled end-to-end so­lu­tions to fi­nanc­ing needs of in­di­vid­u­als and SMEs, as its COO.

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