Overview
- Vinay Muralidhar Tonse has been appointed MD & CEO-designate after Reserve Bank of India approval and will assume charge on April 6, 2026 for a three-year term.
- The bank’s Nomination and Remuneration Committee said it conducted an extensive search and unanimously recommended Tonse as part of structured succession planning.
- Tonse most recently led State Bank of India’s retail business, overseeing a retail book of about $800 billion, and earlier ran SBI Mutual Fund as MD & CEO with AUM rising from Rs 4.32 lakh crore to Rs 7.32 lakh crore.
- YES Bank’s largest shareholder, Sumitomo Mitsui Banking Corporation, has endorsed the appointment, citing Tonse’s experience across retail, corporate, global markets and asset management; SMBC holds a little over 24 percent.
- He succeeds Prashant Kumar, who has led the post-2020 recovery and governance rebuild, with the bank now targeting branch expansion and stronger retail and corporate franchises.