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Deutsche Bank’s Ravneet Gill joins race to succeed Rana Kapoor at YES Bank

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NEW DLEHI: Ravneet Gill, CEO of Deutsche Bank’s India operations, has joined the race to succeed Rana Kapoor as the private lender’s next chief executive, ET Now reported quoting sources.

YES Bank has time till February 1 to announce a successor to Kapoor, whose term ends on January 31.

Following the report, the scrip jumped 7.64 per cent to hit a high of Rs 198.

The bank, which sent its recommendation on the managing director and chief executive to the Reserve Bank of India (RBI) after its board meeting on January 9, has not disclosed names of the short-listed candidates. But, a few names have been in news for some time.

Rajesh Sud, who was believed to be among the shortlisted candidates, reportedly pulled out of the race for the top job. Sud is the former MD and CEO of Max Life Insurance.

YES Bank executive director Rajat Monga is still believed to be in the race.

Meanwhile, the bank has appointed Brahm Dutt as its non-executive chairman. Dutt has been on the board of the bank since July 2013 as an independent director,and has contributed to almost all the sub-committees of the board over the past 5 years and a half, YES Bank said in a regulatory filing.

Source: Economic Times