YES Bank, founded by its current CEO Rana Kapoor, is the fifth largest private lender in the Indian Banking Sector. Rana Kapoor will be succeeded by Ravneet Gill, head of Deutsche Bank’s Indian operations. The transition is supposed to take place before 1st of March, 2019.
Mr. Gill started his career by joining the erstwhile BCCI Bank in 1986, which was later liquidated and merged with the State Bank of India. He later joined the Deutsche Bank in the year if 1991, majoring in the field of private wealth management but later, worked his way up to become the bank’s CEO in the year of 2012. One can say that Ravneet Gill is a man who never stops learning new things from life and work as he not only specializes in private wealth management but also in the fields of corporate banking and treasury operations.
He has had stints in the other key functions of the bank like capital markets, investment banking, retail and private banking as well. Most experts believe that Gill is a great choice as the new CEO of YES Bank as he has an experience of over three decades in the banking sector. The bank had appointed the firm Korn Ferry to advise them on the matters of finding a replacement for Rana Kapoor.
Mr. Gill has created quite a reputation for himself as one of the most renowned Indian bankers of our time as the news of him succeeding Rana Kapoor brought about a positive change in the share of YES Bank, which surged over 19% intraday on 24th January, when the news was made official. This is one of the highest surges which have been seen in the stocks of YES bank in the last few years. It is being said that Mr. Gill will have a huge load of responsibility on his shoulders as he will be responsible for building a new core team for his management which will take YES Bank in a new direction and to even greater heights.
The investors and the general public are quite excited about this transition as they believe that it will bring about a positive change in the stocks of YES Bank and also in the way they carry out their operations. All we can do now is speculate and hope that Ravneet Gill makes his mark through his work in YES Bank.
