Yes Bank elevates Banodkar as CFO, Adlakha as HR head

Yes Bank, which was rescued by the Reserve Bank in March after a huge run-on, on Wednesday promoted two key senior management personnel as the chief financial officer and head of human resources.

The bank, now majority-owned by State Bank of India, has promoted Niranjan Banodkar as the group Chief Financial Officer(CFO) and Anurag Adlakha as the group Chief Human Resources Officer.

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In an exchange filing, Yes Bank said these appointments were approved by the board, on the recommendation of the nomination and remuneration committee and also of the audit committee.

New HR head Adlakha, who joined the lender last year, will replace Deodutta Kurane, who will be retiring soon, the bank said in an exchange filing, adding both the appointments will be effective January 1.

Banodkar, who joined the bank in April 2006, is also designated as a key managerial personnel authorised to make regulatory disclosures, was heading the bank's market risk division prior to his elevation. He had also headed the financial and investor strategy at the bank earlier.

Over the past 17 years in banking, Banodkar, a chartered accountant, has handled risk management, capital markets, financial planning and strategy.

He had started banking career with Bank of Bahrain & Kuwait, prior to which he also had a brief stint with E&Y.

Prashant Kumar, Managing Director and Chief Executive of Yes Bank said, "human resources are the most valuable assets for any organisation and as we further strengthen our people-related policies and practices, I am sure Adlakha will be leading this transformation".

"Being a seasoned banker with over two decades of experience, Adlakha has also had a ringside view of the developments at the bank over the past year-and-a-half years," he added.

"I am very confident that both these key appointments will significantly benefit the bank," Kumar said.

Yes Bank was rescued by the Reserve Bank in March after a huge run-on.