Yes Bank, on Wednesday December 30, announced senior management change wherein the private sector lender said that it has appointed Niranjan Banodkar as its Group Chief Financial Officer (CFO) with effect from January 1, 2021.
He will supersede Anurag Adlakha, who has been designated as the Chief Human Resources Officer (CHRO), the bank said in a regulatory filing.
Banodkar comes with 17 years of experience in Banking in financial planning and strategy, risk management and capital markets. He is presently responsible for driving the sustainability agenda as well as the strategy and planning function at the bank. Banodkar started working with Yes Bank in April 2006 and was a key member in setting up the Market Risk function, the bank said.
As Head of Market Risk, he was responsible for setting up policies, procedures and limits for prudent risk taking across the Bank's Financial Markets businesses. He was an active member of the ALCO, Investment Committee and was also involved in various Basel implementation initiatives, it added.
Over the last 6 years, as Head of Financial & Investor Strategy, Banodkar has successfully led multiple fund raising across equity and debt instruments and over different lifecycles, the bank said.
Niranjan started his Banking career with Bank of Bahrain & Kuwait and has also briefly worked with E&Y in their Risk & Business Solutions practice. He is a Chartered Accountant and has also cleared FRM (GARP) exam.
"A bank's Human Resources are its most valuable assets and as we look to further strengthen our People related policies and practices, I am pleased that Anurag Adlakha will be leading this transformation at YES Bank. Anurag is a seasoned banker and has been a CXO with reputed banks for over two decades. He has also had a ringside view of the developments at Yes Bank over the past year and a half. Consequently, Niranjan Banodkar, currently Head Strategy, will take over as Group CFO," said Prashant Kumar, MD&CEO, YES Bank.
"Niranjan is a Chartered Accountant with 17 years of experience and has been associated with YES Bank for the past 15 years. He was very closely involved with YES Bank's successful FPO earlier in the year. His appointment is a testimony to the deep talent pool that is available to YES Bank. I am very confident that both these appointments will significantly benefit YES Bank," he added.