MAM
WPP forms Red Fuse to handle Colgate-Palmolive’s $1.26 bn global account
MUMBAI: WPP‘s five agencies, which separately service Colgate-Palmolive, are combining under one operating unit to handle the world‘s 34th largest marketer with annual advertising spends of over $1.26 billion.
Red Fuse Communications will house the dedicated team sourced from Y&R, MEC, VML, Wunderman and GHG so that the health and personal care brand can get holistic attention.
WPP global managing partner (the current in charge of the Colgate account) Steve Forcione will function as the CEO for Red Fuse.
Says Colgate VP global advertising and digital Jack Haber, “The move to Red Fuse will allow us to focus more of our agency resources on strategy and creative. At the same time, we will be able to invest in the new areas of expertise that are now required for our campaigns to delight our consumers.”
Red Fuse will have operating offices in New York, Paris, Hong Kong, Mumbai, Kansas City and Prague for the time being and will expand to cover all geographies by mid-2013.
“WPP is merging resources from across its premiere networks into one fully dedicated and exclusive team to help Colgate win on the ground. The many excellent people who work on the account around the world are eager to move to the Red Fuse structure, so they can develop big, innovative campaigns in real time,” adds Haber.
The objective of forming a dedicated unit is to fully integrate all communications to engage with consumers in real time across all touch-points and to drive efficiencies.
Says Colgate CMO Nigel Burton, “It goes without saying that we already have a close-knit partnership with our agencies. But we are excited about Red Fuse because we believe that co-locating all the partners will lead to bigger ideas and better work created and executed smarter and faster.”
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
