MAM
ZFunds bolsters its leadership with two new appointments
Mumbai: Mutual fund distribution platform ZFunds on Monday announced two new leadership appointments as the company expands its footprints. While Yogesh Yadav joins as the chief technology officer (CTO), Tanvi Jadhav is the new head of products.
The appointments strategically enable the platform in the distribution of financial products in tier-2, 3 and 4 cities and rural India through its experts, ZFunds said in a statement.
“We are pleased to welcome Yogesh and Tanvi on board. Their belief in new-age start-ups like ours despite their backgrounds with long-standing organisations is heartening,” commented ZFunds co-founder and CEO Manish Kothari. “At ZFunds, we are proud of our culture of meritocracy, customer-centricity, growth, and diversity. These attributes serve us right in our mission of making purchases of financial products and decision making Sahi (Right) and Asaan (Easy) in the 500 bottom-most districts of India.”
Yadav has extensive experience in software engineering and joins ZFunds from ByPrice-Mexico where he worked as a CTO. Before ByPrice, he worked with the leading e-comm player in Latin America; Linio. Beyond work, he utilises his experience in blockchain for an in-depth study of trends in cryptocurrency. He holds a B-tech from Delhi College of Engineering. “At ZFunds we have built tech products simple and easy. It allows people from lower-economic-rung to invest in Gold and Mutual Funds and thus help the Indian economy grow. I have had an offer from a global giant too but I chose to refute it,” said Yogesh Yadav, on joining ZFunds.
Jadhav comes from a rich experience in the fintech industry, with past stints at InCred Financial Services, Paisabazaar, HealthKart and Kotak Mahindra Bank, where she played a crucial role in building digital products. She is a graduate of IIT Guwahati with a bachelor’s degree in mathematics and computing. “For me, the option of heading the products at ZFunds was more than merely a professional pursuit. Instead, I took it as an opportunity to participate in a financial reform of sorts for our society. I am looking forward to being part of the vibrant team and driving digital-first innovations,” stated Tanvi Jadhav.
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.
