MAM
HDFC Securities banks on Anand Mathur as its new CFO
MUMBAI: HDFC Securities, a wholly owned subsidiary of HDFC Bank, has appointed Anand Mathur as its new chief financial officer (CFO). With over 20 years of expertise in financial strategy, regulatory compliance, and operational efficiency, Mathur’s leadership is expected to further strengthen the company’s growth trajectory in the evolving stockbroking industry.
Mathur has a distinguished career spanning key financial roles at HDFC Bank and Citibank India. Prior to his new role, he served as senior vice president for finance at HDFC Bank, where he played a pivotal role in driving strategic initiatives and financial planning. His tenure at Citi India involved overseeing financial strategy and local regulatory reporting, giving him a deep understanding of the banking and financial services sector.
Mathur stated, “I’m thrilled to be stepping into this exciting new position at HDFC Securities. With a strong focus on financial strategy, operational efficiency, and innovation, I look forward to working with the talented team at HSL to drive sustainable growth and success. The stockbroking industry is full of opportunities, and I am eager to contribute towards maximising its potential.”
HDFC Securities, managing director & CEO Dhiraj Relli welcomed Mathur’s appointment, emphasising his extensive financial acumen. “We are pleased to have Anand Mathur as our new CFO. His deep experience in financial strategy and regulatory oversight makes him the ideal choice to drive HDFC Securities forward. Anand’s leadership and vision will play a key role in strengthening our financial operations, ensuring sustainable growth, and enhancing value for our stakeholders.”
Mathur’s appointment comes at a crucial time as HDFC Securities aims to further expand its market presence and enhance its offerings in India’s fast-evolving financial ecosystem. His experience in managing financial strategy, regulatory compliance, and digital transformation is expected to be instrumental in navigating the dynamic landscape of the broking industry.
Prior to HDFC Bank, at Citibank India (2010-2012), he led financial strategy and managed regulatory reporting, gaining valuable insights into compliance and financial planning. His earlier stint at HDFC Bank (2005-2010) saw him overseeing core banking solutions implementation and Indian GAAP accounting, further solidifying his deep understanding of financial operations and governance.
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.
