MAM
ACESO appoints Ranjit Kulkarni to drive research and strategic acquisitions initiatives
Mumbai: ACESO, a pioneering market maker company revolutionising the life insurance landscape, is pleased to announce the appointment of Ranjit Kulkarni as its new research and strategic acquisitions head. With over 35 years of distinguished experience in the life insurance industry, Ranjit brings a wealth of expertise and insight to his new role.
As ACESO continues to innovate and provide optimal solutions to policyholders, Ranjit’s appointment marks a significant milestone in the company’s strategic growth. His extensive network within the insurance fraternity ensures that ACESO remains at the forefront of industry trends and developments.
In his new role, Ranjit will lead ACESO’s team in leveraging the C2B platform, specifically designed for LIC policy holders, called ALIP – Assignment of Life Insurance Policies. This platform offers an alternative for policyholders who are keen to surrender their LIC Policies or where policies are lapsed, ensuring that policyholders do not lose out on their entire life-cover benefits. Additionally, this platform also helps in sustaining the income of the agents/ insurance advisors.
Ranjit’s journey in the field of life insurance began with a passion for mathematics, which served as the cornerstone for his analytical prowess in navigating the complexities of insurance products. As a third-generation professional in insurance business development, Ranjit has garnered numerous national and international awards for his outstanding achievements. His pivotal contribution as a mentor has shaped top-performing insurance advisors, empowering them to excel in their roles and reach their full potential.
Commenting on Ranjit’s appointment, ACESO founder Ketan Mehta said, “We are thrilled to welcome Ranjit Kulkarni to the ACESO team as our research and strategic acquisitions head. With his extensive industry experience and unwavering commitment to excellence, Ranjit will play a crucial role in driving our mission to empower policyholders and redefine the life insurance landscape. His leadership will further propel ACESO as a leader in delivering innovative solutions to our valued customers.”
Ranjit expressing his enthusiasm, said, “I am honoured to join ACESO and contribute to its mission of providing innovative solutions to policyholders. I look forward to working with the team to further enhance ACESO’s position as a leader in the life insurance market.”
Having facilitated the assignment of over Rs 400 million worth of Endowment policies issued by LIC of India, ACESO and its associate company have showcased a remarkable dedication to empowering policyholders. With a reputation for professionalism and expertise, ACESO boasts in-depth knowledge of insurance plans and products offered by LIC of India, setting it apart as a trusted authority in the field.
ACESO’s Complete Secondary Life Asset Management servicing capabilities, administered through a professional SEBI Registered trustee company, solidify its position as a cornerstone in the industry, providing seamless support to policyholders throughout their journey. With Ranjit Kulkarni at the helm of research and strategic acquisitions, ACESO reaffirms its commitment to delivering unparalleled value to policyholders and solidifying its position as a trailblazer in the insurance industry.
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.
