MAM
Ajay Gahlaut moves on from Publicis Worldwide
NEW DELHIL Ajay Gahlaut, CCO and MD of Publicis Worldwide, India (PWW) has decided to move on from the agency and pursue his passion on a personal front. He will be with the agency until mid-August and will ensure a steady handover to all concerned teams and clients.
The agency has also announced the elevation of Vikash Chemjong and Basabjit ‘Tito’ Mazumdar to the role of Joint NCDs. The duo would take on the role of managing the creative mandate for all brands under PWW including Publicis Capital, Publicis Ambience, Publicis Beehive, Publicis Health, Publicis Emil and Publicis Business and will report to Publicis Worldwide MD Srija Chatterjee, India.
Publicis Groupe South Asia CEO Anupriya Acharya says, “Working with Ajay has been a great experience even though our overlap has been only six months! He has built a great team here and we thank him for all his contributions. Am sure he will be successful in whatever he chooses to do next and our best wishes are with him.”
Vikash and Tito had joined Publicis Capital over a year ago as National Creative Directors. Over the past one year, they have been instrumental in shaping the creative universe of some key brands under Publicis Capital including Beam Suntory, GUS, GPI, Nestle, Goodricke, Emami to name a few. Prior to joining Publicis, they both were Group Creative Directors at Ogilvy India and have over four decades of creative experience between them.
Srija Chatterjee said, “Ajay has been a great friend and a fantastic creative leader to have around. Over his 18-month long stint, he has helped build and nurture the creative process and output for a number of brands at the agency. I wish him a great ride in his future endeavours.”
On the new roles for Vikash and Tito, Srija added, “We are fortunate to be running on a Groupe philosophy that thrives on the model of collaboration and ensure that we breed and train talent of great calibre. To that end, both Vikash and Tito come with over 40+ years of combined work experience and have been successfully leading the Publicis Capital business for the last one year, partnering some of our clients in delivering some great work. I look forward to them playing a key role in raising the creative bar.”
Ajay Gahlaut said, “For me it has been a wonderful year and a half at Publicis. I have made many friends, built a powerhouse creative team and done some nice work. The only reason for moving on is a desire to try new things. This is an extremely exciting time for all kinds of creative content in the country. I have a couple of interesting options I can explore. And while I will never say never to advertising, I thought it was a good time to attempt some things I hadn’t tried before.”
Gahlaut remarked that it was extremely satisfying to see Vikash and Tito elevated as creative heads. “I have always believed in promoting from within and I’m sure that the duo will rise to the occasion. Ranadeep Dasgupta, meanwhile, will look after the New Delhi office and I’m certain that he too will shine in his new role.”
Vikash and Tito affirmed, “It’s a great honour for the both of us. This is a new role but we will deal with it in much the same way as we have dealt with all our briefs. Just roll up our sleeves, order some excellent food and keep at it until we are satisfied. Both with the food and with the ideas! Because we have realised over the years, that if we are happy and convinced about our ideas, more often than not, so are our clients!”
Gahlaut has been a part of noteworthy campaigns such as Emami Navratna – ‘Raahat Raja featuring Salman Khan’, HDFC MF – ‘Baat Bane Kishton Mein’ and Skoda Auto – ‘Peace of Mind’ among others.
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.
