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Alliance Insurance Brokers names Aatur Thakkar CEO
MUMBAI: Alliance Insurance Brokers Private Limited has ushered in a new chapter by appointing Aatur Shashikant Thakkar as its chief executive officer and principal officer. The move signals a generational shift at one of India’s leading insurance and reinsurance brokerage firms, with growth firmly at the centre of the agenda.
Thakkar takes over from founder Shashikant Thakkar, who steps aside after building Alliance into a trusted name in insurance services and risk management. The founder will continue to play an active role, offering strategic guidance as the company sharpens its expansion plans.
The new CEO is clear about his ambitions. Over the next three financial years, Alliance aims to scale premiums under management to Rs 5,000 crore, while doubling the size of its reinsurance business. The strategy rests on widening the company’s reach across corporate insurance, B2B channels, strategic partnerships and digital platforms, all designed to keep growth steady and sustainable.
Commenting on the appointment, Alliance director Shashikant Thakkar, said Aatur’s long association with the firm made him a natural choice. Having grown within the organisation, he brings both continuity and a fresh perspective to the role.
For his part, Aatur Thakkar struck an upbeat note. He described the moment as both an honour and a responsibility, adding that Alliance is entering a decisive phase driven by scale, innovation and disciplined execution. The company closed FY25 with premiums under management of over Rs 1,500 crore and is targeting Rs 2,500 crore by the end of FY26.
With more than two decades at Alliance, Thakkar knows the business from the inside out. His blend of institutional memory and forward-looking ambition positions him to steer the firm through its next growth cycle, making insurance sound, if not thrilling, then at least a lot more interesting than before.
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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.
