MAM
Carat ranked No 1 agency in the 2014 India Business League: R3
MUMBAI: Carat has been named the number one media agency in India in the 2014 New Business League table, published by R3. Conducted across 14 of the Asia Pacific’s leading media agencies, the New Business League is a market-wise monthly tally of the agencies’ new business acquisitions. In India, the tally was conducted across 17 of the region’s leading media agencies.
For the record, R3 is a global marketing consultancy, focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 1972 in the US, and 2002 beyond the US, it works with eight of the world’s top 20 global marketers. Herein, R3’s methodology for New Business League is a compilation of the most recent data supplied by 26 multinational agencies on a monthly basis. The report is balanced against client estimates, Nielsen ADEX (advertising expenditure), discounted to appropriate levels and then converted to revenue estimates.
Commenting on the announcement, Dentsu Aegis Network south Asia CEO and chairman Ashish Bhasin said, “This is a very proud moment. Carat has been steadily gaining scale in India and I congratulate Kartik and his team for this achievement. New business is the best indicator of the health and vitality of an agency, and this should give us encouragement that Carat is in a good place across the region.”
Added Carat Media India MD Kartik Iyer, “2014 has been a watershed year for Carat in India. Thanks to the great work by the teams and huge support from our network, we have won quite a few very large and important businesses. With a healthy mix of Local and Global pitches, the wins are a result of some great strategic work by the team and outstanding support from our network. We are absolutely delighted by the response received from our clients on the innovative solutions and strategic thinking we presented to them. We look forward to continuing in the winning ways and a great year ahead.” In India, Carat has added some of the largest accounts of 2014 including General Motors, Microsoft, Nokia, British Airways, Mastercard and Ayurwin to name a few.”
And it’s not just India where Carat has managed to grab the number one spot in the 2014 New Business League table but has also been named as the number one media agency across the Asia Pacific region. Apart from India, the agency has been adjudged as the number one media agency in Thailand, Korea, Japan, Hong-Kong and Australia.
Carat, the world’s largest independent media communications specialist, is part of the global operating unit – The Dentsu Aegis Network, which also includes Vizeum, Posterscope, Brandscope, Hyperspace, psLive, PSI, Isobar and iProspect Communicate 2. The network also encapsulates Dentsu and Dentsu Media along with the local brands Webchutney, TaprootIndia and Milestone Brandcom.
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.
