MAM
Fab.com’s Maria Molland joins American Swan board of directors
MUMBAI: The online global fashion and lifestyle brand American Swan has appointed Maria Molland to the company’s board of directors.
Optimistic about her association with a vibrant brand like American Swan Maria Molland said, “It feels exciting to join a young, dynamic brand and there is a massive opportunity for American Swan vis-?-vis the increasing amount of capital going into emerging markets. I look forward to bringing my expertise to the brand and help them expand their impressive product range in global markets, as they enter their next stage of growth”
As a new entrant in the e-commerce space, American Swan is one of the rare examples that has adopted fast and strived for efficiency in a competitive domain. Its initiative to adopt the hybrid model by venturing into online and offline channels simultaneously has helped it maximise reach and de-risk the business. The growth for the American Swan brand has been fairly fast-paced, encouraging and consistent. So expanding the brand’s footprint globally after establishing itself in India was an inevitable next step.
American Swan director and CEO Anurag Rajpal added, “We are delighted to have Maria Molland join us. She brings broad, international experience and deep knowledge of the e-commerce industry. We are confident that the perspective she brings to American Swan and its Board is extremely valuable, given our strategic priorities of International presence and ecommerce growth.”
Molland will bring her vast experience in ecommerce to advise American Swan on international expansion as it seeks to be the leading online fashion brand in emerging markets apart from bringing the best ecommerce practices. American Swan has grown quickly in the Indian e-commerce domain by offering a range of classic preppy fashion and authentic smart casuals to the urban fashion-conscious consumers who seek International brands and styling. It is rapidly expanding to other emerging markets in Asia.
Molland is an executive who recently served as the chief European officer at Fab.com, one of the fastest growing ecommerce companies. The European business grew from negligible to more than 40 per cent of Fab’s global revenues during her tenure.
Prior to Fab, Molland was the global managing director of Digital Ventures at Thomson Reuters where she managed teams in the US, Europe, India, China and the Middle East. Molland has also held global executive roles at Dow Jones and Yahoo.
India has close to 10 million online shoppers and is growing at an estimated 3 per cent CAGR and is poised to witness significant growth in the next few years. It has been speculated that the industry will touch a benchmark of $34.2 billion by 2015. As the e-commerce business is growing by leaps and bounds, the growth in the sector is a reflection of evolving nature of the market and that of the consumer. American Swan as a new, dynamic brand is seeking avenues to increase its presence through top online aggregators like Myntra, Jabong, and Flipkart as well as through a strong retail footprint pan India. Four Cross Media (www.fourcrossmedia.com), a high-end global digital media conglomerate with a network of innovative businesses has invested Rs 40 crore in this venture.
“We welcome Molland at American Swan. There are not many entrepreneurs who have had the chance to scale companies from small teams to hundreds of people globally, and Maria has done that. We are looking forward to leveraging her expertise with fast growing technology companies as we continue to grow our business,” says Four Cross Media Asia co-founder and managing director Puneet Johar.
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.
