MAM
Global mobile media firm Mobile Streams gains foothold in Asia
MUMBAI: Global mobile media specialist Mobile Streams has acquired the mobile entertainment group Mobilemode.
Founded in 1999, Mobilemode delivers mobile entertainment content and services to mobile phone operators and portals in the Asia Pacific region.
The acquisition of Mobilemode will give Mobile Streams a comprehensive position in Asia Pacific, with a particularly strong focus on Australia, New Zealand, Malaysia, Singapore and Hong Kong. In addition, the acquisition will offer Mobile Streams the immediate benefit of Mobilemode’s experienced management team, and their strong relationships with portals and mobile network operators.
Mobilemode’s key network operator customers are SingTel-Optus, Virgin Mobile and Hutchison 3G in Australia, SingTel and M1 in Singapore and Maxis and Astro in Malaysia. Mobilemode also has strong distribution relationships with eBay, Electronic Arts, Nokia and Discovery Networks, an affiliate of Liberty Media, Mobile Streams’ strategic investor.
Mobilemode’s management team has worked in Asia for many years and will be invaluable in supplementing Mobile Streams’ existing business in the region. The two founding members of Mobilemode, its CEO Jarno Salmivuori and and VP business development Norma Salmivuori will assume management positions within Mobile Streams’ Asia Pacific business unit.
For the year to 31 March 2006, Mobilemode recorded turnover of €1.1m and profit before tax of approximately €48,000.
Mobile Streams CEO Simon Buckingham said, “This acquisition represents a key milestone in the development of Mobile Streams’ global footprint. Mobilemode will provide us with an excellent stepping stone into the advanced markets of Australia, New Zealand, Hong Kong and Singapore whilst at the same time providing a platform for growth in the emerging markets of Taiwan, Indonesia and the Philippines.”
Jarno Salmivuori said, “Mobilemode has established strong relationships and operations in Asia which we look forward to developing and growing further through the combination with Mobile Streams.”
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.
