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HRD Antwerp taps Paul De Wachter as ceo
Mumbai: HRD Antwerp has named Paul De Wachter as its new ceo, handing the reins to a diamond industry veteran at a moment of rapid change for the global gems trade.
Appointed by the board of directors of HRD Antwerp, a subsidiary of the Antwerp World Diamond Centre, De Wachter takes charge from January 5. His brief is clear: sharpen HRD’s role as a trusted certifier and steer the organisation through shifting consumer tastes, tighter scrutiny and the rise of lab-grown diamonds.
De Wachter brings more than two decades of experience across banking and diamonds. He began his career in 2002, rising to senior relationship manager at Antwerp Diamond Bank, before a stint at Channel Capital Advisors. He later joined the National Bank of Fujairah, where he spent over seven years, first as head of the Antwerp representative office and, from 2020, as head of the diamond unit—expanding the bank’s footprint and strengthening its standing in the sector.
“With his international experience, strong network and proven results, Paul is the right leader to take HRD Antwerp into the future,” said Bart De Hantsetters on behalf of the board.
For De Wachter, the timing is as challenging as it is opportune. “The diamond industry is at an inflection point,” he said, citing evolving consumer expectations and the growing presence of lab-grown stones. “HRD has a crucial role to play as a trusted partner, and I am fully committed to strengthening that position.”
Founded in 1973, HRD Antwerp is Europe’s leading authority in diamond grading, jewellery certification and education, drawing on centuries of Antwerp’s diamond-trading heritage. In India, the organisation has steadily expanded its footprint since opening a diamond grading laboratory in Mumbai in 2012, followed by jewellery certification in 2018. Today, HRD India operates from Mumbai’s Bandra Kurla Complex, with labs and drop-off points across SEEPZ, Surat, Delhi, Jaipur, Kolkata and Hyderabad.
As scrutiny intensifies and the market evolves, HRD Antwerp is betting on seasoned leadership. With De Wachter at the helm, the message is unmistakable: the world’s diamonds may be changing, but trust remains non-negotiable.
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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.
