Brands
IWC celebrates new Pilot’s watches launch in Geneva
MUMBAI: IWC Schaffhausen celebrated the launch of its new Pilot’s Watches with an exclusive gala evening at the Salon International de la Haute Horlogerie (SIHH) in Geneva. Around 800 guests had the chance to admire a true icon of British aviation – the Spitfire – and ring in the year of Pilot’s Watches together with IWC. Among them were numerous prominent brand ambassadors of the Swiss luxury watch manufacturer such as Bradley Cooper, Rosamund Pike, Dev Patel, Adriana Lima, James Marsden, Karolina Kurkova, and Sonam Kapoor.
This week at the Salon International de la Haute Horlogerie in Geneva, IWC Schaffhausen unveiled its new Spitfire, TOP GUN and “Le Petit Prince” models. This year, the Swiss luxury watch manufacturer invited the international IWC family and guests to come together at an exclusive gala evening to live the dream of flying.
The first of many highlights of the evening came when a real Spitfire landed spectacularly on site. Out strode British pilot Matt Jones, who intends to take off on a round-the-world trip in the Silver Spitfire next summer, starting in Goodwood, England.
IWC is supporting the ‘Silver Spitfire − The Longest Flight’ project as its main sponsor. Musical highlights were provided by successful Icelandic quartet Kaleo, who performed some of their best-known hits such as ‘Way down we go’ as well as IWC‘s very own house band who came together especially for the evening.
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.
