MAM
Jain Amar stitches a new chapter with Akhil Jain as MD & CEO
MUMBAI: In the fast-paced world of fashion, it takes more than just good tailoring to survive—it takes a visionary with the swagger of a brand builder and the precision of a CFO. Jain Amar, the powerhouse behind Madame, Camla Barcelona, and Msecret, just handed the reins to one such sharp dresser: Akhil Jain. As of April 2025, he takes over as MD & CEO.
And this isn’t a ceremonial title change tucked into an HR memo. It’s a strategic style reboot. The announcement came hot off the ramp at the Jain Amar Leadership Summit 2025, attended by the top 25 leaders including board members and HODs. The agenda? Growth, governance, and getting IPO-ready by 2027. No pressure.
Akhil is no rookie parachuted in for optics. A scion of the promoter family and a NIFT alum with an executive toolkit from IIM-A and Harvard, he’s been grinding across the brand’s verticals for over 20 years. Until now, he served as executive director, overseeing brand strategy, tech integration and retail reinvention—basically turning buzzwords into bottom lines.
In his new role, Akhil is tasked with driving growth across online and offline channels, creating a unified brand voice, and embedding DAR (Decision-Action-Responsibility) frameworks across operations. Oh, and let’s not forget tighter budget controls and investing in people power.
“This is not just a new role—it’s a new rhythm. We’re moving from isolated departments to a single unified movement. I believe Jain Amar’s next era will be defined by how well we align people, process, and purpose. I’m grateful for the trust placed in me and excited to lead this extraordinary team into the future,” said Akhil.
The board, for its part, seems anything but nervous. Instead, they called Akhil’s elevation “timely”, especially in a landscape where fashion brands are juggling digital disruption, fickle consumer behaviour, and the existential crisis known as AI.
With an IPO on the horizon and a generational leader at the wheel, Jain Amar is clearly done playing dress-up. Now, it’s game on.
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.
