MAM
L&K Saatchi & Saatchi bags creative mandate of Akasa Air
Mumbai: L&K Saatchi & Saatchi has won the creative mandate of India’s newest airline brand, Akasa Air. As its creative partner, the agency will manage strategic and creative initiatives for the airline, which include developing brand and tactical communication for above-the-line and below-the-line elements. It will also develop brand communication campaigns and creatives for launch and sustenance phases and be involved in designing brand identity applications across mediums.
The account will be managed by the Mumbai office of the agency.
Commenting on the association, Akasa Air co-founder and chief marketing & experience officer Belson Coutinho said, “We are on a journey to build India’s most dependable and affordable airline that delivers warm, reliable, and efficient service. Hence, it is inevitable to have a communication strategy that complements both the brand promise and our actual delivery on the ground. We want our brand communication to be authentic, drive creativity and innovation, and at the same time reflect our core value of empathy.”
“We found L&K Saatchi & Saatchi an ideal partner to help us on our journey with their creative, collaborative, and insights-led approach, and we are pleased to have them on board as our Agency on Record,” he added.
Sharing his views on how Akasa Air would power India’s growth engine, L&K Saatchi & Saatchi CEO Paritosh Srivastava said, “It’s literally a once-in-a-lifetime opportunity to launch an airline; it doesn’t get bigger than this. The experience of being a part of the core team at Akasa and going through the journey of the launch of something as massive and transformational for our country and people is truly humbling. Aviation is a tough business, and everyone involved has to bring their best game to the table. We will try everything in our power to contribute to Akasa’s success in the time to come. We believe we are not an agency for Akasa; we feel a sense of ownership, and treat this as our own business.”
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.
