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Lockton India appoints Rahul Bhatia chief of staff for strategic growth
MUMBAI: Lockton India locked in a power move as the world’s largest independent insurance broker appointed Rahul Bhatia as chief of staff, a strategic addition to its leadership as it sharpens its focus on business growth, operational efficiency, and strategic excellence.
With over 17 years of experience spanning wholesale banking and consulting, Bhatia is stepping into this pivotal role with a wealth of expertise in strategy, operations, and financial planning. Translation? He’s got the chops to shake things up.
Before joining Lockton, Bhatia made his mark at Deloitte and First Abu Dhabi Bank (FAB) India, where he held leadership positions that had him steering strategy, operations, and governance. At Deloitte, he served as operations controller & chief of staff, overseeing key functions across multiple locations. Meanwhile, at FAB India, he played a crucial role in designing and implementing strategies, launching new projects, and reinforcing governance frameworks. Add to that his tenure at RBS India, and you’ve got a resume that screams ‘game changer.’
As chief of staff, Bhatia will work directly with the CEO, advising on strategic initiatives and ensuring Lockton India’s business vision turns into reality. His mission? To fine-tune operations, optimise financial planning, and drive long-term growth. In short, he’ll be the brains behind the scenes making sure everything runs like a well-oiled machine.
“Rahul’s vast experience in strategy, financial planning, and corporate advisory makes him a valuable addition to our leadership team,” said Lockton India CEO & country head Sandeep Dadia. “As we continue to scale our presence in India, his expertise will be pivotal in driving operational efficiency and strategic growth initiatives. We are excited to have him on board and look forward to the impact he will bring.”
Lockton India has been on a mission to expand its presence and strengthen its client service capabilities. Bhatia’s appointment aligns perfectly with the firm’s long-term vision of delivering cutting-edge risk management and insurance solutions to businesses navigating an ever-evolving market. Expect bold moves, strategic pivots, and a whole lot of innovation ahead.
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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.
