MAM
Lodestar UM collaborates with LGBTQIA+ owned businesses for impact day
Mumbai : Lodestar UM, the India unit of UM, a global media agency network of IPG Mediabrands, has announced its participation in the seventh global Impact Day, under the theme, “ONE Day, ONE UM, ONE Better World.” Launched in 2016 under UM’s corporate social responsibility unit, Better World, Impact Day reflects the agency’s commitment to its core values of community, curiosity and courage.
UM employees will participate in activities around three Impact Day pillars:
· Equity – Acts of service that directly impact underserved communities.
· Sustainability – Acts of service that directly impact our planet, locally or globally.
Wellness – Acts of service that directly impact the well-being of another person’s physical or mental health.
In India, Lodestar UM has collaborated with LGBTQIA+ owned businesses such as Kai By Mangi, Dopamore, Arttitty, Sabarshh, Ash.Co, Embarque.co, Queergaon, Astitva Jewelry, Podi Nan Maga, and Scoby Labs. These businesses offer a variety of products, including natural lip gloss and oil, stylish handcrafted accessories, elegant bags and purses, vibrant shirts, handmade exquisite stone jewellery, ceramic ware, fashion apparel, bags, stone and bead accessories, lip-smacking pickles, podis and snacks, resin art accessories, and fermented drinks. By providing a platform to showcase and sell their products, the agency aims to create meaningful, tangible benefits for the community.
“Our idea for Impact Day goes beyond commerce; we aim to foster enriching connections and meaningful experiences that positively impact the community,” said Lodestar UM CEO Aditi Mishra. “By supporting LGBTQIA+ businesses, we are not only contributing to economic empowerment but also celebrating diversity and inclusion in a tangible way. Impact Day is a powerful reminder of how our collective efforts can drive meaningful change and create a better world for everyone.”
“UMers from all over the globe look forward every year to volunteering as one connected team for our beloved Impact Day tradition,” said Global CEO, UM Andrea Suarez. “Our theme this year, ‘ONE Day, ONE UM, ONE Better World’ highlights the incredible impact we can have when we harness the power of our collective action to give back to the communities in which we live, serve and flourish.”
“Impact Day is a powerful reminder of the positive change we can create when we come together as a global community. It’s a chance for UMers across APAC to make a real difference in the lives of others, and I’m incredibly proud of the diverse and impactful initiatives happening across the region,” said APAC president UM Kasper Aakerlund.
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.
