Brands
Motilal Oswal elevates marketing maven Mundra to group media head
MUMBAI: Financial services giant Motilal Oswal has promoted Varun Mundra to group head of media and innovations, capping the digital-first marketer’s swift rise through the company’s marketing ranks.
Mundra, who joined the firm less than three years ago, steps up from his previous role as senior vice president of marketing for the wealth management division, where he spearheaded brand growth and product excellence initiatives for India’s seventh-largest broking house.
“The journey has been nothing short of amazing—filled with learnings, challenges, and some big wins along the way,” Mundra said of his time at Motilal Oswal. He credited senior leadership, including Sandeep Walunj, for their “trust and support” in his ascent.
The ET Brand Equity Shark 2024 “Rising Star” winner brings a distinctive pedigree to the role, having cut his teeth at several top-flight advertising agencies. Before joining Motilal Oswal in 2022, Mundra served as director of business and client relations at The Glitch, where he managed campaigns for CoinSwitch, Kuber, SleepyCat and Netflix India.
His résumé includes stints at White Rivers Media, Isobar, Jack in the Box Worldwide and Dentsu Webchutney, where he honed his craft working with blue-chip clients like Hindustan Unilever, Visa India, CEAT Tyres and Godrej.
Industry observers note that Mundra’s promotion coincides with Motilal Oswal’s aggressive push to modernise its marketing approach and capture India’s digitally-savvy retail investor community.
The marketing executive’s previous initiatives at the firm included securing branding rights to Mumbai’s Malad Metro Station—establishing “Motilal Oswal Malad West”—and creating branded studio partnerships with financial news channels CNBCTV18, CNBC Awaaz and CNBC Bajar.
Mundra’s entrepreneurial spirit emerged early when, as a 17-year-old college student, he founded a digital agency that landed him features on CNBCTV18’s Young Turks and in The Times of India. He holds degrees from the University of Westminster and Coventry University London.
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.
