MAM
Rakesh Hinduja to step down as Leo Burnett West COO
MUMBAI: Leo Burnett Group India, has announced that Leo Burnett west COO Rakesh Hinduja will be moving on from the agency in order to pursue other opportunities.
Rakesh has been with the group for more than 14 years and in his current role was COO west for Leo Burnett India.
In his five-year stint at Leo Burnett, Rakesh played a crucial role in building Leo Burnett’s ‘new-age’ solution ecosystem, which included creating highly motivated and talented teams. He has helped double the agency’s Mumbai office which won multiple accounts and created memorable work over the last few years by building the business with genuine partnership with clients and brands. He has created wave 3 ‘new age’ solutions consistently across brands. His disproportionate focus on improving the product helped win at various international and local awards including The Cannes Lions, The One Show, D&AD, Spikes Asia, Effies and more.
Leo Burnett South Asia MD India & chief strategy officer Dheeraj Sinha said, “Rakesh had a great run with us. He’s been a great business partner and a dear friend. We wish him all the very best. We are fortunate that we have a stellar team of business, creative and strategy leaders in our Mumbai office, who continue to run our businesses. We have a great momentum at Leo Burnett in terms of new business wins and our creative work. We continue to be relentlessly focused on creating great work and great growth.”
Leo Burnett South Asia MD India & chief creative officer Rajdeepak Das said, “Rakesh is a great friend and a brother to me. In his stint at Leo Burnett, he’s also been one of the core people behind creating some legendary work and big business wins. He partnered the agency to lead the third wave. We have some crazy memories which I will cherish. And I wish him nothing but the best for his future.”
Rakesh Hinduja said, "I’ve enjoyed every day of my stint at Leo Burnett. Creating world class work which makes real business impact has been truly fulfilling. We have had incredible success at the agency in the last few years with a magical group of people that worked together. In this journey, I have made some fabulous friends at the agency and clients. I’m very excited about the future. The next chapter will be glorious."
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.
