MAM
Rediffusion-Y&R Group partners with The Social Street
MUMBAI: Rediffusion – Y&R Group and The Social Street have entered into a strategic alliance to provide value added marketing services to clients of Rediffusion – Y&R, Everest Brand Solutions and Rediffusion Wunderman effective from 1 March, 2016.
The alliance will enable Rediffusion-Y&R Group’s clients to benefit from The Social Street’s network, capabilities, and expertise in bringing together more effective and optimised solutions to clients. This integrated offering will include digital, media, experiential, out of home, retail, entertainment, cause marketing and also extends to semi-urban and rural activations and outreach.
Rediffusion-Y&R Group president Dhunji S Wadia said, “This is one of the deepest integrations to date, marking yet another milestone in the Group’s plan for a consolidated media investment management operation. Our services are designed to offer an integrated yet seamless solution across the communications continuum. The focus is to bring competitive advantage to our clients and our companies.”
The Social Street founding partner and chairman Pratap Bose added, “This is going to be a very exciting journey for both Rediffusion and us. It will be a great growth story to tell the world. Our shared vision and collective capabilities should help us serve nothing but the best to all the clients as part of this alliance. We are all focused on one single client centric objective through this alliance and that is unlocking value for clients. With the wealth of expertise in both Rediffusion and TSS, I have no doubt in saying that we will make it the strongest and successful alliance ever.”
The Social Street founding partner and CEO Mandeep Malhotra said, “I am personally very excited about this alliance and looking forward to creating many stories together in this journey with Rediffusion. My career in the agency world started with Rediffusion and it feels now that the circle is getting closer. There is nothing more exciting for me then working with energetic, talented, committed and a fun team. Organisations that partner or compliment each other in this manner are going to be more nimble footed in the future, in creating customer-oriented value.”
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.
