MAM
Synovate acquires majority stake in COMCON to expand in Russia
MUMBAI: Market research company Synovate has signed an agreement to acquire a majority stake in the independent market research agency COMCON in Russia.
With this, Synovate becomes Russia‘s second largest research firm.
Synovate said in a statement that in the coming months, the management, operations and research capabilities of both the companies in Russia will be integrated into a single Synovate branded business.
Established in 1991, COMCON is among the four biggest research companies in Russia with offices in Moscow and St Petersburg. The business, which is currently wholly owned by COMCON management, has custom and syndicated research capabilities and an established customer base in a number of key industry sectors, including healthcare, FMCG, financial services and media.
Synovate Global CEO Robert Philpott said, “The acquisition of COMCON will make Synovate the leading market research company in Russia, with increased scale and resources, a wider range of management expertise and a more diverse client base.”
Philpott also said that the combination of COMCON‘s Russian business and Synovate‘s existing Russian operation creates an opportunity for them to be number one in the Russian market.
“Looking ahead, our significantly broader footprint in Russia will enable us to assist domestic clients to expand internationally and to support global clients in gaining access to the Russian market. This transaction therefore consolidates Synovate‘s position as a leading market research provider within the Eastern European region,” he added.
COMCON general director and founder Elena Koneva will become managing director of the new combined business with immediate effect.
Koneva said, “We have many complementary features, including our staff, services, methodologies and client sectors. This will be an exciting opportunity for us, becoming part of a leading global company and integrating the best of what we already have – great clients, great people and a great culture.”
The current managing director of Synovate Russia Panicos Ioannides will assist Koneva in her new role.
“We will integrate the business to create an even stronger team and ensuring our people is recognised as our most valuable business resource”, Koneva said.
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.
