MAM
Xerox in 5-year sponsorship deal for US Open
MUMBAI: The United States Tennis Association (USTA) and Xerox have announced that Xerox has agreed to a five-year partnership to officially sponsor the US Open and Arthur Ashe Kids’ Day presented by Hess, starting next year.
Xerox will serve as the exclusive office equipment and document technology and services provider for both the US Open and Arthur Ashe Kids’ Day. The partnership includes on-site presence, media support of tournament television broadcasts and a robust relationship with USOpen.org, the official website of the US Open.
On-site at the US Open, Xerox will be provided with both courtside and ring signage in Arthur Ashe Stadium and the Louis Armstrong Stadium as well as other tournament courts.
As a partner with the US Open, Xerox document technology will be integrated in all key areas of the US Open, including tournament operations, business operations and the US Open Media Center. Xerox will work with the USTA to improve the efficiency and effectiveness of communication to key constituencies through the use of Xerox’s document technology and services.
As an official partner of Arthur Ashe Kids’ Day, Xerox will be the title sponsor of the Performance Challenge, which is a featured component of the stadium show where top players attempt to hit targets in order to raise money for their designated charity.
Xerox CMO Christa Carone said, “The USTA does a masterful job of creating on-court excitement for tennis fans around the world. Off the courts is a hub of activity to serve up fast and accurate communication with officials, administrators, press, players and guests. That’s where Xerox comes in. Through our document technology and services, we’ll give the USTA more freedom to focus on their real business – on the court and off.”
USTA chief business and marketing officer Harlan Stone said, “Once again the US Open has attracted a leader in its respective business category. Xerox’s expertise will allow the USTA to simplify the flow of information at the US Open as we bring Xerox’s world-class document technology and support to this global event.”
Arthur Ashe Kids’ Day presented by Hess will kick off the 2011 US Open on 27 August. The 2011 US Open will run 29 August – 11 September.
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.
