Yes Bank appoints Manish Jain as Country Head- Wholesale Banking today; stock gains marginally

Yes Bank on Wednesday announced Manish Jain as the Country Head- Wholesale Banking with immediate effect. Jain will succeed Ravi Thota, according to stock the statement by the bank to the stock exchanges.

Thota has tendered his resignation on account of personal and other professional commitments.

In his role as Country Head-Whilesale Banking, Jain will be responsible for spearheading the wholesale banking business at Yes Bank, comprising large corporates, the bank said.

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Jain is a senior banking professional with three decades of work experience which includes 23 years in Standard Chartered Bank.

He has worked in diverse geographical locations throughout India serving all client segments like Large Local Corporates, Strategic Groups, Middle Market Companies, Supply Chain Finance, Transaction Banking sales, Multinational Corporates, Financial Institutions, and SMEs.

Prior to Standard Chartered Bank, Jain worked with Ernst & Young Consulting India, GE India, and Maruti Suzuki.

Jain holds a Master of Business Administration from IIM Bangalore and a BTech in Mechanical Engineering from IIT Delhi.

Yes Bank stock traded at ₹17.45 apiece, up by 0.58% at the time of writing.

Last week, Yes Bank appointed Pankaj Sharma as Chief Strategy and Transformation Officer. On 21 September, Yes Bank told exchanges that Sharma will work with key stakeholders to develop a roadmap to achieve the bank’s financial objectives.

Sharma will be responsible for identifying and evaluating growth opportunities.

"Responsible for innovation, partnerships and transformation, he will play a critical role in ensuring the successful development and execution of the bank’s strategic priorities, said Yes Bank in its statement.

Sharma is a banking professional with 25 years of experience in the Banking and Financial Services (BFSI) industry. He joined Yes Bank from RBL Bank, where he was COO and responsible for Operations, Transformation & Corporate Services.

He previously held several executive positions with Axis Bank, ICICI Bank, ICICI Prudential Life Insurance and GE Countrywide.