Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Money & Banking
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People HDFC Bank official may join YES Bank Poornima Mohandas
Mumbai , Dec. 9 MR H. Srikrishnan, Country Head (Transactional Banking & Operations), HDFC Bank, is expected to join the top management team of the yet-to-be-set-up YES Bank.and could possibly even head it. According to industry sources, Mr Srikrishnan is still to put in his papers at HDFC Bank. When contacted, Mr Srikrishnan declined to comment. He only said, "I have received many phone calls asking me the same thing and I will not say anything." According to the sources, Mr Srikrishnan has received an offer but is yet to decide on whether to take it up. Mr Rana Kapoor, one of the two Indian promoters of YES Bank and the CEO-designate, also declined comment. Recently, Mr Kapoor announced his resignation from Rabo India Finance to head the new bank. US recruitment agency Korn Ferry is engaged in short-listing the names for the new team at the bank. Mr Srikrishnan joined HDFC Bank in 1995 and was previously employed with Emirates Bank International Ltd after a stint in Bank of America. Board constituted Meanwhile, activity is gathering pace in YES Bank, which had hit a number of speed-breakers in the recent past. The bank's board has been constituted, comprising the two promoters, Mr Kapoor and Mr Ashok Kapur; two representatives from Rabobank International; one each from three private equity funds, CVC Capital Partners, ChrysCapital and the Russell Asian Infrastructure Fund; and independent directors. However, the regulator's final nod is necessary for the board constitution. The first meeting of the board of directors is to be held in January. RBI procedures are on to convert the granted banking licence into an approval to commence business. The headquarters will be at Nehru Centre, Worli.
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