Financial Daily from THE HINDU group of publications
Thursday, Jul 15, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 15, 2004 |
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Money & Banking
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Software Yes Bank plans soft launch in Aug Our Bureau
Mr Rana Kapoor, Managing Director & CEO, Yes Bank, and Mr Rajesh Hukku, Chairman & Managing Director, i-flex Solutions, at a press conference in Mumbai on Wednesday. — Paul Noronha
Mumbai , June 14 THE yet-to-be launched, private sector, Yes Bank, is on a recruitment spree. The bank, which proposes to have a formal launch in February 2005, plans to recruit over 165 people by March 2005. "We plan to have a team of 250 people by March 2005; we now have a team of 85. We will be hiring people at the top, middle and branch level staff,'' said Mr Rana Kapoor, MD & CEO, Yes Bank, at the bank's maiden press conference held here on Wednesday. Job consultants Korn Ferry, ABC and Personal Search are conducting the search for people. The top slots now vacant include heads for departments of retail banking, transactional banking, corporate and institutional banking and business banking which deals with SMEs and smaller corporates. The bank will have a soft launch in August 2004 and we will have a full-blown launch in mid Q4. The bank today adopted I-flex Solution's software platform FLEXCUBE as its core-banking backbone across retail, corporate and investment banking operations. Yes Bank and I-flex together also have plans to float a separate entity to handle business processes of other banks, said Mr Rajesh Hukku, CMD, I-flex Solutions. Yes Bank plans to have eight branches by March 2005. The first branch will be in Mumbai followed by New Delhi, Chennai, Kolkata, Hyderabad, Bangalore, Pune and Ahmedabad.
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