Money & Banking

Yes Bank’s group president Rajat Monga quits

Our Bureau Mumbai | Updated on October 03, 2019 Published on October 03, 2019

Rajat Monga, the senior group president and former chief financial officer, at Yes Bank. File Photo   -  BusinessLine

Yes Bank’s CEO Ravneet Gill, during a concall said, “For the past two years he has been carrying a lot of load and needed some time off so has decided to leave”

Yes Bank Group Senior President Rajat Monga has resigned from the bank.

“He has quit as a full-time employee, he is still with the bank in an advisory capacity,” Ravneet Gill, Managing Director and CEO, said on Thursday.

Read more: Yes Bank shares crack 20% in afternoon trade

Monga was the Chief Financial Officer at YES Bank at one time and was also seen as a contender for the role of MD and CEO after Rana Kapoor.

“Over the last two years, he has taken a lot of strain. He wanted to leave last September, but we asked him to stay due to the management change. He had health issues and I told him to take a sabbatical but he just felt it was time for him to make a fresh start so he decided to move on,” Gill told BusinessLine.

Also read: Rana Kapoor, promoter group holdings in Yes Bank falls by over 4.5% in a week

“Professionally and personally, I feel very sorry to see him go,” he said.

Earlier in the day, Gill also made the announcement at an analyst concall when he was asked why Monga was not present.

Related news: Rana Kapoor leaves Yes Bank, Ajai Kumar interim CEO

 

Published on October 03, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.