Yes Bank, India’s fourth-largest private sector bank, on Saturday announced the appointment of Brahm Dutt as non-executive part-time chairman. “The Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Mr Brahm Dutt’s outstanding credentials and experience, has approved his appointment…up till July 4, 2020,” Yes Bank said in a regulatory filing.
Brahm Dutt has been on Yes Bank’s board since July 2013 as an independent director, and contributed to almost all the sub-committees of the board over the past five and a half years, it added.
He is currently also the chairman of the Nomination and Remuneration Committee.
During his career of 37 years as an IAS officer, he held several posts in the Karnataka government as well as in the central government. Before retirement, he worked as secretary in the Cabinet Secretariat and in the Ministry of Road Transport and Highways for over three and half years.
Yes Bank’s board also includes Mukesh Sabharwal, Subhash Kalia, Ajai Kumar, Pratima Sheorey, Uttam Prakash Agarwal, TS Vijayan, and Rana Kapoor (managing director and CEO). Meanwhile, Yes Bank executive Rajat Monga and a CEO of a foreign bank have been shortlisted to succeed Rana Kapoor, according to sources.
Earlier this week, the bank informed stock exchanges that it had shortlisted the names of potential candidates to succeed Kapoor, set to demit office by the end of the month.