The bank has formed a search and selection committee to find a new CEO.“Rajesh Sud and Rajat Monga are said to be in race to head Yes Bank and their names will be sent to RBI on January 9,” said a source close to the development.The central bank had cut short the term of CEO Rana Kapoor without specifying any reasons. He was the founding member of Max Life Insurance and served as the managing director for close to a decade.Before joining Max Life Insurance, Sud was the head of the asset finance business at ANZ Grindlays Bank. He started his career with Bank of America and held various positions. Dutt, a former IAS officer, has been on the board of Yes Bank since 2013.If the central bank approves Sud’s candidature, he will become the third life insurance CEO to head a private sector bank this year. In October, Sandeep Bakhshi took over as MD and CEO of ICICI Bank from ICICI Prudential Life Insurance, and Amitabh Chaudhary has moved in to head Axis Bank from HDFC Life.

Source: Economic Times January 07, 2019 02:03 UTC