A search panel entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted multiple names.
A search panel entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted multiple names, sources privy to the developments told CNBC-TV18.
The first priority has been given to the external candidate, who is the chief executive officer (CEO) of a foreign bank and the second name on the list is Yes Bank executive Rajat Monga, said people familiar with the matter.
Monga has been with Yes Bank since its inception in 2004 and currently serves as senior group president of financial markets at the bank and has also held the post of the chief financial officer in the past.
However, Rajesh Sud, the former MD of Max Life Insurance, one of the shortlisted candidates to succeed Kapoor, is not on the list.
The search panel has closely screened 7-8 prospective candidates to succeed long-serving managing director and CEO Kapoor at the bank, and the list was further pruned to four names of which two names were proposed.
Earlier this week, the bank informed stock exchanges that it has shortlisted the names of potential candidates to succeed Kapoor, who is to demit office by month-end.
The Reserve Bank of India (RBI) has asked the private sector lender to find replacement of Kapoor, who will continue as the MD and CEO till January 31.
First Published: IST