Who are Rajesh Sud, Rajat Monga? Two front runners to become Rana Kapoor's successor

Yes Bank had already informed on December 13, that their search committee’s final recommendation will be submitted to the Reserve Bank of India in their next meeting held on January 09.

Representational Image: Photo: Reuters

After the shocking exit of Rana Kapoor, all eyes on the next man to lead private lender Yes Bank. The share price of Yes Bank finished at Rs 186.95 per piece down by 1.35% on BSE. According to a report by Economic Times, the two front runners for the job are Rajesh Sud and Rajat Monga. The report quoted a source close to the development saying, "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."

Yes Bank had already informed on December 13, that their search committee’s final recommendation will be submitted to the Reserve Bank of India in their next meeting held on January 09.

However, what would be interesting to see is the call of RBI on these two names, especially Rajat Monga.

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Here is all you need to know about the two men:

Rajesh Sud:

Sud completed his qualifications in Advanced Management Program from Wharton Business School, University of Pennsylvania, Philadelphia, USA. He holds a Bachelor of Commerce and an MBA in Marketing and Finance from Faculty of Management Studies, Delhi University.

Aged 48 years, Sud was the Managing Director of Max Life Insurance since November 01 2008. However, he recently said goodbye to the company in September 2018. Apart from this, Sud also served as the Chief Architect of the various processes and policies and has successfully implemented the GOLD system in India. Earlier, he also led Bank of America’s (subsequently acquired by ABN Amro Bank) Consumer Banking Sales department.

Rajat Monga:

Monga has a longstanding relationship with Yes Bank and currently, serves as Senior Group President of Financial Markets of the bank. Since June 2013, Monga has served as Chief Financial Officer and Yes Bank's whole-Time Director untill 2014. Earlier, Monga also worked with Rabo India Finance as the Head, Financial Markets and also was part of Unit Trust of India as a part of the Market Operations Department.

Monga's experties involve in areas of Balance Sheet Management, Treasury Management, Financial Markets and Product Development. Engineer from IIT Delhi, Monga also holds a postgraduate diploma in Management from IIM, Ahmedabad.

A Macquarie research report had said, Rajat has been with the bank since inception, also acting as its CFO when the alleged ‘incorrect accounting’ was done, the RBI may not be willing to grant him a board seat either. Apart from Rajesh Sud and Rajat Monga - few more names that hit headlines of becoming Yes Bank CEO & MD are - V Srinivasan Deputy, MD Axis Bank, whose term ended in December 2018.

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