Ravneet Gill is set to become the new MD and CEO of Yes Bank from March 1 onwards.
Ravneet Gill’s fondest childhood memories are of playing cricket with his neighbour Raghuram Rajan in Delhi. Even as a middle-order batsman and a bowler in Deutsche Bank cricket team, he was known to be an aggressive player by his colleagues. This all-rounder record by Gill is what possibly made him the best fit for the top job at Yes Bank where he takes over as the new managing director and chief executive officer from March 1.
A veteran at Deutsche Bank, and its current India CEO, Gill has been with the bank since 1991. He started off from the private wealth management domain and moved to corporate banking two years later. He was among those that worked across all key functions including corporate banking, capital markets, treasury solutions, investment banking, retail and private banking at Deutsche Bank AG.
Gill took over as the head of corporate banking coverage in 2003 and held the position till December 2008. After this, he was appointed as the head of coverage for global markets.
In 2011, Gill took over as the head of capital markets & treasury solutions in India before becoming the CEO of Deutsche Bank India in 2012. He was recently reappointed for the third term as the India head of the bank.
Yes Bank in a statement said in his most recent role as CEO of Deutsche Bank’s businesses in India, Gill ensured one of the lowest rate of non-performing assets (NPAs) in the industry.
“He delivered one of the highest post-tax returns on equity amongst all banks in India with a team of over 14,000 employees,” said the bank in a statement.
The internal and external search panel found the right fit in Gill who also has prior experience dealing with large corporate accounts. Yes Bank had reported a divergence in gross bad loans of Rs 6,355 crore in FY17.
A Masters degree holder in Political Science from Hindu College (Delhi), Gill was often questioned on why he took up a banking job. When asked by a financial daily, Gill's answer was,‘Why not?’
It would have been a loss for the banking industry if he became a civil servant like his father.
Being mentored by industry leaders like Deepak Parekh and Hemendra Kothari will come in handy for Gill who will now head the country’s fifth largest private bank. At a time when Yes Bank moves into the next phase of growth, Gill’s past expertise is what could be the make-or-break moment for the lender.