Axis Bank Veteran Sumit Bali to join Yes Bank as Head of Retail Assets

Yes Bank, the private lender, has named former Axis Bank executive Sumit Bali as Head of Retail Assets. According to sources, Bali will join Yes Bank on August 26 and report to Executive Director Rajan Pental. Bali will replace Lavesh Sardana, who served as Yes Bank’s national Head of Retail Assets and Debt Management.

After serving four years as Group Executive of Retail Lending at Axis Bank, Bali resigned from his position on June 13 of this year. With nearly three decades of experience in the retail banking industry, he spent over 24 years at Kotak Mahindra Bank. Among other key positions, he served as the CEO of Kotak Mahindra Prime Ltd. and played a key role in integrating ING Vysya Bank following the Kotak-ING Vysya Bank merger. Before joining Axis Bank, he was the CEO and Executive Director of IIFL Finance. Bali holds a BA (Honours) in Mathematics from St. Stephen’s College, Delhi, and a PGDM from IIM Ahmedabad.