Yes Bank, India's 4th largest private sector bank on Wednesday announced the appointment of Niranjan Banodkar as its Group Chief Financial Officer (CFO) with effect from Jan. 1, 2021.

Banodkar will replace Anurag Adlakha who has been appointed Chief Human Resources Officer (CHRO), the bank said.

Niranjan Banodkar has 17 years of diverse experience in Banking in Risk Management, Capital Markets, Financial Planning and Strategy.He is currently responsible for the Strategy & Planning function as well as driving the Sustainability agenda at the Bank.

Niranjan started working with Yes Bank in April 2006 and was a key member in setting up the Market Risk function, the bank said.

As Head of Market Risk, he was responsible for setting up policies, procedures and limits for prudent risk taking across the Bank's Financial Markets businesses, the bank said.

Over the last six years, as Head of Financial & Investor Strategy, he has successfully led multiple fund raising across equity and debt instruments, the bank said.

Niranjan started his Banking career with Bank of Bahrain and Kuwait and has also briefly worked with E&Y in their Risk & Business Solutions practice. He is a Chartered Accountant and has also cleared FRM (GARP) exam.

 Shares of the bank gained Rs 0.04, or 0.23%, to settle  at  Rs 17.77.  The total volume of shares traded  was  12,298,635 at  the BSE (Wednesday).