Ajay Mahajan has resigned from his position as Managing Director and Country Treasurer – Global Markets Group at the Indian operations of Bank of America, and heads to join YES Bank as Country Head - Financial Markets, India. Mahajan, who is intending to assume the new responsibilities in May 2004, would be reporting directly to Rana Kapoor, Managing Director and CEO, YES Bank.
Identifying the new assignments extremely challenging and highly entrepreneurial, Mahajan said: “This will enable me to build a sophisticated financial market business with several product offerings and state-of-the-art technology.” The veteran financial professional has plans to build a strong and solid treasury, excellent balance sheet management and differentiating product capabilities.
Anticipating Mahajan’s move to the organisation, Rana Kapoor, Managing Director and CEO, YES Bank said: “Ajay’s appointment is an extremely positive development. He is amongst the best senior financial market professionals in the country, and his experience at Bank of America will considerably compliment YES Bank’s leadership in building a strong organisation that will thrive on innovation and ingenuity.”