Mumbai Terror: Yes Bank non-exe chairman dead

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Mumbai Terror: Yes Bank non-exe chairman dead

This article was posted on Nov 28, 2008 and is filed under Market Outlook

Ashok Kapur, non-executive chairman of private sector lender Yes Bank, has been killed by terrorists in the Trident-Oberoi hotel complex in Mumbai.Kapur was the founding promoter and held 11.83 per cent stake in the bank at the end of September 2008.

His body was found on the 19th floor of the hotel, a bank spokesperson said this evening. Kapur had gone to the Oberoi for dinner on Wednesday at one of the restaurants on the ground floor. His wife and friends, who had accompanied him, however, managed to escape. The news of his death came this evening.

Along with the bank’s managing director & CEO Rana Kapoor, Ashok Kapur, who started his career with Grindlays Bank, was instrumental in setting up the new generation bank.

At Grindlays, Kapur served in various capacities, including general manager for institutional banking and managing director or Grindlays Merchant Bank of Nigeria.

He also worked as ABN Amro’s regional manager (executive vice-president) in Singapore, where he was involved with the geographical spread of the Asian Australian branch network as also the different business groups, including commercial and investment banking. Kapur was the first Asian to be appointed ABN Amro’s country manager for India.

Prior to joining Yes Bank, Kapur was the managing director of Rabo India and led a management team to partner Rabobank Netherlands to set up the financial services company focused on corporate and structured finance for the Indian market. RaboBank International Holding BV held over 18 per cent stake in Yes Bank at the end of September.

During his stint at Rabo, the company advised the Tatas on the Tetley acquisition, the biggest overseas M&A deal by an Indian company for a long time.

source: BusinessStandard

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