Yes Bank poaches another top Axis Bank executive Sonu Bhasin

MUMBAI: In a sign of jostling for top-tier talent, private sector lender Yes Bank today said it has poached two high-ranking executives from rival Axis Bank in the recent past.

Today the bank said it has appointed Sonu Bhasin as group president for branch banking. Bhasin was the president and head of retail banking and investment products, and sales, management division at Axis Bank since 2005.

Bhasin's appointment comes soon after Yes Bank poached Rajagopal Srivatsa from Axis Bank and appointed him as the group president for liability management and transaction banking.

That good talent at senior and mid-level is hard to find easily was clear when the other day HSBC India chief executive Stuart Davis had said he was finding it difficult to offset the high attrition in his bank, even though his parent had announced axing of 30,000 jobs globally.

At Axis Bank, Bhasin was credited with setting up the third- party, wealth and private banking businesses, and was also responsible for the overall growth of retail liabilities, and investment products, the release said.

Bhasin, who has 24 years of experience, will be responsible for building Yes Bank's CASA deposit base, retail liabilities, retail assets, wealth management, NRI and distribution revenues besides forging partnerships.