YES Bank have rallied 6% to Rs 255 on the
BSE in early morning trade after the private sector lender appointed US-based headhunter Korn Ferry to assist the bank’s committee in its selection of the new managing director & chief executive officer (MD & CEO).
The advisory firm was appointed in a meeting held on Thursday. The meeting was attended by all members of the “Search and Selection” committee, said the bank in a filing to the exchanges.
The private sector lender on October 5 after market hours had said that it has invited proposals from global leadership advisory firms and will finalise the company in the committee’s first meeting, which is scheduled to be held on October 11.
Based on assessments and presentations made by four global advisory firms, the Search and Selection Committee has mandated Korn Ferry to assist the committee in evaluating candidates, Yes Bank said in a statement.
At 10:18 am; YES Bank was trading 4.3% higher at Rs 250 as compared to 2% rise in the benchmark index. A combined 15.05 million equity shares changed hands on the counter on the NSE and BSE so far.