ICICI Prudential Asset Management Company Limited has announced the appointment of Prashant Kumar as an Additional Director in the Independent Director category for a five-year term, effective May 1, 2026 to April 30, 2031. The move, subject to member approval and adherence to regulatory guidelines, signals a strategic push to strengthen governance at the asset manager.
Kumar brings a storied corporate leadership background, most recently serving as Managing Director and Chief Executive Officer of YES BANK Limited from March 2020 until April 5, 2026. Under his leadership, YES BANK embarked on a comprehensive turnaround, rebuilding core foundations, securing capital, and advancing a strategic partnership with Sumitomo Mitsui Banking Corporation (SMBC) that culminated in a 24.9% stake acquisition in September 2025. Prior to YES BANK, Kumar was Deputy Managing Director & CFO of State Bank of India, among other roles, gaining broad exposure across finance, operations and human resources. He holds a degree in science and law from Delhi University.
The board notes that Kumar’s appointment is subject to approval by the Members of the Company and compliance with applicable regulatory guidelines. His diverse experience across large financial institutions is expected to enrich ICICI Prudential AMC’s governance and strategic oversight, reinforcing the company’s leadership bench as it navigates a dynamic asset-management landscape.