Yes Bank has announced an internal reshuffle at the top of its risk and compliance apparatus, naming Harish Sehgal as the bank’s Interim Chief Vigilance Officer (CVO) with effect from September 16, 2026. In a move that preserves continuity, Sehgal will also continue to serve as Head – AML & Principal Officer, reporting to the Managing Director & CEO. He is being designated as a Senior Management Personnel (SMP) in addition to his current responsibilities, until a permanent CVO is appointed.
The bank underscored Sehgal’s breadth of experience in anti-money laundering, fraud risk, investigations, sanctions compliance, and regulatory governance. Over the past 15 years with Yes Bank, he has built a prominent portfolio across AML and the Retail Identity and Client Risk Unit (RICU), including leadership stints such as National RCU Head. Before joining Yes Bank, Sehgal spent roughly two years as a Vigilance Officer with HDFC Bank, a background the bank points to as reinforcing its risk and control framework.
The development comes in the wake of the resignation of the previous CVO, Binu Soman, with Yes Bank stating that the interim arrangement will stand until a new CVO is appointed. The move signals a measured approach to governance amid leadership transitions, leveraging an internal veteran who has long been central to the bank’s compliance architecture. By anchoring the interim CVO role within Sehgal’s existing AML leadership, Yes Bank aims for a seamless overlap between vigilance, regulatory alignment, and ongoing risk-management initiatives.
Taken together, the appointment underscores Yes Bank’s emphasis on reinforcing control environments and sustaining a strong compliance culture from within. As the bank hunts for a permanent CVO, Sehgal’s expanded remit as interim CVO and SMP reflects a pragmatic step to ensure stability in vigilance and risk governance while continuing to pursue strategic risk initiatives.