Axis Capital announced Atul Mehra as the company’s Managing Director & CEO on Monday, pending necessary approvals. Mehra is set to oversee both the Investment Banking and Institutional Equities divisions at Axis Capital.
Atul Mehra has been appointed as the new CEO and MD for Axis Capital
Appointment Announcement
Axis Capital announced on Monday the appointment of Atul Mehra as the Managing Director & CEO, pending requisite approvals. Mehra will oversee both the Investment Banking and Institutional Equities divisions.
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Farewell to Salil Pitale
Salil Pitale, who served as MD & Co-CEO for five years, has decided to depart from the firm. The Axis Capital Board expressed appreciation for his contributions and leadership.
Atul Mehra’s Background
Atul Mehra, a seasoned deal maker and former Jt. MD at JM Financial Ltd, brings over 32 years of experience to Axis Capital. He has spearheaded notable ECM and M&A transactions in domestic and international markets.
Additional Appointments
In conjunction with Mehra’s appointment, Axis Capital announced Parag Gude, a Morgan Stanley veteran, as the COO for Institutional Equities, and Dhaval Desai as Head of Cash Equities.
What do experts have to say about this appointment?
Amitabh Chaudhry, Chairperson, Axis Capital Ltd, said, “Over the past decade, Axis Capital has led the ECM and Advisory league tables, increased market share in Equities and Derivatives and built a strong Research team. In line with Axis Bank’s stated objective of strengthening the investment banking and institutional equities businesses, I am delighted to welcome Atul to Axis Capital. I am confident that Atul will strengthen the business and further cement its leadership position. We would also like to thank Salil for his contribution and wish him the very best.”
On the appointment, Atul Mehra said, “Indian Investment Banking landscape is at an inflection point with the India story finding resonance across the globe. Leading an investment bank like Axis Capital is a very exciting proposition. The foundation of Axis Capital is the robust network of premier institutional investors spanning India, the US, Europe, the Far East & the Middle East. These relationships have been nurtured through continuous engagement, leveraging comprehensive research capabilities and unique market insights provided by the extensive network of Axis Capital and Axis Bank with Indian organizations.”
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Conclusion
In ushering in Atul Mehra as the new Managing Director & CEO, alongside key appointments of Parag Gude and Dhaval Desai, Axis Capital embarks on a new chapter marked by seasoned leadership and strategic vision. Mehra’s wealth of experience in deal-making, coupled with the board’s acknowledgment of Salil Pitale’s contributions, sets the stage for continued excellence in investment banking and equities. With a focus on innovation and client-centric approaches, Axis Capital is poised to navigate dynamic market landscapes and deliver impactful financial solutions in the years ahead.
