Investment bank Axis Capital, which has seen multiple departures at the top level in the past few months, has appointed veteran banker Atul Mehra as managing director and chief executive officer.
Mehra comes with more than three-decades of experience, involving deals in equity capital market (ECM) and mergers and acquisitions (M&A). He previously was joint MD at investment bank JM Financial Ltd.
As a part of his role, Mehra will oversee both the investment banking and institutional equities businesses of the investment banking arm of the country’s fourth-largest private lender Axis Bank.
The i-bank, which competes with firms such as Kotak, Morgan Stanely, among others, has advised on some of India's biggest public offerings last year including condom-maker Mankind Pharma's $500-million offering.
“In line with Axis Bank’s objective of strengthening the investment banking and institutional equities businesses, I am delighted to welcome Atul to Axis Capital,” said Amitabh Chaudhry, chairperson, Axis Capital, in a statement.
Mehra’s appointment comes about four months after the investment bank saw its two co-heads leave the firm in the last few months. Salil Pitale stepped down from his position in January, while his co-head Chirag Negandhi left in September last year. The firm also reportedly saw two of its ECM leadership resign in the last few months.
“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,” said Mehra.
Axis Capital has also appointed Parag Gude as its chief operating officer – institutional equities, and Dhaval Desai as head – cash equities.
