Atul Mehra replaces Salil Pitale as MD & CEO for Axis Capital

Delhi: Axis Capital has appointed Atul Mehra as the Managing Director and CEO (designate), subject to receipt of requisite approvals. Mehra will be overseeing both the Investment Banking and Institutional Equities businesses of Axis Capital. 

Salil Pitale, who served as the MD and Co-CEO for five years, has decided to move on. The Axis Capital Board placed on record their appreciation for his invaluable contribution and leadership during his tenure with Axis Capital. 

Mehra was the joint MD at JM Financial. He has experience of more than 32 years and has led some of ECM and M&A transactions in both domestic and international markets. In conjunction with Mehra’s appointment, Axis Capital has also welcomed Parag Gude, a Morgan Stanley veteran as the COO – Institutional Equities and Dhaval Desai as Head – Cash Equities. 

Welcoming Mehra to Axis family, Amitabh Chaudhry, Chairperson, Axis Capital, 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, 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 organisations.”