Nilesh Shah will be taking over as CEO at Axis Capital in the next few weeks, said V Srinivasan, executive director and head, corporate banking, Axis Bank.
Shah will be replacing Manish Chokhani, who will now move to an advisory role with the company. Incidentally, the change in management comes at a time when Axis Capital has completed a year of operations. ?Manish (Chokhani) is going to be involved with us in terms of an adviser, not just with Axis Capital, but even with the bank. His relationship with the Axis group will continue. We all know the decision was coming. But now, it is happening,? Srinivasan told FE.
There are no other major changes in the management. However, Axis Capital would look at elevating one more person on the company’s board as a designate director.
When asked about future targets, Srinivasan said Axis Capital’s contribution would not be any material numbers in terms of overall banking revenue. ?It would be more in terms of the value that they would add, not only to the investment banking products, but also to the banking products. That is where we see value,? he said.