Money & Banking

Nilesh Shah to succeed Manish Chokhani as Axis Capital head

K Ram Kumar Beena Parmar Mumbai | Updated on October 19, 2013 Published on October 19, 2013

Nilesh Shah   -  THE HINDU

Nilesh Shah will take charge of Axis Capital as Managing Director & CEO from Manish Chokhani on November 15.

Currently, Shah is the Deputy CEO of Axis Capital, the wholly-owned subsidiary of Axis Bank. Chokhani will take up an advisory role with the bank and also pursue his personal interests.

In March 2011, Shah had joined Axis Bank as President, Strategic Initiatives, Corporate Banking.

Axis Capital, formed by the amalgamation of Axis and Enam Securities, completes a year of operations on October 20. In FY-13, Axis Capital did 65 transactions aggregating about Rs 73,000 crore.

“In the challenging environment, we were able to close more than one deal a week,” Shah said.

Apart from IPOs and rights issues, Axis Capital facilitated M&A (mergers and acquisition), corporate structuring, structured financing, treasury services and secondary market operations such as OFS (offer-for-sale), QIPs (qualified institutional placements). Currently, it has about 200 employees.

“M&A and advisory were two of the largest contributors towards our operations. Hopefully, in the next fiscal year we will see one or two large ticket deals,” Shah added.

Srinivasan Varadarajan, Executive Director, Corporate Banking, Axis Bank, said: “The investment banking has helped us leverage it to bring more value to the bank over the last one year.”

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Published on October 19, 2013
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