Comments
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.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.