Axis Bank to elevate Rajiv Anand as Deputy Managing Director

The country's third largest private sector lender Axis Bank on Wednesday announced that it will elevate Rajiv Anand as the Deputy Managing Director.

Anand, an Executive Director in charge of wholesale banking at present, has been with the Axis Group for 12 years.

The bank's board of directors has approved the appointment and the same will have to be ratified by the Reserve Bank and shareholders of the lender, according to a statement.

In his new role, Anand will continue to lead the wholesale banking side and also work closely with the board in strengthening control and governance aspects, it said.

"Rajiv has been instrumental in driving various key initiatives and has worked hand-in-hand with me to make the bank a more robust, growth focused organisation as we drive transformation under our GPS (Growth, Profitability, and Sustainability) strategy," the bank's Chief Executive and Managing Director Amitabh Chaudhry said.