Nilesh Shah to head Axis Bank investment banking ops

ICICI Prudential Asset Management's Deputy Managing Director Nilesh Shah is joining Axis Bank and will be overseeing the lender's initiatives in the investment banking space.

Shah, who is well-known in the mutual fund industry, will be joining as President, Strategic Initiatives, Corporate Banking at Axis Bank, an official release issued here said.

Shah, who rose to the top echelons of India's third biggest fund house from a humble background, had quit ICICI Pru in December last year and his next move since then has been keenly awaited.

Initially, it was speculated that Shah will be starting his own venture.

He is a qualified Chartered Accountant who has more than 20 years of experience in capital markets and market related investments, the Axis Bank release said, adding Shah has managed money across equity, fixed income securities and real estate for local and global investors.