Rajiv Anand likely to head Axis Bank's retail liabilities business

And will replace SK Mitra, who is due to retire in July

Axis Bank is likely to appoint Rajiv Anand as the head of its retail liabilities business, two people familiar with the development said. He will replace SK Mitra, who is due to retire in July.

While Mitra was president of Axis Bank's distribution channel, according to sources Anand will have a slightly bigger portfolio. "Rajeev will look after distribution as well as product innovation and development. He will be in charge of retail liabilities group," said a senior banker.

Anand is currently managing director and chief executive of Axis Asset Management. He was one of the key members of the team that was instrumental in inducting Schroders, a UK-based asset management company, as a 25 per cent partner in Axis Asset Management.

Anand joined Axis Asset Management in 2009. Prior to joining Axis Asset Management, he was head of investments in Standard Chartered Bank.