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Axis Capital CEO Dharmesh Mehta steps down; firm names replacements

The Board of Axis Capital in a meeting held on Tuesday accepted Mehta's resignation

Press Trust of India  |  New Delhi 

Dharmesh Mehta

Leading Investment Bank Tuesday said its MD & CEO has stepped down.

The bank also said it has elevated and as Joint Managing Directors and Co-Chief Executive Officer.

Pitale and Negandhi's appointment will be with immediate effect, the company said in a statement.

"Dharmesh Mehta, MD & CEO of today submitted his resignation, having decided to pursue other interests," the company said.

The Board of in a meeting held on Tuesday accepted Mehta's resignation.

It further said: "The Board has decided to elevate and as Joint Managing Directors & Co-Chief Executive Officer".

However, their elevation will be subject to requisite regulatory approvals, it added.

Both are currently Co-Head of Investment Banking at Axis Capital since 2016.

Pitale has been with Axis Capital and Axis Bank since 1999, and has led several sector practices for the investment bank. While, Negandhi is with Axis Capital since 2005.

First Published: Tue, December 04 2018. 22:34 IST