Atul Mehra set to take charge as MD of Axis Capital

Mumbai: Investment banker Atul Mehra has resigned from his position as joint managing director at JM Financial Services after a 33-year tenure in the group, the company said in a filing with the stock exchanges on Saturday.

He is set to join Axis Capital as managing director and chief executive, a position that has been vacant since December 2018, when Dharmesh Mehta resigned to establish his investment bank, said people with knowledge of the matter.

At Axis Capital, Mehra will be responsible for overseeing equity capital markets, business operations, mergers and acquisitions, securities markets, research, institutional equities, loan syndication and other related business activities, said the people.

They said the role of interim managing director Salil Pitale, who has been in the position since Mehta’s resignation in 2018, after Mehra takes charge, is not yet clear.

ET’s queries emailed to Axis Capital did not elicit a response till press time. Mehra declined to comment on the matter.