Private sector banks are facing a serious talent churn at the highest levels, including a CEO who decides not to seek a reappointment. While most of the setbacks have been in banks’ finance departments (CFOs), the latest is three high-level people who are said to be leaving Axis Bank’s capital markets.
According to sources, Anil Agarwal, president and group head of institutional client coverage, Vikas Shinde, head of debt capital markets and Jimmy Tavadia, group head of trading at Axis Bank have resigned.
None of these executives could be reached, nor did the bank confirm the development with TNIE.
While Agarwal has been with Axis Bank for more than two decades overseeing strategic relationships with government entities, public sector enterprises and financial institutions, Shinde has also been with the lender for around two decades, primarily working in the debt capital markets team, and Tavadia joined the lender in 2019 and specialized in rates.
Axis Bank, the third largest private sector lender, has been the leading arranger of the country’s rupee debt markets for more than two decades and also ranks first in the rupee loan league table so far this year.
The resignations come days after Axis Bank lost its chief financial officer Puneet Sharma to HDFC Bank after being with the bank for over six years. Sharma will leave the bank by August 31 and join the largest private sector bank in October, when Srinivasan Vaidyanathan’s tenure ends.
HDFC Bank has also announced the appointment of Rajiv Kumar, who is a retired civil servant, as its part-time chairman, succeeding incumbent Keki Mistry, who took over the role for an interim period of three months following the sudden resignation of Atanu Chakrabroty in mid-March.
