Atul Mehra to head Axis Capital as the new CEO

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 Jan 20.

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 took 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.

He formally tendered his resignation on January 19, according to JM Financial Services, and he is slated to conclude his tenure at the company by April 20. The stated reason for his resignation is the pursuit of alternative career opportunities.