Mumbai: Neelkanth MishraThe co-head of Asia Pacific strategy at Credit Suisse Group AG has resigned from the company and is set to join Mumbai-based Axis Bank Ltd, according to people familiar with the matter.
Mishra, who has worked with the Swiss bank for over two decades, has agreed to handle Axis Bank’s research department because the information is private, the people said. According to the bank’s website, he is part of the Economic Advisory Council to Prime Minister Narendra Modi and is the head of research at Credit Suisse’s local unit.
The hiring is part of Axis Bank Chief Executive Officer Amitabh Choudhary’s plan to consolidate various businesses including wealth management and investment banking of the lender, whose share price hit a record high earlier this year. The financier had also completed the acquisition of Citigroup Inc’s Indian retail banking business for $1.4 billion earlier this month.
An Axis Bank spokesperson declined to comment, while Credit Suisse spokespersons did not respond to emails and phone calls on Mishra’s resignation. Mishra did not respond to emails and text messages seeking comment.
Switzerland’s second-largest lender has been rocked by a series of explosions, scandals, leadership changes and legal issues over the past several years, and several senior bankers have exited in recent months. Ashish GuptaThe former head of India equity research at Credit Suisse joined Axis Mutual Fund as chief investment officer, showed an exchange filing earlier this month.
Mishra, who has worked with the Swiss bank for over two decades, has agreed to handle Axis Bank’s research department because the information is private, the people said. According to the bank’s website, he is part of the Economic Advisory Council to Prime Minister Narendra Modi and is the head of research at Credit Suisse’s local unit.
The hiring is part of Axis Bank Chief Executive Officer Amitabh Choudhary’s plan to consolidate various businesses including wealth management and investment banking of the lender, whose share price hit a record high earlier this year. The financier had also completed the acquisition of Citigroup Inc’s Indian retail banking business for $1.4 billion earlier this month.
An Axis Bank spokesperson declined to comment, while Credit Suisse spokespersons did not respond to emails and phone calls on Mishra’s resignation. Mishra did not respond to emails and text messages seeking comment.
Switzerland’s second-largest lender has been rocked by a series of explosions, scandals, leadership changes and legal issues over the past several years, and several senior bankers have exited in recent months. Ashish GuptaThe former head of India equity research at Credit Suisse joined Axis Mutual Fund as chief investment officer, showed an exchange filing earlier this month.
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