Atul Mehra, JM Financial's Joint MD, Resigns, Poised to Join Axis Capital as MD and CEO

20 Jan 2024 , 01:19 PM

Veteran investment banker and JM Financial’s Joint MD, Atul Mehra, resigns and emerges as the lead candidate to join Axis Capital as its MD and CEO, marking a significant transition in Indian deal-making.

The move follows an extensive search process where Mehra stood out among multiple candidates from both domestic and foreign financial outfits.

Mehra’s departure is considered a crucial exit for JM Financial, where he has served for an extensive 32 years and 8 months since starting his career as an analyst in 1991.

Email queries to JM Financial, Axis Capital, and Axis Bank, the parent of Axis Capital, remain unanswered, and Mehra was unavailable for comment at the time of reporting.

Mehra, a Harvard Business School alumnus, has been deeply involved in various aspects of JM Financial’s investment banking business, building strong relationships with leading Indian corporates and leading significant transactions.

JM Financial recently appointed Chirag Negandhi from Axis Capital as MD, overseeing various businesses, including institutional equities, equity capital markets, private wealth, alternate investments, portfolio management services, and real estate advisory.

Salil Pitale currently serves as the interim MD and CEO of JM Financial, with Adi Patel and Sonia Dasgupta holding key positions in the investment banking team.

In a leadership rejig in September 2021, Vishal Kampani stepped down as MD, taking on the role of non-executive vice-chairman, while Mehra and Patel were appointed as joint managing directors.

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