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2w ago

Axis Bank Formalizes Gambhir Appointment Pending Regulatory and Shareholder Sign-Off

The bank has set August 4 as Gambhir’s start date pending clearances ahead of Chaudhary’s August 31 exit.

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Overview

  • Axis Bank’s board approved Neeraj Gambhir as a whole-time director on July 18 and filed the resolution with stock exchanges.
  • His three-year term is slated to begin on August 4 or upon Reserve Bank of India approval, whichever occurs later.
  • The appointment remains contingent on endorsements from the Reserve Bank of India and Axis Bank’s shareholders.
  • Outgoing Group Executive Arjun Chaudhary, who led affluent banking and retail lending, will vacate his duties on August 31.
  • Gambhir brings more than 30 years of experience and has headed Axis Bank’s treasury, markets and wholesale banking since May 2020 after leadership roles at Nomura India and Lehman Brothers India.