Big Moves: Axis Capital, Tata International, Avenue Supermarts, PIB

Axis Capital appoints Atul Mehra as MD and CEO

Axis Capital has appointed Atul Mehra as the managing director and chief executive officer (designate), subject to receipt of requisite approvals. Mehra will be overseeing both the investment banking and institutional equities businesses of Axis Capital.

Salil Pitale, who served as the managing director and co-chief executive officer for five years has decided to move on.

Mehra is a veteran deal maker and was the Jt. MD at JM Financial. He has experience of more than 32 years with relationships across leading Indian corporates. In conjunction with Mehra’s appointment, Axis Capital is also delighted to welcome Parag Gude, a Morgan Stanley veteran as the COO – institutional equities and Dhaval Desai as head – cash equities.

Welcoming Atul Mehra to the Axis family, Amitabh Chaudhry, chairperson, Axis Capital says, “Over the past decade, Axis Capital has led the ECM and Advisory league tables, increased market share in Equities and Derivatives and built a strong Research team. In line with Axis Bank’s stated objective of strengthening the investment banking and institutional equities businesses, I am delighted to welcome Atul to Axis Capital. I am confident that Atul will strengthen the business and further cement its leadership position. We would also like to thank Salil for his contribution and wish him the very best.”

On the appointment, Mehra mentions, “Indian Investment Banking landscape is at an inflection point with the India story finding resonance across the globe. Leading an investment bank like Axis Capital is a very exciting proposition. The foundation of Axis Capital is the robust network of premier institutional investors spanning India, the US, Europe, the Far East & the Middle East. These relationships have been nurtured through continuous engagement, leveraging comprehensive research capabilities and unique market insights provided by the extensive network of Axis Capital and Axis Bank with Indian organizations.”

Tata International appoints Rajeev Singhal as managing director

Tata International has appointed Rajeev Singhal as its managing director. He will take over the new role on April 1st, 2024, from Anand Sen, who superannuated on 31st March 2024. Before this, Singhal was executive director and chief operating officer (COO) at Tata International.

Noel N. Tata, chairman, Tata International says, “I am pleased to welcome Rajeev Singhal as the Managing Director. We are confident that under his leadership, Tata International will scale to greater heights into its next phase of growth.”

Singhal adds, “I am honoured to take on the role of Managing Director at Tata International. With the support of the dedicated Tata International team, I am confident that we will continue to drive value for our stakeholders."  

Singhal brings over 36 years of experience to his new position, having transitioned from Tata Steel. At Tata Steel he held various positions of increasing responsibility, culminating in his most recent role as vice president of marketing and sales for Flat Products.

Former SEBI chief Chandrashekhar Bhave to chair Avenue Supermarts, parent company of DMart

Former Securities & Exchange Board of India (SEBI) chairman Chandrashekhar Bhave has replaced Ramesh Damani as the chairman of Avenue Supermarts (DMart), an Indian retail corporation that operates a chain of supermarkets in India. 

Avenue Supermarts stated in a regulatory filing, “Ramesh Damani has completed his second consecutive term as an Independent Director of the Company and has accordingly ceased to be the Chairman and Independent Director of the Company from the close of business hours on 31st March, 2024."

Bhave has extensive experience in both state and central administrative services as well as securities regulation. He served as a senior executive director of SEBI during its formative years from 1992 to 1996, contributing significantly to the establishment of the regulatory infrastructure for capital markets.

Following this, he assumed the role of chairman and managing director of National Securities Depository (NSDL) from 1996 to 2008. Later, he served as the chairman of SEBI from 2008 to 2011.

He is also a member of the board of Mahindra and Mahindra Financial Services, Vistaar Financial Services, Tejas Networks, Niva Bupa Health Insurance Company and Saankhya Labs.

Sheyphali Sharan takes charge as principal director general of Press Information Bureau

Sheyphali B. Sharan has assumed charge as the principal director general, Press Information Bureau upon the superannuation of Manish Desai. Sharan is an officer of the 1990 batch of Indian Information Service.

During her career spanning over three decades, she has held cadre portfolios largely looking after media publicity work as Press Information Bureau officer for ministries such as Finance, Ministry of Health and Family Welfare, Ministry of Information and Broadcasting. She has also served as the Spokesperson for the Election Commission of India.

In addition, she has worked on Central Staffing Scheme Deputations as director in Ministry of Health (Department of Traditional Systems of Medicine/AYUSH (2002-2007)) and Ministry of Finance (Department of Economic Affairs 2013-2017) besides working on cadre post of OSD (Information Policy at Ministry of Information and Broadcasting, 2000-2002) as also as director administration and Finance at LSTV, Lok Sabha Secretariat in 2007-2008.