After a dedicated tenure of 33 years within the group, Atul Mehra, an investment banker, has resigned from the role of Joint Managing Director at JM Financial Services. This announcement was made through a filing with the stock exchanges on Saturday.
He is slated to assume the role of Managing Director and Chief Executive at Axis Capital, a position that has been unoccupied since December 2018, following Dharmesh Mehta’s resignation to establish his investment bank, according to individuals familiar with the situation.
In his capacity at Axis Capital, Mehra will be tasked with overseeing a range of responsibilities, including equity capital markets, business operations, mergers and acquisitions, securities markets, research, institutional equities, loan syndication, and other associated business activities, as per the sources.
In the 2023 league table for the Indian equity capital market, JM Financial Services ascended to the 6th position, a notable improvement from its 11th position in 2022. In contrast, Axis Capital dropped to the ninth position from eighth during the same period.
