AXIS Bank approves re-appointment of Rajiv Anand as Deputy MD

Pursuant to the recommendation made by the Nomination and Remuneration Committee of the Board of Directors of AXIS Bank (the 'Board'), the Board at its meeting held on January 10, 2022 has considered and approved the re-appointment of Rajiv Anand as the Deputy Managing Director of the Bank including the terms and conditions and his remuneration, for a further period of three (3) years, with effect from August 4, 2022 up to August 3, 2025 (both days inclusive). His re-appointment as Deputy Managing Director for the aforesaid period is subject to the approval of the Reserve Bank of India (the 'RBI') and the Members of the Bank.

Rajiv Anand, aged 56 years, joined the Bank on May 1, 2013 from its asset management arm, Axis Asset Management Co. Ltd., where he was the Managing Director & CEO.

He was appointed as the President (Retail Banking) and was thereafter elevated as the Group Executive (Retail Banking) in 2014. He was appointed as a Director on the Board of the Bank effective May 12, 2016 and thereafter as the Executive Director (Retail Banking) of the Bank, effective August 4, 2016. Subsequently, he took over as the Executive Director (Wholesale Banking) of the Bank, with effect from December 21, 2018. He has now been re-designated as the Deputy Managing Director of the Bank with effect from December 27, 2021.

Rajiv Anand is a Commerce graduate and a Chartered Accountant by qualification.

Over a career spanning more than 30 years, Rajiv Anand has focused on various facets of the financial services industry having held key management positions at leading global financial institutions. He is widely recognized for his experience in capital markets and successfully building new businesses to scale. He is the co-chair of the Banking Task Force at CII- western region, a member of National Committee on Banking at CII and holds several key positions in other committees and industry bodies.

Shares of Axis Bank Limited was last trading in BSE at Rs. 742.80 as compared to the previous close of Rs. 730.55. The total number of shares traded during the day was 238089 in over 9017 trades.

The stock hit an intraday high of Rs. 744.05 and intraday low of 733.65. The net turnover during the day was Rs. 176253379.00.

Source : Equity Bulls

Keywords

AxisBank INE238A01034 Reappointment DeputyMD RajivAnand