Axis Bank, which acquired Enam’s investment banking business last year, has roped in high-profile mutual fund executive Nilesh Shah to lead the private sector lender’s initiatives in the investment banking space.
The usually soft-spoken Shah, who quit as deputy managing director from ICICI Prudential MF in December last year, will join Axis Bank as the president – strategic initiatives in its corporate banking division. He will report to V Srinivasan, executive director, corporate banking, Axis Bank.
Shah, who had joined ICICI Prudential in 2004 as chief investment officer from Franklin Templeton, is known for his expertise in the fixed income space. He is a gold medalist chartered accountant and a merit-ranked cost accountant.
At ICICI Prudential, Shah played a key role across verticals of fund management, investor relationship and regulatory interactions.
ICICI Prudential MF’s assets under management had risen to over Rs 70,000 crore in September last year, from around Rs 15,000 crore, when Shah joined the fund house as a chief investment officer in June 2004.
In November 2010, along with investment banking business, Axis Bank had also bought Enam’s equity broking and insurance distribution businesses in an all-stock deal worth Rs 2,067 crore.