India’s third-largest private sector lender, Axis Bank, today announced a major reshuffle of its top management as it consolidates its banking as well as non-banking businesses into four units.
Executive Director S K Chakrabarti, who was previously in charge of mid-corporate and SME banking, will now look after all distribution-intensive businesses, such as retail banking, SME and agri banking. V Srinivasan, who recently joined the bank from J P Morgan, will be in charge of corporate banking.
Non-banking retail subsidiaries, like Axis Sales and Axis Asset Management, will be headed by Hemant Kaul, who was previously in charge of retail banking. All non-banking functions, such as vigilance, compliance, IT & operations and risk, will be part of the Corporate Centre headed by Deputy MD M M Agrawal.
