Axis Bank Sees Another Top-Deck Churn

Cards, retail lending head Arjun Chowdhury quits; Gambhir elevated as executive director

- SUBRATA PANDA

Axis Bank, India's third-largest private-sector lender, on Friday informed exchanges that Arjun Chowdhury, group executive overseeing affluent banking, cards, payments, and retail lending, has resigned to pursue an entrepreneurial opportunity.

The bank said it has elevated Neeraj Gambhir, currently group executive in charge of treasury, markets, and wholesale banking products, to the position of whole-time director, designated as 'executive director,' effective from August 4. In his resignation letter, Chowdhury said, ".I have decided to pursue an entrepreneurial path outside Axis."

Axis Bank's senior leadership has seen churn lately. In June last year, Sumit Bali, group executive overseeing retail lending quit and joined Yes Bank. Gambhir's appointment comes just ahead of the impending retirement of the bank's Deputy Managing Director Rajiv Anand this August.