Neelkanth Mishra – Axis BankAccording to press reports citing industry insiders, Neelkanth Mishra, co-head of Asia-Pacific strategy at Credit Suisse, has resigned from his post and is set to join Mumbai-based Axis Bank to lead its research business. A 20-year veteran of the Swiss bank, Mr Mishra led research at its India unit alongside his role as a member of Indian Prime Minister Narendra Modi’s Economic Advisory Council. Axis Bank declined to confirm the appointment. Mr Mishra's appointment coincides with Axis Bank's CEO Amitabh Chaudhry’s plans to expand its wealth management and investment banking business, and follows Axis Bank’s recent hiring of Mr Mishra’s former Credit Suisse colleague and head of its India equity research department, Ashish Gupta. Axis Bank also concluded its $1.4bn acquisition of Citi’s India retail banking business earlier this month. In a rescue deal brokered by the Swiss government, UBS Group – Switzerland’s largest bank, agreed on Sunday to acquire crisis-hit Credit Suisse for $3.2bn. The acquisition puts thousands of banking jobs at risk, including positions in Asia, as UBS plans to cut the combined company’s annual cost base by $8bn over the next four years.
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