Axis Bank has appointed Puneet Sharma as its new chief financial officer (CFO), replacing Jairam Sridharan. Puneet Sharma's appointment will take effect from March 6 as the resignation of Sridharan as group executive and CFO will take effect from the close of business hours on March 5.
Sharma will report to the managing director and CEO Amitabh Chaudhry. His appointment comes as outgoing CFO had announced that he would be stepping down from his post in December 2019.
Sharma has over 23 years of experience across banks, financial institutions and consulting. Prior to joining Axis Bank, he spent 12 years at Tata Capital as a senior management functionary and was the group chief financial officer since 2014. An alumnus of Indian School of Business, Hyderabad, he has also worked with Citibank in roles covering areas spanning structured cash solutions, treasury operations, and risk monitoring.
Axis Bank has undergone some major restructuring over the past few months. As the new management drive pushes for new growth, Axis Bank is seeing numerous resignations in the last few months. About 15,000 employees have left the bank over the last few months which also includes mid and branch-level execs.
In the same direction, it has also seen many new key hires. Amitabh Chaudhry, Chief Executive Officer, Axis Bank, is revamping the way the bank works and has hired Deepak Maheshwari from HDFC Bank, Neeraj Gambhir from Nomura Securities, Pralay Mondal from Yes Bank, and Ganesan Sankaran from Federal Bank.