Credit Suisse's Neelkanth Mishra Steps Down, To Head Research At Axis Bank

In another shock to Credit Suisse, Neelkanth Mishra, co-head of Asia-Pacific strategy has reportedly decided to step down from his role. However, the veteran also reportedly shared his future plans and mentioned that he is moving on to head research at Axis Bank. 

According to a Bloomberg report, Neelkanth Mishra is a Credit Suisse veteran of almost two decades and his stepping down from the role is still a private matter. The publication adds that the information has not been announced publicly either by Axis Bank or Credit Suisse as of now and updates are awaited.

As per the Swiss Bank's website, Neelkanth Mishra is not just a Credit Suisse veteran but also a part of Prime Minister Narendra Modi's Economic Advisory Council. He is also the head of research at Credit Suisse's local unit and seeminly similar to the role, he is now reportedly moving on to head Axis Bank's research department.

Since Axis Bank is ramping up its efforts to boost various businesses, the hiring of Neelkanth Mishra is a part the bank's CEO Amitabh Chaudhary's bigger plans, Bloomberg reported. At this point, the bank is also looking at expanding its wealth management and investment banking businesses. 

(With inputs from Bloomberg)