Axis Bank elevates Talgeri to chief risk officer, ropes in AIA exec
India's third-largest private sector lender, Axis Bank, has strengthened its senior management through appointments of key personnel in two strategic roles, according to a statement issued by the bank.
Axis Bank has roped in Naveen Tahilyani from AIA as group executive - the head of banking operations and transformation, to lead operations, technology, strategy, and analytics. Additionally, Amit Talgeri has been elevated to the post of chief risk officer for a period of three years, replacing Cyril Anand, who is soon to retire.
Both Tahilyani and Talgeri shall report to Amitabh Chaudhry, the managing director (MD) and chief executive officer (CEO) of the bank.
Tahilyani brings 22 years of experience in financial services in both operating and consulting roles with him. He was the CEO of group partnership distribution at AIA since August 2018 and CEO and MD of Tata AIA Life Insurance in India from January 2015 to July 2018. Prior to Tata AIA, he was a senior partner with McKinsey & Company, where he led the India and Southeast Asian financial institutions group practice. During his stint of more than seventeen years with McKinsey, he worked with and advised some of the largest public, private, and foreign banks in India and Southeast Asia.
Talgeri has over 24 years of experience in banking and finance industry and has handled diverse roles in various verticals, such as retail, credit, operations, collections, and business with various banks/NBFCs, in India and abroad. He joined Axis Bank as the head of credit risk (retail & commercial banking). In his current role, he is responsible for credit policy, risk scorecard performance, portfolio monitoring, and taking risk action for retail and commercial banking functions.
Chaudhry, a former MD and CEO at HDFC Life, took over from Shikha Sharma, who stepped down last year after nearly a decade at the helm of Axis Bank. Since taking over, Chaudhry has been battling the stressed assets portfolio with exposures to some large groups, such as Anil Ambani-owned Reliance Capital Ltd and Subhash Chandra's Essel Group, which are struggling to repay their debts. Chaudhry reportedly asked over 50 mid-level managers to leave, as the bank restructures its business and cuts costs. Early this month, its chief financial officer (CFO), Jairam Sridharan, resigned after close to a decade with the bank.
Two months back, the bank raised Rs 12,500 crore (US$1.76 billion) by selling shares to institutional investors including Singapore sovereign wealth fund GIC Pte Ltd. The bank had 4,284 domestic branches and 12,191 ATMs across the country as on September 30, 2019.
Its group business includes Axis Mutual Fund, Axis Securities Ltd, Axis Finance, Axis Trustee, Axis Capital, A. TReDS Ltd, Freecharge, and Axis Bank Foundation.