Axis Bank Deputy MD Rajiv Anand to retire in August 2025, will remain with Axis Max Life Insurance
Rajiv Anand, the Deputy Managing Director of
Axis Bank
, has decided to step down after completion of his current term in August 2025.
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He will retire from the services of the bank on August 3 after completion of his third term as a director on the bank's Board, the private lender said in an exchange filing Friday.
'Rajiv's association with the Axis group will continue after his retirement from the bank as non-executive Chairperson of
Axis Max Life Insurance
Limited,' the bank said.
In 2022, when Anand received a three-year extension, the Axis Bank board had approved the proposal in January, followed by the Reserve Bank of India's clearance in June that year.
Anand, who has held the position of Deputy MD since December 2021, oversees multiple key areas at Axis Bank, including wholesale and digital banking, as well as marketing and corporate communications.
He joined the Axis Group in 2009 as the founding MD of Axis Asset Management Company. Anand transitioned to Axis Bank in 2013 as the President of Retail Banking, a position he held for five years. In 2018, he took charge as the head of wholesale banking.
Axis Bank has witnessed several senior-level exits since last year. Ravi Narayanan, the group executive of Retail Liabilities, Branch Banking, and Products at Axis Bank, resigned in March 2024. In June 2024, Sumit Bali, Group Executive of Retail Lending, resigned to pursue new career opportunities after a four-year tenure.
Later that year, in October 2024, Ganesh Sankaran, Group Executive of Wholesale Banking Coverage, stepped down to explore opportunities outside the bank.
In February 2025, the bank announced that S. Bhaskar, Chief Audit Executive, had resigned due to personal reasons requiring him to be based outside India indefinitely.
In Friday's exchange notification, Axis Bank said that it has a strong leadership pipeline at the bank. It announced changes in the senior management team with group executive level appointments.
The bank appointed Sameer Shetty as group executive - DBAT (digital business and transformation) and strategic programs, Bipin Saraf as group executive - Bharat banking, and Rajkamal Vempati as group executive – human resources. All three appointments are in effect from April 1, 2025.
Anand, a chartered accountant with a degree in commerce, brings over 35 years of experience across various segments of the financial services industry, including asset management, retail, and wholesale banking.
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