IDFC Asset Management's head of investments, Rajiv Anand, is likely to join private Indian lender Axis Bank's (AXBK.BO: Quote, Profile, Research) planned mutual fund unit as chief executive, two financial services industry sources said on Wednesday.
"He would be joining as CEO... by the end of January," one of the sources told Reuters.
A senior official at Axis Bank declined comment. Naval Bir Kumar, managing director of IDFC Asset Management, said Anand had not put in his papers.
Anand has more than 15 years of experience in fixed income markets.
Axis Bank is India's third-largest private-sector lender. It applied for a mutual fund licence in June and is awaiting regulatory approval
"He would be joining as CEO... by the end of January," one of the sources told Reuters.
A senior official at Axis Bank declined comment. Naval Bir Kumar, managing director of IDFC Asset Management, said Anand had not put in his papers.
Anand has more than 15 years of experience in fixed income markets.
Axis Bank is India's third-largest private-sector lender. It applied for a mutual fund licence in June and is awaiting regulatory approval
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