Mumbai: With all regulatory clearances in place, private sector lender Axis Bank on Sunday said Axis Capital would commence operations from Monday.
"Axis Bank has launched Axis Capital upon completion of the required legal processes for the transfer of the financial services business of Enam Securities to a wholly-owned subsidiary of the bank," a statement issued here said.
Axis Capital combines Axis Bank's financial strength and Enam's expertise to create a vibrant financial services powerhouse by bringing together the bank's commercial banking and debt capital markets franchise and the latter's investment banking and equities franchise, it said.
Axis Capital will be headed by Manish Chokhani as its Managing Director and Chief Executive Officer.
"We now have compelling capabilities to service our corporate clients spanning credit, equity and advisory, creating an unbeatable value offering," Chokhani said.
For the investors, Axis Capital offers access to and insights about corporates and a continuation of its established institutional and retail investor franchise, he said.
The investment and financial advisory business of Enam which provides solutions to institutional and corporate clients will also be a part of Axis Capital and will work in close conjunction with the bank's private banking division.
First Published: Sunday, October 21, 2012, 17:53