Global financial services major Morgan Stanley has appointed former Axis Bank Chairman P. J. Nayak as its new country head and Chief Executive Officer for India.
The appointment is part of Morgan Stanley's continuous expansion in India and further investment in its operations here, the company said in a press release.
Mr. Nayak will join Morgan Stanley on April 5 and will be based in Mumbai, it said.
Mr. Nayak, who was instrumental in growing the business and presence of Axis Bank from less than 50 branches to over 800, served as the Chairman and CEO of the bank from January 2000 till April 2009.
At present, he is serving as an operating partner at Advent International Private Equity and non-executive Chairman of Motilal Oswal Asset Management Company. “We are delighted that Mr. Nayak will be joining Morgan Stanley to lead our operations in India... the firm will also benefit from his senior relationships in India and his government experience,” Morgan Stanley Asia CEO Owen Thomas said.
