India's Axis Bank investment banking unit co-CEO Negandhi resigns - sources

NEW DELHI (Reuters) - Indian lender Axis Bank's investment banking unit Axis Capital's co-Chief Executive Officer Chirag Negandhi has resigned, two sources with direct knowledge of the matter told Reuters, adding that the firm is likely to tap outside candidate for the role. Negandhi's departure was communicated internally on Friday, the first source said. He spent more than 13 years at the Axis' investment banking unit and would continue for three more months, the source added. Axis Capital, one of the country's biggest investment banking firms, has been a part of some successful initial public offerings over the past year, including Cyient DLM, Mankind Pharma and Bikaji Foods.

Axis Capital did not immediately respond to a Reuters request for comment. Negandhi declined to comment.

(Reporting by Sriram Mani and Aditya Kalra; Editing by Shweta Agarwal)

By M. Sriram and Aditya Kalra