Pratik Loonker joins Axis Capital as Head of ECM and Co-Head Financial Sponsors; two more MDs also onboard

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Pratik Loonker, the former head of equity capital markets at ICICI Securities has joined rival investment bank Axis Capital in a twin role as the latter's new head of equity capital markets and co-head of financial sponsors, sources in the know told Moneycontrol on the condition of anonymity.

In further additions to Axis Capital, Ujjwal Singh joined the firm from Avendus Capital as MD and Head ( Pharma and Healthcare) on June 20 according to a Linkedin update. Anuj Mittal also came on board recently from JM Financial as an MD and will lead the investment banking coverage for chemicals, logistics and part industrials sectors.

Loonker, Mittal and Singh are the latest hires by veteran dealmaker Atul Mehra who is looking to strengthen the deal team since he took charge as the MD & CEO of Axis Capital on April 1.

Moneycontrol was the first to report Mehra's proposed move from JM Financial to Axis Capital on January 20.

Loonker, Mehra and Axis Capital were unavailable for an immediate comment.

Currently, Deepak Sharma heads the M&A and Financial Sponsors Group at Axis Capital, according to the firm's website.

In April, along with Mehra, Axis Capital also onboarded Parag Gude, a Morgan Stanley veteran as the COO – Institutional Equities and Dhaval Desai as Head – Cash Equities.

In December, JM Financial appointed Chirag Negandhi ( earlier Joint MD and Co-CEO at Axis Capital) as MD. Later in April, Salil Pitale, the MD and Co-CEO at Axis Capital decided to move on.