Mumbai, Feb 27 (IANS): Axis Bank on Thursday announced the appointment of Puneet Sharma as its Chief Financial Officer (CFO) with effect from March 6.

Sharma will replace Jairam Sridharan, who has resigned as the Group Executive and Chief Financial Officer of the bank, with effect from the close of business hours on March 5, 2020.

"Puneet Sharma, President and Chief Financial Officer of the bank shall report directly to the Managing Director and CEO of the bank," Axis Bank said in a regulatory filing.

He has over 23 years of experience across banks, financial Institutions and Consulting. Prior to joining Axis Bank, he spent 12 years at Tata Capital as a senior management functionary and was the Group Chief Financial Officer since 2014 accountable for financial control, financial planning and accounting and taxation amongst other deliverables.

An alumnus of Indian School of Business, Hyderabad, Sharma has also worked with Citibank in roles covering structured cash solution, treasury operations and risk monitoring among others.

Shares of Axis Bank pared initial losses to trade in the green on the BSE on Thursday. At 2.84 p.m., its shares were trading at Rs 732.50, higher by Rs 2.75 or 0.38 per cent from its previous close.