Former SBI Capital Markets chief Arun Mehta named Edelweiss ARC CEO

Former SBI Capital Markets CEO, Arun Mehta, has taken over as the CEO of Edelweiss Asset Reconstruction Co for a three-year term, a person familiar with the appointment told ET. The banking regulator has approved his appointment.

Edelweiss ARC did not have a full time CEO for about two years.

“Mehta took over as CEO of Edelweiss ARC earlier this month and has received RBI approval. He was selected as CEO after a process run by executive search firm Korn Ferry,” a person familiar with the details said.


Edelweiss did not reply to an email seeking comment.

Edelweiss ARC has been looking for a CEO since Reserve Bank of India (RBI) declined to reappoint RK Bansal as MD and CEO of the company in 2024. Bansal had served two terms of three years each as Edelweiss ARC's CEO and the company had approached the RBI for his extension, which was declined. The regulator had not given any reason for declining Bansal another term.

Mehta, a State Bank of India veteran, held various positions at India’s largest bank in diverse areas including corporate banking, international banking and capital markets. He was CEO of the investment banking arm of SBI between 2020 and 2022.