Akshay Naheta, senior executive at SoftBank, in talks to leave
Akshay Naheta, a senior executive at SoftBank Group Corp. who has worked on some of the company’s biggest contracts, is in talks to leave the company, according to people familiar with the talks.
Naheta, who heads SoftBank’s public equity investments, plans to take an advisory role within the company to focus on her own long-term fund, added the people, who asked not to be identified as the conversations are in class.
The potential departure marks yet another senior exit from SoftBank’s ranks. Seven Managing Partners have left since March of last year, including the sole Senior Managing Partner, Deep Nishar, who will be leaving by the end of this year.
A spokesperson for SoftBank declined to comment. The terms of Naheta’s departure are not final and he may ultimately decide to stay, the people said.
Naheta has been involved in some of SoftBank’s biggest deals since joining the company in 2017. Some, like a billion dollar debt deal with Wirecard AG, have been controversial. He also introduced founder Masayoshi Son on the sale of chip designer Arm Ltd. to semiconductor designer Nvidia Corp. and led a $ 4 billion investment in Nvidia in 2017, a bet that brought in $ 3 billion in profits.
The senior vice president led SoftBank’s $ 5 billion stake in Roche Holding AG and its investment in robotics company AutoStore.
Naheta also helped Son found SB Northstar, which invested in public stocks and derivatives. Son said in November that he personally lost around 150 billion yen ($ 1.3 billion) to SB Northstar. The business is shutting down.
Former Deutsche Bank AG trader, Naheta previously launched his own hedge fund, Knight Assets & Co. Along with his new fund, he plans to take a minority stake in a European challenger bank, the sources added.