Oct 09, 2024 02:40 PM IST
Zarin Daruwala, Standard Chartered’s CEO for India and Southeast Asia, will retire on April 1 after over eight years.
Standard Chartered Plc’s chief executive officer for India and Southeast Asia, Zarin Daruwala, will retire April 1 after serving more than eight years in the role.
Daruwala, who is one of the two female heads of large foreign banks in the country, joined the lender in 2016 as CEO for India. The bank said it would provide an update on her successor in due course. Bloomberg News first reported on Daruwala’s planned departure earlier Wednesday.
The UK lender, which is undergoing a broader management reshuffle and restructuring of some of its divisions, has lost several key personnel in India, where it is intensifying efforts to capture a larger share of the country’s growing wealth.
The bank is revamping its corporate and investment banking arm, removing layers of regional management to speed up decision-making and increase accountability for business performance, according to a Bloomberg report. In April, the bank appointed Singapore-based Sunil Kaushal as co-head of corporate and investment banking, with responsibility for ASEAN and Asia markets.