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Senior appointments to strengthen Standard Chartered Bank's Wholesale Banking business

  • Thursday, November 22, 2001 2:35PM IST (9:05AM GMT)
Mumbai, Maharashtra, India: Standard Chartered Group has announced the appointment of Rajan Ray as Head Corporate & Institutional Banking, India and M A Ravi Kumar as Head Global Markets, India. Both these positions will be key drivers for the growth of Standard Chartered's Wholesale Banking business in India. As the world's leading emerging markets Bank, the appointments will further strengthen Standard Chartered's footprint in India and complement the expertise of the local management team. While Rajan will be responsible for expanding the Corporate and Institutions business, Ravi will be responsible for growing the Global Markets (treasury) franchise. Both will work to leverage the synergies that exist for customers between the treasury and the corporate and institutions functions. Within their individual mandates, Rajan and Ravi will also look after the strategic direction of product and service offerings. Rajan brings with him a rich experience of 33 years in the financial sector with considerable exposure to Indian and international markets. His experience spans a host of areas such as Corporate Banking, Personal banking and Credit and General Management. Prior to joining Standard Chartered, Rajan was with ABN Amro N.V. where he held several important positions that included Country Manager Singapore and Sri Lanka. Previously Rajan worked with Grindlays Bank Ltd, India and EODC (ASIA) Ltd., Hong Kong. Ravi was previously with Citibank, Russia, where he was the Vice President and Country Treasurer. In this assignment, Ravi managed a balance sheet size of USD 1.2 billion and he was instrumental in setting up the Treasury Marketing Unit in Russia. Ravi grew the Russian Treasury to become the most profitable operations in Citibank's CEEMEA region in year 2000. Ravi has held various positions in Citibank that include Country Treasurer, Citibank, Romania and Deputy Treasurer in Citibank, India. Standard Chartered is the largest international banking Group in India having a combined customer base of 2.4 million in retail banking and over 1200 corporate customers. Key businesses include consumer banking - primarily credit cards, mortgages, personal loans and wealth management - and wholesale banking, where the Bank specializes in the provision of cash management, trade, finance, treasury and custody services.

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Neel Chatterjee, Regional Head, External Affairs, Neel.Chatterjee@in.standardchartered.com, 22 263 4574

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