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Company release, November 8, 2004
New Delhi
Demonstrating the growing significance of Standard Chartered Bank India operations, Standard Chartered Group has moved its key Top Management representatives to Global positions. Vishu Ramachandran moves to Chief Financial Officer - Group Consumer Banking, Shyam Srinivasan moves on as Head, Consumer Banking, Malaysia and Murali M Natrajan appointed as Head, Consumer Banking, India & Nepal.
These positions will be the key drivers for the growth of Standard Chartered's Consumer Banking business in India and Asia. As the world's leading emerging markets Bank, the appointments will further strengthen Standard Chartered's position in India & Asia and complement the expertise of the local management team.
Commenting on the appointments Mike DeNoma, Group Executive Director and Head of Standard Chartered's Global Consumer Bank said, "I have worked closely with Vishu, Murali & Shyam over the past two years and am delighted that they have accepted the new challenges. I am confident that they will be able to take the business to its next level."
Chris Low, Chief Executive Officer, India Region said, "Vishu has helped us grow the Consumer Banking business in India tremendously and now Murali will bring best practices in brand building and customer service, which will further distance us from our competitors. He further added, "Murali's talent, expertise and background are tailor-made for the plans we have for giving a massive thrust to our retail position in India."
Vishu Ramachandran, in his new role assumes critical importance in terms of both strategy and pace of growth for the Consumer Banking business.
Vishu, prior to this assignment was Standard Chartered's Regional Head, Consumer Banking, India. Under his leadership, Consumer Banking India has successfully built new businesses like Mortgages, Business Financial Services and Bancassurance and has simultaneously doubled in geographic footprint. Consumer Banking India has more than doubled its trading profit between 2001 and 2004 and is currently the third largest consumer business in Standard Chartered.
Immediately prior to that he was the Bank's Global Product Head of Mortgages and Auto based in Singapore. He joined the Bank in India in 1986 as a management trainee and has held several portfolios in the Consumer Bank in India and Singapore.
Murali M Natrajan will succeed Vishu Ramachandran as Head - Consumer Banking, India & Nepal. He will oversee the strategic direction and growth of the five Consumer Banking Value Centres - Secured Loans, Unsecured Loans, Wealth Management, Branch Banking and Standard Chartered Finance. These will include product development, sales and marketing, service delivery, building a strong brand and team to acquire critical competencies necessary for the business.
Murali has been a Consumer Banking professional with over 20 years of rich experience in India, Singapore, Hong Kong, Korea and Indonesia. He started his career with American Express Travel Related Services in India. In 1989, he moved to Citibank where he worked across functions. He was also Director of Cards Business in Indonesia and Hong Kong.
Murali is a Fellow Member of the Institute of Chartered Accountants of India. He joined Standard Chartered Bank in October 2002 as General Manager for Mortgage & Auto Business for South East Asia. Under his leadership, Standard Chartered Bank has become a key player in the Mortgage and Auto business.
Shyam Srinivasan, currently General Manager, Unsecured Business India moves on as Head, Consumer Banking Malaysia. He will be responsible for migrating best practices and building a successful franchise in one of Standard Chartered's top / strategic markets and ensure leadership position.
Shyam joined Standard Chartered in early 2001 from Citibank in the Middle East to head the Credit Cards and Personal Loans business in India. Since mid 2002, he has led a major and successful transformation of the unsecured business in India. This has involved reshaping every aspect of the business including successful innovative launches including Diva, Mini card, Manhattan and many more.
About Standard Chartered
Standard Chartered is India###SQ###s largest international bank in terms of profits, assets and branch network and having a combined customer base of 2.4 million in retail banking and over 800 major corporate relationships. Key businesses include Consumer Banking primarily credit cards, mortgages, auto loans, personal loans and wealth management and Wholesale Banking comprising commercial banking and global markets, where the Bank specializes in the provision of cash management, trade, finance, treasury and custody services.
For further information please contact:
Neel Chatterjee, Regional Head, Corporate Affairs
Standard Chartered Bank
Phone: 022 263 4574
Mobile: 98203 45525
E-mail: Neel.Chatterjee@in.standardchartered.com |
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