HDFC Bank's Neeraj Swaroop joins Stanchart as CEO

Neeraj Swaroop, head consumer banking, HDFC Bank, is moving to Standard Chartered Bank as its chief executive officer. However, this development is subject to regulatory approval.

Swaroop, who joined HDFC Bank in 1999, was heading the consumer banking business for the last four years. He was also the country head of HDFC Bank's retail banking division. He was responsible for the bank's network of 475 branches in over 200 cities employing over 6,000 people.

Prior to joining HDFC Bank, Swaroop was with Bank of America for eight years in a variety of consumer related senior roles. He started his career with the Unilever group in India, spending nine years with increasing responsibilities in sales, product and brand management.

Kai Nargolwala, group executive director, Standard Chartered Bank, says, Swaroop is well-known for his instrumental role in building one of the most admired businesses in Asia.”

“We recognise India as a country with great potential for growth. We are already the largest international bank in the country, and under Neeraj’s leadership, we are confident that we will achieve our ambitious growth strategy for both our wholesale and consumer banking businesses in India,” Nargolwala added.

Meanwhile, Jaspal Bindra, regional general manager, South Asia region, has been included the Stanchart's management committee. Bindra will now concentrate on the growth and development of the bank’s businesses in other markets of the South Asian region. © 2005 agencyfaqs!