Standard Chartered today announces the resignation of Ajay Kanwal. He will step down from his role as Regional CEO, ASEAN and South Asia (ASA) with immediate effect. Anna Marrs will assume the role of Regional CEO, ASA, in addition to her existing role as CEO, Commercial and Private Banking subject to regulatory approval.
Ajay said: “The Bank rightly sets very high internal standards on disclosures for all staff. After careful deliberation I felt that some of my internal disclosures about my historical personal investments in businesses outside the Bank did not meet these very high standards. Though I do not own these investments anymore, as a senior leader my actions should be beyond reproach. Hence with regret I have decided to tender my resignation. I wish Bill and all my colleagues a very successful future.”
Bill Winters commented: “Ajay’s historical personal investments in businesses outside the Bank had no impact on our clients or the economic interest of the Bank. He has elected to put the Bank’s interests above his own and I respect his decision to step down. Ajay has had a 24-year long distinguished career with the Bank and has done an outstanding job as the Regional Head. Along with my colleagues on the Management Team and his many friends across the Bank, I wish him well for the future.”
Ajay will assist Anna in transitioning to the new role as required.
Anna joined the Bank in 2012 and has held a number of roles within Standard Chartered including Group Head of Strategy and Corporate Development, and is currently the CEO of Standard Chartered’s Commercial and Private Banking businesses. Anna will continue to be based in Singapore.
For further information please contact:
Jon Tracey +44 2078857613
Siow Joo Lim +65 65967759