Standard Chartered appoints CEO, Middle East, Africa, the Americas and Europe
London, 22 March 2010
Standard Chartered has appointed V. Shankar (Shankar) as CEO, Middle East, Africa, the Americas and Europe with effect from 1 May 2010. He will be based in Dubai and becomes the Bank's most senior executive located in the Middle East.
Reporting to Peter Sands, Group Chief Executive of Standard Chartered, Shankar will be responsible for shaping the bank's strategy across the region, reflecting the continuing growth opportunities for Standard Chartered across Africa, the Middle East, the Americas and Europe. He will also be responsible for governance across these markets.
In his role Shankar will replace Gareth Bullock, who will retire from the Board of Standard Chartered PLC on 30 April. Shankar will also become a Director of Standard Chartered Bank with effect from 1 May 2010, whilst continuing in his existing roles as Executive Chairman of Principal Finance and Co-Chairman of the Private Bank.
Commenting on the appointment, Peter Sands, Group Chief Executive of Standard Chartered said: "Shankar is one of our most experienced, international and client-focused bankers. He is a great asset to our management team and I am delighted that he is taking on this important role. Good governance is critical for a well-run bank and Shankar's intimate knowledge of the Bank will be invaluable."
"He will be our most senior executive ever to be based in the Middle East, which is a strong statement of our commitment to the region, and ensures that our senior leaders are positioned across our key markets."
Shankar, a Singaporean, was appointed to the Group Management Committee in September 2007. Prior to his current position as Group Head of Origination and Client Coverage he served as Group Head of Corporate Finance, where he spearheaded the Bank's build-out of successful M&A and Advisory, Structured Finance and Private Equity businesses across our core markets.
In addition to his responsibilities at Standard Chartered, Shankar is a member of the Board of the Inland Revenue Authority of Singapore and Board of Trustees of Singapore Indian Development Association (SINDA). He is also a member of the Singapore Government's Economic Strategies Committee, National Integration Council and Committee to develop the accountancy sector.
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Biography - V.Shankar
Before joining Standard Chartered Bank in September 2001, Shankar was with Bank of America in Asia and USA for 19 years and his last position was as Managing Director - Head of Asia-Pacific Investment Banking and Chief Executive Officer of BA Asia Limited based in Hong Kong.
Shankar completed his Masters in Business Administration at the Indian Institute of Management, Bangalore and a Bachelors degree majoring in Physics at the Loyola College, Madras. He was on the local advisory board of the Asia Society's Southern California Chapter; and a member of the task force constituted in 1995 by the Treasurer of the State of California to solidify the State's position as a financial center for the Pacific Rim.
In addition to his responsibilities at Standard Chartered, Shankar serves as a member of the Board of the Inland Revenue Authority of Singapore. He is also a member of the Board of Trustees of SINDA, the National Integration Council, and the Economic Strategies Committee constituted by the Government of Singapore.
Shankar is married with one son and his interests include golf, cricket, tennis and modern art.
Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 20 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. We have produced seven years of record income and profit, primarily as a result of organic growth.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Group earns around 90 per cent of its income and profits in Asia, Africa and the Middle East, from its Wholesale and Consumer Banking businesses. The Group has 1700 branches and outlets located in 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs around 75,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which about 70 are represented in the senior management.
For more information on Standard Chartered, please visit www.sc.com.