Mumbai, Sept 2: Standard Chartered Group on Saturday announced the appointment of Jaspal Bindra as its regional manager (India), and chief executive officer of Standard Chartered Grindlays Bank. The group also said that Harpal Duggal will be general manager and chief executive officer of Standard Chartered Bank (India).The appointments follow the acquisition of ANZ Grindlays Bank's operations in India by Standard Chartered Bank on July 31, 2000. "The change in name is to be effected shortly. Both banks will operate as separate entities for some time... other senior appointments will be announced shortly", a Standard Chartered Bank press release said here on Saturday.
Mr Bindra, 40, is currently Standard Chartered Bank's (India) head of corporate banking. He joined Standard Chartered Bank in August 1998 from Union Bank of Switzerland (UBS), before which he was in Bank of America (BankAm).
Mr Bindra joined UBS in 1994 as head of its business development and was responsible for structured finance, capital markets debt and equity, project finance, M&A and correspondent banking. Earlier, with BankAm, Mr Bindra worked in corporate banking, consumer banking and financial institutions.
Said Mr Bindra: "Both Standard Chartered and Grindlays have a long association with the country and a strong commitment to be part of one of the fastest growing economies in the world. Building the two banking businesses is an exciting challenge and our combined strengths in treasury, corporate and institutional banking and consumer banking will create a client-focussed powerhouse".
Mr Duggal heads Standard Chartered Bank's (India) consumer banking division since April 1999, where he oversaw the bank's credit card operations and personal banking division. Prior to this, Mr Duggal was with Citibank NA.
Said Mr Duggal: "The combined customer base of 2.1 million retail customers - 1.1 million card-members and 1 million branch banking customers - offers us tremendous opportunities to enhance our value offerings, either by ourselves or in association with strategic alliance partners in various industry segments, the benefit of the greatest choice of retail banking products and convenience of distribution opportunities, serviced out of our physical distribution, and emerging Internet and web-enabled channels. We aim to strengthen and significantly enhance our leadership in consumer banking in India".
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.