?A people?s man?, this is how Pratip Chaudhuri, the top contender for the State Bank of India? (SBI) chairmanship, is described by his colleagues. The deputy managing director of SBI?s international banking group, which he has headed since April 2009, Chaudhuri joined SBI in 1974 as a probationary officer, graduating in chemistry from St Stephens College.
?He spends a lot a time interacting with people and has a story for every occasion,? said a colleague. The 56 year old Chaudhuri, also liked for his sense of humour, is credited with successfully working on the amalgamation of the State Bank of Saurashtra with SBI. Despite his busy schedule Chaudhuri, his colleagues say, finds time to read and stays abreast of current affairs.
During the course of 36 years with the bank, Chaudhuri has been chief general manager of the Chennai Circle and has headed the bank?s Canada subsidiary. He has also overseen corporate banking and is well-suited for the top job at the country?s biggest bank.
SBI?s international balance sheet has grown from $7 billion in 2005 to $35 billion in 2010. Currently, SBI’s international business contributes 16% to the bank’s total business compared with 12% a year ago. With new expansion plans, Chaudhuri wants to increase the share to 25%. He leads a team of around 2500 people in the country and globally.
If his appointment be cleared, Chaudhuri would take over the current SBI chairman OP Bhatt, whose five- year term comes to an end in March 2011. Under his leadership SBI successfully tapped the overseas bond market to fund its global operations. In November, the bank raised euro 750 million (about Rs 4,650 crore) through a five-year bond issue in a day, making it the country?s first such kind in the past three years and the first-ever Asian issue for 2010. Prior to that in July 2010, the bank had raised $1 billion through a five-year global bond. Chaudhuri also built a strong syndication team and increased the banks participation in this business.
Since SBI aspires to be a global retail bank by 2013, Chaudhuri is exploring both organic and inorganic options to scale up operations. In 2006, SBI had acquired the Indonesian bank, PT Bank IndoMonex, and it is now eyeing another bank in the country. The bank had roped in consulting firm McKinsey & Company to help it restructure the international banking group (IBG). To ensure that the bank is competitive, Chaudhuri revamped the IBG team into four verticals namely financial institutional group, treasury functions which include forex, wholesale banking which deals in syndication and corporate advisory, retail and compliance. It is also in the process of setting up intermediary structures or regional hubs each of which would be responsible for the operations of a particular geography.