RETAIL BANKING | Tony Chua, India

StanChart India top executives undergo reshuffle

Movement of ex-managing director Prakash Subramanian K V and Sandeep Behl to South east Asia is part of first phase of reshuffle wave.

A fresh round of senior-management reshuffle is underway at Standard Chartered Bank, India’s largest multinational bank, a source said.

Charles Corbett will shortly take over as managing director & regional head, capital markets, South Asia, replacing Prakash Subramanian K V, who will move to Indonesia as head of global markets and co-head of wholesale banking in South East Asia.

Corbett was recently promoted as managing director with additional responsibility for leveraged finance syndicate. He will continue to be based in London and will be responsible for loan syndications for South Asia.

In another senior level move, Sandeep Behl will operate out of India as head of sales for South East Asia.

The bank is focused on India and China — it even listed its Indian depository receipts, or IDRs, in the local stock exchanges — but is also eyeing emerging markets such as Indonesia for expansion. Indonesia, which prides itself on being budget surplus and on its growing foreign exchange reserves, recently saw its sovereign rating upgraded.

The source said the senior-management rejig is part of a major exercise being doled out in phases.

View the full story in DNA India.

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