RETAIL BANKING | Tony Chua, Singapore

StanChart appoints Neeraj Swaroop as Southeast Asia head

Current India and South Asia chief may relocate in next three months to Singapore, replacing Ray Ferguson.

Neeraj Swaroop, regional chief executive officer, India and South Asia of Standard Chartered Bank, will soon take over as regional chief executive, Southeast Asia, and relocate to Singapore, according to two bank officials.

A Reserve Bank of India (RBI) official, too, confirmed that Jaspal Singh Bindra, group executive director and chief executive officer of Asia, at a recent meeting with the central bank indicated that Swaroop will take over a new assignment outside India.

None of them was willing to be named as the development has not yet been made public.

Swaroop declined to comment on the matter.

He will take over from Ray Ferguson who is currently chief executive for Southeast Asia, that covers 10 markets.

Swaroop may take up the assignment in next three months and the new India head will probably be appointed from among the existing senior executives of the bank working in India, according to one of the executives. “The process has not yet started. Swaroop’s elevation has come to us as a surprise,” he pointed out.

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