The Hindu Business Line : Balaji Swaminathan quits ICICI Bank

ICICI Bank's Corporate Banking chief, Mr Balaji Swaminathan, has quit to join StandardChartered Bank. In his new assignment too, he will be the Head of Corporate Banking but will be in charge of entire South Asia.

In ICICI Bank, he was closely associated with several mega corporate takeovers and debt restructuring.

For instance, he was involved with the UB group's takeover of Shaw Wallace and the restructuring of India Cements' debt.

He also served on the boards of ICICI One Source, ICICI Infotech, Arvind Mills, Jindal Vijayanagar Steel, Bharat Forge, and Haldia Chemicals Ltd.

Mr Swaminathan told Business Line that he was joining StandardChartered to gain "a broader perspective".

The 40-year-old chartered accountant from Chennai said that he had been part of ICICI Bank right at a time when the bank underwent transition from a development finance institution to a full-fledged commercial bank.

"It was a truly unique experience," said Mr Swaminathan, who worked with the ICICI Bank for four-and-a-half years.

The transition posed several challenges for a corporate banker, he added.

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