In a top management shuffle, foreign lender Standard Chartered Bank announced that its India head Sunil Kaushal will now lead the Africa and Middle East region.
Kaushal is currently Regional CEO South Asia and India CEO.
Ajay Kanwal, the regional head of consumer banking, will head ASEAN & South Asia region, including India.
The global bank has called this “a simplification of its organisational structure that will improve accountability, speed up decision making, reduce bureaucracy and play a key part in delivering the previously announced $1.8 billion of cost savings by 2017-end.”
The group has also announced a new global management team led by Bill Winters, Group Chief Executive.
New CEO for India soon Both Kaushal and Kanwal, members of the Group’s Management Team, will assume their new roles from October 1 and will report to Winters. Kanwal will be based in Singapore but will appoint a new CEO for India soon.
The group's new geographical structure will rationalise the eight existing regions into four new regional businesses, including the two led by Kaushal and Kanwal.
Greater China and North Asia will be led by Ben Hung, and Europe and Americas will be led by Tracy Clarke.