Top-level rejig in Stanchart

Standard Chartered Bank has gone in for a senior-level reshuffle under which Arup Roy, its head of corporate banking in India, has been moved as head of the bank’s Strategic Client Coverage Group (SCCG). Roy will be based in Singapore and is in the process of taking over his new responsibilities.

Roy will be replaced by Venkat Anantharaman, Stanchart’s head of corporate finance (M&A advisory and structured finance). An ace investment banker, Anantharaman, known for structuring many deals for Tata group companies, had left Stanchart in 2006 for Credit Suisse as its managing director in charge of the investment banking business. He returned to Stanchart in 2008.

A Stanchart spokesperson said SCCG was a specialised business and one of the top revenue earners for the group globally. Roy will look after the bank’s multinational clients in multiple markets. He will mainly look after clients with operations in India and Africa, two of Stanchart’s strongest markets. SCCG focuses on CEO/chief financial officer-level relationships. Roy will also be responsible for managing relationships with some of the bank’s top global Indian clients in Asia and Europe such as ArcelorMittal Chief Lakshmi Mittal.

Asked if the shuffle had anything to do with the controversy over the end-use of loans given to GTL for its tower acquisition, the spokesperson dismissed such speculation and said, “The rumours are completely baseless and untrue and Roy moves to a far bigger role in the bank.” A GTL spokesperson said the company had no knowledge of this.

In another senior-level movement, Peter Warbanoss, country chief risk officer, is relocating to Hong Kong from India. He will be replaced by Pradeep Rana, who is chief credit officer of traded products and financial institutions based in Singapore. Meanwhile, Prahlad Shantigram, Stanchart’s global head of mergers & acquisitions, is relocating to Singapore. Shantigram, who was based in India, would drive the mergers advisory business from Singapore.

A couple of senior officials put in their papers a few days ago. They include Anindo Mukherjee, head of risk-consumer business, and Ravi Rao, head of collection – debt. The Stanchart spokesperson said both left because of better career prospects.