StanChart's Bindra gets more powers

The London-based Standard Chartered Bank has named Jaspal Bindra as the regional CEO - South East and South Asia. The region includes the bank's four biggest markets - Hong Kong, Korea, India and Singapore.

Bindra, till recently general manager-south Asia based in Mumbai, was elevated over a month ago as regional CEO but without charge of Singapore but has seen been given the additional responsibility of the bank's businesses in the city state. Singapore, apart from being a key market, is also a global hub for the bank's corporate and investment banking activities.

Bindra, whose second term in Mumbai lasted for about two years, now has governance responsibility over 12 countries. Cheng Teck Lim, CEO-Singapore will now report to Bindra, the bank said.

India has over the last few years become a "talent bank" for Standard Chartered, which calls itself an Asian-African bank. Around 150 middle and senior level officials from India have been absorbed into the bank's global network in calendar years 2005 and 2006.

The bank's global network has about 1,500 Indians at middle and senior levels, the largest number of people of one nationality. The bank globally employs almost 60,000 people of over 100 nationalities. In India the bank has 16,000 people in group operations, including over 7,000 on the bank's rolls.

Bindra is also a member of the group management committee, the apex decision making body of Standard Chartered headed by Group CEO Peter Sands and consisting of top ten executives of the bank worldwide. The other countries that Jaspal oversees are Malaysia, Indonesia, Thailand, Vietnam, Mauritius, Brunei, Sri Lanka, Bangladesh, Nepal and Afghanistan.

Also, Neeraj Swaroop, who joined the bank as CEO around India 18 months back, has been given additional governance responsibility over Nepal. Standard Chartered is the largest foreign bank in Nepal and is also listed locally in Nepal. Sujit Mundul, CEO-Nepal, will report to Neeraj.