Anz Grindlays Retail Head Rahul Khosla Quits

Industry sources said Anoorop (Tony) Singh -- the former chief executive officer (CEO) of ANZ Grindlays -- is also likely to put in his papers over the next few weeks, while another senior executive, Rajiv Maliwal (head, corporate banking), may take up a new assignment in either London or Singapore.

Jaspal Bindra, former head of corporate and institutional banking at Standard Chartered Bank, took over as the CEO of the newly-formed StanChart Grindlays -- the new avatar of ANZ Grindlays in India -- and Harpal Duggal, head of consumer banking at Standard Chartered, was made the CEO of StanChart in India early this month. Bindra replaced Singh who was heading Grindlays operations in India, while Duggal filled in the place of John Filmeridis.

 

Appointment of the two CEOs in the first week of August kicked off the integration process of the two banks in India following StanChart's $1.3 billion acquisition of ANZ Grindlay's operations in Middle East and south Asia (Mesa).

Before the integration process took off, H V Sheshadri, head of corporate banking in the north in ANZ Grindlays put in his papers. Sheshadri, who was reporting to Maliwal, head of wholesale banking in India, is taking over as head of Mashreq Bank in India.

Douglas Beckett, who has been appointed manager, business planning and implementation, had earlier said : "The task before us is challenging but full of opportunities as we begin to build the premier international banking group in India. Our focus will be to ensure that we continue to provide our customers with the highest levels of product and service quality." The two banks will continue to remain two separate entities for the next two years before formally merging into one.

Michael Jerrery, regional treasurer with Standard Chartered Bank, London, on July 31 took over as the non-executive chairman of ANZ Grindlays Asset Management Company. Girija Pande, head, funds management at ANZ Grindlays and chairman of ANZ Grindlays AMC, retired after completing 25 years of service. Pande was replaced by Naval Bir Kumar as managing director of ANZ Grindlays AMC.