StanChart picks ex-JPMorgan executive as next India head: Report

Standard Chartered has been operating in India for more than 160 years making it one of the oldest foreign banks in the country

Standard Chartered has nominated ex-JPMorgan India chief P D Singh to be the next India and South Asia CEO, two sources with direct knowledge of the matter told Reuters on Tuesday.

The Asia-focused lender has sought approval from the central bank for Singh's appointment, the sources said on condition of anonymity.

Singh, who has held top management roles in banks including HSBC in the last two decades, declined a Reuters request for comment.

Standard Chartered and the Reserve Bank of India (RBI) did not immediately respond.

If the RBI approves the appointment, Singh will replace Zarin Daruwala at Standard Chartered, who is set to retire on April 1, 2025, after nearly a decade in the role.

Standard Chartered has been operating in India for more than 160 years making it one of the oldest foreign banks in the country. It has a network of 100 branches across 42 cities.