Standard Chartered on February 17 announced the appointment of banking veteran Prabdev Singh as the CEO of its India business, effective from April 1. PD Singh will succeed Zarin Daruwala who is set to retire on March 31.
PD Singh earlier served as the CEO of JP Morgan Chase Bank in India. Prior to that, he worked at HSBC for over a decade. He holds a double MBA along with an engineering degree, and is well-known for his contribution to the financial sector.
Earlier in June 2024, JP Morgan had confirmed that PD Singh has stepped down before the end of his term as the CEO of its India operations. The reason for the early departure was not revealed.
Speaking about his new appointment at Standard Chartered, PD Singh said, "It's a privilege for me to join Standard Chartered, which has a rich legacy spanning more than 165 years. I have been a keen observer of the Bank's ambitions and growth trajectory in India and am looking forward to playing a role in reaffirming our commitment by further driving sustained growth and delivering value to our stakeholders."
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Sunil Kaushal, CEO for ASEAN and South Asia, Standard Chartered Bank, said, "A very warm welcome to P.D. Singh. India is a key market within Standard Chartered, and we have ambitious plans as the country's growth story continues to unfold. His in-depth experience and understanding of the markets, coupled with strong client and stakeholder relationships, will be a valuable addition to the Bank's leadership team as we accelerate our cross-border and wealth strategy."
"I would like to thank Zarin Daruwala for her contribution over the last nine years as CEO of India & South Asia. I wish her the very best for her future endeavours," he added.
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