Standard Chartered Regional CEO Steps Down

Ajay Kanwal, exiting Standard Chartered

Ajay Kanwal, exiting Standard Chartered

Standard Chartered has announced the resignation of its regional CEO, ASEAN and South Asia, with immediate effect.

Standard Chartered today unexpectedly announced the resignation of Ajay Kanwal. Kanwal will step down from his role as Regional CEO, ASEAN and South Asia (ASA) with immediate effect.

Anna Marrs 511Anna Marrs (pictured left) will assume the role of Regional CEO, ASA, in addition to her existing role as CEO, Commercial and Private Banking subject to regulatory approval. She joined Standard Chartered in 2012 and has held a number of roles within the bank including Group Head of Strategy and Corporate Development, and is currently the CEO of Standard Chartered’s Commercial and Private Banking businesses. She will continue to be based in Singapore.

 Businesses Outside of the Bank

Speaking on Monday Kanwal said: «The Bank rightly sets very high internal standards on disclosures for all staff. After careful deliberation I felt that some of my internal disclosures about my historical personal investments in businesses outside the Bank did not meet these very high standards. Though I do not own these investments anymore, as a senior leader my actions should be beyond reproach. Hence with regret I have decided to tender my resignation. I wish Bill and all my colleagues a very successful future.»

Kanwal will assist Marrs in transitioning to the new role as required.

 

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