A SINGAPOREAN, Mr. Vis Shankar, has been named the Chief Executive Officer, CEO for Standard Chartered in four continents; Middle East, Africa, the Americas and Europe with effect from 1 May 2010.
He would be based in Dubai and the Bankâ€™s most senior executive located in the Middle East and would be reporting to Mr. Peter Sands, Group Chief Executive of Standard Chartered.
The new CEO would be responsible for shaping the bankâ€™s strategy across the region, reflecting the continuing growth opportunities for Standard Chartered across Africa, the Middle East, the Americas and Europe and as well as be responsible for governance across these markets.
He is replacing Gareth Bullock, who would retire from the Board of Standard Chartered PLC on 30 April.
Becoming also a Director of Standard Chartered Bank with effect from 1 May 2010, also, he would continue his existing roles as Executive Chairman of Principal Finance and Co_Chairman of the Private Bank.
Shankar, a Singaporean, was appointed to the Group Management Committee in September 2007.Â Prior to his current position as Group Head of Origination and Client Coverage he served as Group Head of Corporate Finance, where he spearheaded the Bankâ€™s build_out of successful M&A and Advisory, Structured Finance and Private Equity businesses across our core markets.
In addition to his responsibilities at Standard Chartered, Shankar is a member of the Board of the Inland Revenue Authority of Singapore and Board of Trustees of Singapore Indian Development Association (SINDA).Â He is also a member of the Singapore Governmentâ€™s Economic Strategies Committee, National Integration Council and Committee to develop the accountancy sector.
Commenting on the appointment, Peter Sands, Group Chief Executive of Standard Chartered said:
â€œShankar is one of our most experienced, international and client_focused bankers. He is a great asset to our management team and I am delighted that he is taking on this important role. Good governance is critical for a well_run bank and Shankarâ€™s intimate knowledge of the Bank will be invaluable.â€
â€œHe will be our most senior executive ever to be based in the Middle East, which is a strong statement of our commitment to the region, and ensures that our senior leaders are positioned across our key markets.â€