Standard Chartered Bank sees departure of senior executive V Shankar

Standard Chartered's group executive director Viswanathan Shankar, who heads its business in Europe, Middle East, Africa and Americas, has resigned to pursue other interests, the bank said on Wednesday, April 1, 2015. -- PHOTO: STANDARD CHARTERED
Standard Chartered's group executive director Viswanathan Shankar, who heads its business in Europe, Middle East, Africa and Americas, has resigned to pursue other interests, the bank said on Wednesday, April 1, 2015. -- PHOTO: STANDARD CHARTERED

Another top Standard Chartered executive is leaving the bank, the latest in a string of departures from the ranks of its senior management.

Group executive director Viswanathan Shankar, who heads its business in Europe, Middle East, Africa and Americas, has resigned to pursue other interests, the bank said on Wednesday.

Mr Shankar, 57, a 13-year Standard Chartered veteran, will stand down from the board with effect from Apr 30 and leave the company thereafter.

His resignation follows a dramatic boardroom shake-up at Standard Chartered earlier this year, when the bank announced that chief executive Peter Sands, 53, will step down in June, while chairman John Peace, a staunch supporter of Mr Sands, will leave the board some time next year.

Four other directors, including the bank's Asia CEO Jaspal Bindra, will leave this year.

The bank also announced three new appointments. Mr Jonathan Paul, a former Deutsche Bank and Goldman Sachs banker, will join as group head of financial markets from Apr 7.

Mr Sumit Dayal and Mr Mark Dowie are promoted from within the bank to group head of corporate finance and vice chair of clients and products, respectively.