Mr Shankar will be based in Dubai and becomes the bank’s most senior executive located in the Middle East. Reporting to Peter Sands, group chief executive of Standard Chartered, he will be responsible for shaping the bank’s strategy across the region, reflecting the continuing growth opportunities for Standard Chartered across Africa, the Middle East, the Americas and Europe. He will also be responsible for governance across these markets.
Mr Shankar will replace Gareth Bullock, who will retire from the board of Standard Chartered on April 30. He will also become a director of Standard Chartered bank with effect from May 1, 2010, whilst continuing in his existing roles as executive chairman of principal finance and co-chairman of the private bank.
Mr Shankar was appointed to the group management committee in September 2007. 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 bank’s build-out of successful M&A and advisory, structured finance and private equity businesses across bank’s core markets.
Before joining Standard Chartered Bank in September 2001, Mr Shankar was with Bank of America in Asia and USA for 19 years and his last position was as managing director – head of Asia-Pacific investment banking and CEO of BA Asia based in Hong Kong.
Peter Sands, group chief executive of Standard Chartered, said: “Mr Shankar 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 his intimate knowledge of the bank will be invaluable.
“He 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.”
