Ex-JP Morgan India CEO on Standard Chartered list for top job
JP Morgan India chief executive officer PD Singh is among three candidates shortlisted by Standard Chartered Bank to succeed Zarin Daruwala as the chief executive officer for India and South Asia, people familiar with the matter said.
Rahul Shukla, group head for commercial and rural banking at HDFC Bank, and Venugopal Ranganathan, chief risk officer (CRO) at Standard Chartered, are the two other names submitted to the Reserve Bank of India (RBI) for the CEO post, the people said.
Daruwala retires from the bank in March after eight years at the top job.
«All three of them were interviewed by the bank sometime in October, following which names have been sent to the regulator for its okay as it is the norm,» said one person aware of the matter. «PD Singh has been ranked as the preferred candidate by the bank and also the name of one internal candidate has been sent as is the norm,» the person said.
RBI usually seeks names of one preferred candidate and at least one internal name for top positions in banks. The central bank's approval is mandatory before banks can announce the chosen candidate. «The names have been sent to the RBI in the middle of November and the regulator normally takes a couple of months to give its decision. The bank has enough time because Zarin is around till March,» said a second person aware of the details.
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