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StanChart's Viswanathan Shankar to step into entrepreneurship

Tags: Standard Chartered Bank, Viswanathan Shankar, Bank of America, Singapore Indian Development Association, Majid Al Futtaim Holding, Asia Society

April 03, 2015 | COMMENTS ( 0 )

StanChart\'s Viswanathan Shankar to step into entrepreneurship

Viswanathan Shankar, Chief Executive Officer (Europe, Middle East, Africa and Americas) of Standard Chartered Bank has been speculated to leave the group by the end of this April to lay the foundation of his own venture.

Reportedly, the 57-year-old banker is likely to put down papers from the Standard Chartered Bank Group on April 30.

Shankar joined the Board on 1 January 2012. He joined Standard Chartered in 2001 as Group Head of Corporate Finance, and was appointed Group Head of Origination and Client Coverage in 2007, and promoted to his current role in 2010.

"I will start my own private equity firm focused on Asia, Africa and the Middle East, based out of Singapore and Dubai," said Shankar.

Before joining Standard Chartered, Shankar worked with Bank of America for 19 years. In addition to his responsibilities at Standard Chartered, Shankar is a non-executive director of Majid Al Futtaim Holding LLC; a trustee of the Asia Society, New York; and, a member of the board of trustees of the Singapore Indian Development Association (SINDA).

He holds BSc in Physics from Loyola College in Chennai and a MBA from the Indian Institute of Management in Bangalore.

As per the bank's announcement, the Chief Executive Peter Sands will step down in June and Chairman John Peace will leave the board in the next year.

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