Neeraj Swaroop, Standard Chartered Plc’s chief executive officer for South Asia, will become the U.K. bank’s head of South East Asia later this year, said two people with direct knowledge of the matter.
Swaroop, 52, takes over from Ray Ferguson and will be based in Singapore, said the people, who declined to be identified because the appointment hasn’t been announced publicly. Swaroop has been in his current role since 2007.
Standard Chartered’s South East Asia portfolio includes Singapore, Malaysia, Thailand, Philippines and Australia. Sunil Kaushal, the London-based bank’s chief executive officer for Taiwan, is the leading candidate to succeed Swaroop as head of India and South Asia, the people said.
Ferguson and Kaushal didn’t respond to e-mails seeking comment. Christiana Marran, a London-based spokeswoman for the bank, couldn’t immediately confirm or deny the report.
The appointment comes after the lender, which generates most of its earnings from Asia, appointed Harinder Singh as the regional co-head of wholesale banking for South Asia, according to a memo sent to employees on June 30. He was previously the global co-head of structuring based out of Dubai and also takes over as head of global markets for South Asia. Venkat Anantharaman, who was the head of corporate banking for India and South Asia, has also been promoted as the regional co-head for wholesale banking.
Standard Chartered hired Citigroup Inc.’s Sanjeeb Chaudhuri as head of South Asia consumer banking, it said in a June 7 statement.