Mercuria’s Raj Chawla Appointed ICBC Standard Bank’s Asia COOby and
Chawla was previously COO of Mercuria’s marine fuel unit
ICBC Standard formed in ’15 after purchase of markets business
ICBC Standard Bank Plc hired former Mercuria Energy Group executive Raj Chawla as its chief operating officer for Asia.
Chawla’s appointment as a joint COO and chief financial officer is effective immediately, a spokesman for the bank said in an e-mailed statement to Bloomberg News.
Chawla, previously Mercuria’s global COO of marine fuel business, spent two years with the energy trader after 15 years with JPMorgan Chase & Co., where his roles included serving as head of commodities for China. The U.S. bank sold parts of its physical commodities business to Mercuria in 2014.
ICBC Standard Bank was formed last year, when Industrial and Commercial Bank of China Ltd., the nation’s biggest bank, bought a controlling stake in Standard Bank Plc’s global markets business. ICBC Standard Bank has agreed to buy a London precious metals vault from Barclays Plc and has joined the city’s precious-metals clearing system and its auction for setting daily gold prices.