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StanChart appoints new India private banking head

StanChart appoints new India private banking head
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First Published: Mon, Jun 20 2011. 04 55 PM IST
Updated: Mon, Jun 20 2011. 04 55 PM IST
Mumbai: Standard Chartered said on Monday it has appointed Sandeep Das, a 20-year veteran with the UK-based emerging markets specialist bank, as head of its private banking business in India.
Das, who joined Standard Chartered in 1991 and previously head ed the Indian consumer banking business, takes over from Soumya Rajan who left the bank in May 2011.
Global banks such as Barclays , Credit Suisse , and Standard Chartered and many local players are fast expanding their wealth management business in India, aiming to hire hundreds of bankers between them.
Wealth in India and China will increase at a compounded annual growth rate of 18% and 14%, respectively from end-2010 through 2015, faster than the 5.9 % growth in global wealth, a Boston Consulting Group report showed.
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First Published: Mon, Jun 20 2011. 04 55 PM IST