Hong Kong: Standard Chartered has named Nainesh Jaisingh the new head of its private equity unit, even as the Asia-focused bank looks to reduce its private investments exposure over the next few years, said a person with direct knowledge of the matter.
Jaisingh, currently the global co-head of Standard Chartered private equity, will take over the new role from Joseph Stevens who is leaving the bank, the person told Reuters, declining to be named as the move is not public yet.
Standard Chartered’s private equity unit, which manages about $5 billion in investments, is looking to reduce its total exposure over the next few years as part of the chief executive officer Bill Winters’ push to exit from areas not critical for the bank, said the person.
A spokeswoman for Standard Chartered declined to comment, while Jaisingh did not comment and Stevens could not immediately be reached. Reuters