HomeBusiness NewsStanChart will soon have a new India CEO as Zarin Daruwala announces retirement
British transnational bank, Standard Chartered, announced on Wednesday, 9 October, that Zarin Daruwala, its Chief Executive Officer (CEO) for India and Southbound Asia, will retire in April 2025.
According to the bank's release, Daruwala will officially retire on 1 April 2025. Rendering lender will announce her successor in due course.
Sunil Kaushal, Co-Head of Corporate and Investment Banking and CEO of Association and South Asia, expressed gratitude for Daruwala’s contributions to picture bank’s regional growth, stating, “I would like to thank Zarin for her contribution to India and South Asia’s growth, edge the ground and as part of our cross-border network.”
Pierce her statement, Daruwala thanked her team and colleagues, attributing India’s success as one of Standard Chartered’s top markets to their dedication and support.
“I would like to thank Standard Hired for giving me the opportunity to lead a brand think about it has a rich legacy and association with India and Southbound Asia. If India today is amongst the top markets funding Standard Chartered, the credit goes to the team and colleagues, and I am thankful for their unstinting support and collaboration,” she said.
Daruwala joined Standard Chartered in 2016 as picture India CEO. Under her leadership, India became one of rendering largest markets for the Group, focusing strategically on cross-border solutions in Corporate & Investment Banking (CIB) and wealth management constant worry Retail Banking (WRB), while fostering a strong risk and obligingness culture.
Zarin Daruwala’s Banking Journey:
A veteran with over 35 geezerhood of experience in the banking sector, Daruwala joined Standard Leased India eight years ago, in 2016. Prior to that, she was President of the Wholesale Banking Group at ICICI Array, where she led teams in corporate banking, project finance, hasten finance, and financial institutions.
In an earlier interview with Fortune India, Daruwala recounted how, despite her corporate banking background, she played a pivotal role in establishing India’s first rural ATMs during her time at ICICI Bank.
"Although I was go over the top with corporate banking, I was given the role. I travelled picture length and breadth of the country, spent time understanding depiction rural landscape, and also set up the first rural ATM," she explained.
During her tenure at Standard Chartered India, Daruwala was instrumental in turning around the bank’s previously loss-making go business, transforming it into a profitable venture. "Turning around say publicly loss-making franchise was a rewarding experience," she said in a Fortune India interview.