Foreign banks shuffle pack

MUMBAI: Changes at the senior and middle management levels are under way at some of India''s leading foreign banks. MA Ravi Kumar, regional head-global markets, StanChart, is moving to New York as head of global markets and co-head of wholesale bank for North and South America. He will be in charge of the markets in the US, which is also a hub for foreign clients, besides Argentina, Brazil, Mexico and Columbia. Ravi Kumar is likely to take up his assignment by the month-end. His successor is likely to be Sunil Bhandari, who looks after credit operations in Stanchart Singapore. This is the first senior-level management movement in the bank after Christopher Low took over as CEO. Tarun Mahrotri, who was the treasurer at HSBC India, has been posted to Hong Kong as head of regional trading. His post has been taken over by Monish Tahilramani, who was the head of interest rate trading in the bank. There have been other changes also at HSBC. Vijay Venkatram, head private banking, has signed up with Fidelity for its asset management business in India as the head of sales and marketing. Vivek Kudwa, the retail head, has also put in his papers, and is now relocating to the Middle-East. Kudwa is likely to be replaced by an expatriate from the bank''s Singapore office, while Venkatram''s position has still been kept open. The exit aside, the bank has gone into an aggressive mode and recruited a host of people in the junior and middle level. It has recruited close to 25 people from Citi Bank too. Also, Natasha Khakhar Patel, head transaction banking, StanChart, has joined HSBC in the same position. She has taken over from Arjun Bambawale, who has taken up an assignment with HSBC Singapore. Farooq Siddiqui, head supply-chain management, StanChart, has been shifted to the bank''s Singapore office with Ambika Ravi taking over from him. Other smaller banks have also been on a recruitment spree. BNP Paribas, for instance, has hired close to 20 people at the junior and middle level in corporate banking.

Foreign banks shuffle pack

Changes at the senior and middle management levels are under way at some of India's leading foreign banks.

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