Shankar (53), a Singaporean, will continue to be based in Dubai, where he moved in May 2010 to become CEO, Europe, Middle East, Africa and Americas.
He joined Standard Chartered in 2001 and was appointed to the Group Management Committee in September 2007. He is also a Director of Standard Chartered Bank and Chairman of Principal Finance and the Standard Chartered Private Bank. Prior to his current position, he was Group Head of Origination and Client Coverage and served as Group Head of Corporate Finance. Before joining Standard Chartered, Shankar worked for Bank of America in Asia and the USA for 19 years.
“Shankar will be an excellent addition to the Board. He is one of our most experienced bankers who will carry great respect in this role. He remains the most senior international banking executive ever to be based in the Middle East, which is a strong statement of our commitment to the region and ensures that our senior leaders are positioned across our key markets,” Sir John Peace, Chairman of Standard Chartered PLC, said.
“I am delighted to welcome Shankar to the Board. He has been a valued member of the Group Management Committee and his addition will further strengthen the Board, particularly with his international outlook and client focused experience,” Peter Sands, Group Chief Executive, said.