DUBAI, March 22 (Reuters) - U.K. bank Standard Chartered on Monday named V. Shankar as chief executive for the Middle East, Africa, the Americas and Europe, where he will focus on governance and try to grow the lender's business.
Shankar, a Singaporean, will be based in Dubai and take up his role on May 1. He is currently executive chairman of the bank's principal finance unit and co-chairman of the private banking division.
StanChart is one of the four U.K. banks sitting on a seven-member informal committee that handles the debt negotiations between state-owned Dubai World and its nearly 100 creditors.
Standard Chartered's bad loans in the Middle East and other South Asia region rose to $811 million last year from $185 million in 2008.
Shankar will report to Peter Sands, StanChart's chief executive, and replaces Gareth Bullock who will retire.
(Reporting by Nicolas Parasie; editing by Thomas Atkins) Keywords: DUBAI STANCHART (nicolas.parasie@thomsonreuters.com; +971 4 391 8301; Reuters Messaging: nicolas.parasie.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shankar, a Singaporean, will be based in Dubai and take up his role on May 1. He is currently executive chairman of the bank's principal finance unit and co-chairman of the private banking division.
StanChart is one of the four U.K. banks sitting on a seven-member informal committee that handles the debt negotiations between state-owned Dubai World and its nearly 100 creditors.
Standard Chartered's bad loans in the Middle East and other South Asia region rose to $811 million last year from $185 million in 2008.
Shankar will report to Peter Sands, StanChart's chief executive, and replaces Gareth Bullock who will retire.
(Reporting by Nicolas Parasie; editing by Thomas Atkins) Keywords: DUBAI STANCHART (nicolas.parasie@thomsonreuters.com; +971 4 391 8301; Reuters Messaging: nicolas.parasie.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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