StanChart India chief to take over as SE Asia CEO

(Reuters):  Neeraj Swaroop, chief executive at Standard Chartered in India and South Asia, will take over as Southeast Asia chief executive and move to Singapore by the end of this year, a source with direct knowledge of the matter said on Monday.

Swaroop, who has been in his current role since 2005, will be replaced Ray Ferguson, Standard Chartered’s chief executive for Singapore and Southeast Asian operations, said the source, who declined to be named as the information was not public yet.

A spokesman for the UK-based Standard Chartered in Mumbai and a spokeswoman in Singapore declined to comment.

The emerging markets specialist bank will name Swaroop’s successor, who is likely to move from one of the bank’s overseas offices, in a month’s time, the source said.

Standard Chartered listed on the Indian exchanges last year by issuing depositary receipts in a move to strengthen its brand and presence in Asia’s third-largest economy, which was its biggest market last year.