Updated January 28th, 2024 at 10:03 IST
Rana Talwar, First Indian to Head Global Bank Standard Chartered, Passes Away at 76
Rana Talwar, the first Indian to lead a global bank, passed away at 76. His leadership shaped the Standard Chartered's emergence in emerging markets.
New Delhi: Rana Talwar, the first Indian to lead a global bank, Standard Chartered Bank, passed away on Saturday, January 27, at the age of 76. He had been unwell for some time, according to an English Daily’s reports.
Talwar is survived by his wife Renuka, who is the daughter of DLF Group chairman emeritus K P Singh, and his son Rahul, who is also involved with DLF. The report, citing company sources, mentioned that his last rites will be performed at Lodhi crematorium today.
Rana Talwar, with a Bachelor’s Degree in Economics from St. Stephens College in Delhi, began his career with Citibank in India in 1969. Progressing through the ranks, he led Citi’s retail businesses in Asia-Pacific, Middle East, Europe, and North America.
In the summer of 1997, he joined Standard Chartered Bank, quickly becoming its CEO. He served as the former Group Chief Executive of SCB Plc from 1997 to 2002, playing a crucial role in transitioning SCB into one of the leading emerging markets banks. Before that, Rana was an Executive Vice President and Policy Committee member at Citigroup and Citibank.
Rana Talwar played a key role in Standard Chartered Bank’s significant acquisitions, including the Trade Finance business of UBS, Grindlays Bank in India and the Middle East from ANZ, and the Credit Card business from Chase Manhattan in Hong Kong. He was also the founding chairman and managing partner of Sabre Capital.
Published January 28th, 2024 at 10:03 IST