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Tue 7 Apr 2015 01:38 PM

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Standard Chartered's UAE chief exec Nathani resigns

Mohsin Nathani plans to take career break; announcement comes just days after departure of Viswanathan Shankar

Standard Chartered's UAE chief exec Nathani resigns

Mohsin Nathani has resigned as chief executive of Standard Chartered's business in the United Arab Emirates, the bank said on Tuesday.

Several senior members of staff have left the emerging markets-focused bank, which has been struggling after a two-year slump.

Nathani, who joined Standard Chartered in 2010 as chief executive of Pakistan, will remain at the bank during his notice period and ensure a smooth transition to a successor, the bank said.

Viswanathan Shankar resigned as chief executive of Europe, Middle East, Africa and Americas, and will step down from the board at the end of April, Standard Chartered said last week.

Afaq Khan quit last month as chief executive of Standard Chartered Saadiq, the lender's global Islamic banking business.

In the UAE, Bejan Roohi has also resigned as the bank's managing director and head of origination and client coverage for Abu Dhabi, Roohi confirmed to Reuters last month.

The bank in October 2014 closed the accounts of thousands of small and medium sized business customers in the UAE in response to pressure from US regulators to cut its risk following an anti-money laundering settlement.

Its new chief executive, Bill Winters, is expected to oversee a shakeup when he takes over from Peter Sands in June.

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rhball 5 years ago

good riddance ! I think this was the guy who oversaw the SME account closures. No concern for the customer whatsoever..