StanChart Restructures Sector Coverage as Anantharaman Retires
(Bloomberg) -- Standard Chartered Plc is restructuring the team of bankers that provides dedicated coverage to different sectors as V. Anantharaman, head of its Global Industries Group, retires from the bank.
The London-based firm will keep dedicated coverage of industries where it has scale, according to an internal memo obtained by Bloomberg. Oil and gas, metals and mining, and clean technology are among the focus areas, it said in the Sept. 11 memo, which was sent by global banking head Paul Skelton.
It’s the second time Standard Chartered has restructured its sector coverage since the beginning of 2017. Singapore-based Anantharaman, who has led the Global Industries Group since it was created in last year’s reshuffle, is leaving the bank after eight years to pursue interests in the technology startup sector, Standard Chartered confirmed in an emailed response to Bloomberg News queries.
Anantharaman was earlier Standard Chartered’s head of international corporates for the Association of Southeast Asian Nations and South Asian regions, based in Mumbai. The firm’s global head of commercial real estate, Steve Cranwell, will take over leadership of the Global Industries Group in addition to his current responsibilities, according to the memo.
Standard Chartered will also retain dedicated banker coverage for the power, utilities and infrastructure sector, as well as commodity traders and agribusiness, the memo shows. Clients in the consumer, telecom, media, industrials and auto sectors will be served by the country and regional teams, according to Standard Chartered’s emailed statement.
A representative for Standard Chartered declined to comment further.
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