Daruwala to retire from Standard Chartered

Standard Chartered on Wednesday said its India and South Asia Chief Executive Officer Zarin Daruwala has decided to retire at the end of FY25. The veteran banker has been with the foreign lender since 2016.

In a statement, the bank said it would update her successor in due course.

India has become one of the largest markets for the lender during her stint as she emphasised cross-border solutions in corporate and investment banking (CIB) and wealth and affluence in wealth and retail banking (WRB), with a strong risk and compliance culture, the statement added.

"If India today is amongst the top markets for Standard Chartered, the credit goes to the team and colleagues," she said.

Daruwala, who will turn 60 in February next year, has had a 35-year banking career. She had joined StanC from ICICI Bank where she used to oversee the entire corporate credit function.