New Delhi: In a saddening development, Rana Talwar, the trailblazer who became the first Indian to lead a global bank, Standard Chartered Bank, has passed away at the age of 76. According to sources, Talwar had been unwell for some time. Rana Talwar kickstarted his illustrious career with Citibank in India back in 1969.
He was armed with a Bachelor’s Degree in Economics from St. Stephens College in Delhi. His journey saw him rise through the ranks, eventually leading Citibank’s retail businesses across Asia-Pacific, the Middle East, and later, Europe and North America. (Also Read: Bank Holidays In February 2024: Financial Institutions To Be Closed For 11 Days)
Stint At Standard Chartered Bank
In the summer of 1997, Talwar joined Standard Chartered Bank and, within a short span, ascended to the position of CEO. His leadership from 1997 to 2002 marked a crucial period for the bank as he played a pivotal role in transitioning it into one of the leading emerging markets banks globally. (Also Read: Latest HDFC Bank Fixed Deposit Rates 2024: Check How Much Return You Will Get)
Architect Of Strategic Acquisitions
Rana Talwar’s tenure at Standard Chartered was marked by strategic acquisitions that shaped the bank’s trajectory. Notable among these were 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.
Legacy Beyond Banking
Beyond his banking career, Talwar was the founding chairman and managing partner of Sabre Capital, further showcasing his diverse contributions to the financial landscape.
Survived By Family
Rana Talwar is survived by his wife Renuka, the daughter of DLF Group chairman emeritus K P Singh, and his son Rahul, who is actively involved with DLF. His last rites are scheduled to take place at Lodhi crematorium on Sunday, as confirmed by company sources.