StanChart names Jaspal Bindra new SE Asia chief
Mumbai: Standard Chartered Bank has named Jaspal Bindra as the regional CEO-south east and south Asia.

Bindra was, till recently, general manager south Asia, and was elevated a month ago as regional CEO but without charge of Singapore. He has now been given the additional responsibility of the bank's businesses in Singapore, which apart from being a key market, is also a global hub for the bank's corporate and investment banking activities.

Bindra now has governance responsibility over 12 countries. The other countries that Bindra oversees are -Malaysia, Indonesia, Thailand, Vietnam, Mauritius, Brunei, Sri Lanka, Bangladesh, Nepal and Afghanistan.

Cheng Teck Lim, CEO-Singapore will now report to Bindra, the bank said in a statement.

Stanchart's global network has 1,500 Indians at middle and senior levels, the largest number of people of one nationality. In India the bank has 16,000 people in group operations, including over 7,000 on the bank's rolls.
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Orascom chief steps down from Hutchison board
New Delhi: Eqyptian firm Orascom's CEO Naguib Sawiris has stepped down from the board of Hong Kong-based Hutchison Telecom (HTIL), a few days before its shareholders are scheduled to consider the sale of its stake in Indian mobile venture Hutch-Essar to Vodafone.

Sources close to the development said his resignation could be construed to his reservations over the Hutchison-Vodafone deal and the development could be a precursor to Orascom selling its 19.3 pc stake in HTIL.

HTIL would seek shareholders' support for the deal on March 9 and Sawiris' resignation could play a dampener given Orascom's significant stake, the sources added.

Orascom itself had been interested in acquiring control of Hutch-Essar and is believed to have expressed its unhappiness to Hutchison top brass over the deal.
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