Madan
Menon to head India unit of Royal Bank of Scotland Mumbai: The Royal
Bank of Scotland (RBS) has hired Madan Menon, former co-CEO of Barclays Capital,
to head its India operations. RBS
is said to be planning s to set up a corporate and retail banking businesse in
India but due to its ongoing takeover bid for ABN Amro bank, the ramp-up of Indian
banking operations may take some time. At
present, RBS does not have any presence in India as a bank but runs a 1,000-employee
software development centre.
Menon
has been with Barclays for the last seven years and before
that was employed with American Express Bank. Sources
said Menon left Barclays after its parent firm restructured
its Indian operations into three different profit centres
and asked the new heads to report directly to its Hong
Kong office.
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