According to a news article from finews.asia, which is an Asia’s leading news site for financial professionals, Standard Chartered has recently hired 2 private bankers, Kapil Poply and Guarav Gupta from UOB (‘Standard Chartered maintains its accelerated private banking expansion drive with the latest hire of a former UOB private banker‘, 24 Aug).
Poply joins Standard Chartered Private Bank as a managing director and senior client partner for global South Asia community (GSAC) markets while Gupta was appointed executive director and relationship manager for GSAC of Standard Chartered, reported finews.asia. Both are said to report Ravi Ramakrishnan, managing director and GSAC market head at Standard Chartered Private Bank.
Standard Chartered wants to hire 30-40 private bankers per year over the next two to three years so as to boost its assets under management (AUM) to $100 billion within five years.
According to LinkedIn, Poply joined UOB in 2017. He was the Senior Team Head of UOB Private Bank. He has been in Singapore for 6 years. He graduated from Kirorimal College Delhi University with a degree in Economics.
In the case of Gupta, he is said to have 15 years of experience managing high net worth individuals across the Middle East and Southeast Asia markets. He was a senior client advisor at UOB Private Bank before moving to Standard Chartered.
Significantly Rooted Foreign Bank
Earlier this month, Standard Chartered was awarded by the Monetary Authority of Singapore (MAS) the status of “Significantly Rooted Foreign Bank”.
In a press statement on 12 Aug, Standard Chartered said it has a very “broad and effective programme to develop our Singaporean talent”.
It said that Singaporeans now form 70% of the Bank’s Singapore subsidiary here and added that 70% of its Singapore management team are Singaporeans.
“The Bank has many Singapore Core leaders across global and regional roles as well and there are currently 140 Singaporeans posted overseas,” it said.
“As part of the Bank’s continuous efforts to expand its search network for local candidates and support industry efforts to upskill locals, the Bank has participated in jobs and training initiatives such as the SGUnited Traineeships Programme, SkillsFuture Work-Study Programme and the Finance Associate Management Scheme.”
“The Bank is one of the first to embark on Professional Conversion Programme, and is also hiring mid-career PMETs in growth areas such as Digital, Technology and Cybersecurity,” it explained.
“Standard Chartered has committed S$8 million to help our workforce here with reskilling and training initiatives across the career life cycle. These efforts complement the Bank’s recruitment and development programmes to nurture Singapore talent and Singaporeans overseas to grow its business.”