Rana Talwar, the first Indian to head a global bank – Standard Chartered Bank, passed away on Saturday, January 27, at the age of 76. He was unwell for some time, according to a TOI report citing sources.
Talwar is survived by wife Renuka (daughter of DLF Group chairman emeritus K P Singh) and son Rahul (who is also involved with DLF).
“His last rites will be performed at Lodhi crematorium on Sunday,” said the TOI report citing company sources.
Rana Talwar, who had a Bachelor’s Degree in Economics from St. Stephens College in Delhi, started his career with Citibank in India in 1969. Rising through the ranks, he went on to lead Citi’s retail businesses in Asia-Pacific, Middle East, and then in Europe and North America.
Later, he joined Standard Chartered Bank in the summer of 1997, where after some months, he became its CEO. He was the former Group Chief Executive of SCB Plc from 1997 to 2002 and was responsible for transitioning SCB to one of the leading emerging markets banks. Prior to that, Rana was an Executive Vice President and Policy Committee member at Citicorp and Citibank.
Rana was instrumental in Standard Chartered Bank’s major acquisitions, including 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.
Rana Talwar was also the founding chairman and managing partner of Sabre Capital.
