Zarin Daruwala to Retire as CEO of Standard Chartered India and South Asia

Standard Chartered has announced that Zarin Daruwala, the Chief Executive Officer of the bank’s India and South Asia operations, will retire from her position on April 1, 2025. The announcement, made on October 9, marks the end of Daruwala’s tenure, which began in 2016, at one of the largest markets for the financial institution.

Daruwala’s banking career spans over 35 years. Her leadership over the past years has been instrumental in strengthening the bank’s focus on cross-border solutions, particularly in Corporate & Investment Banking (CIB) and wealth management within Wealth & Retail Banking (WRB). This approach has established a solid risk and compliance culture across Standard Chartered’s operations in India.

Sunil Kaushal, Co-Head of Corporate & Investment Banking and CEO of ASEAN and South Asia, remarked on Daruwala’s departure, saying, “I would like to thank Zarin for her contribution to India and South Asia’s growth, on the ground and as part of our cross-border network. With her focus on execution and investments, Zarin has overseen a remarkable turnaround of the India business. We wish her the very best in her future endeavors.”

The bank has yet to announce a successor to Daruwala but has promised to update stakeholders in due course. Her departure underscores a period of transition for Standard Chartered as it continues to navigate the competitive financial landscape in India and South Asia.