A graduate of St. Stephens College in Delhi, Talwar joined Citibank in India in 1969, rising quickly to lead the bank's retail banking operations in Asia Pacific, the Middle East and then Europe and North America. Later, in 1997, he moved to Standard Chartered Bank and led it through the transformative years following the 1997 Asian Currency Crisis.
A graduate of St. Stephens College in Delhi, Talwar joined Citibank in India in 1969, rising quickly to lead the bank's retail banking operations in Asia Pacific, the Middle East and then Europe and North America.
Mumbai: Rana Talwar, the first Indian and Asian woman to head a global bank, died on Saturday after a long illness. He was 76.
According to a report, his last rites will be performed at Lodhi crematorium on Sunday.
A graduate of St. Stephens College in Delhi, Talwar joined Citibank in India in 1969, rising quickly to lead the bank's retail banking operations in Asia Pacific, the Middle East and then Europe and North America.
Later, in 1997, he joined Standard Chartered Bank. As CEO, Talwar led Standard Chartered Bank through the transformative years following the Asian Currency Crisis of 1997. He led major acquisitions for Standard Chartered, including the integration of UBS's trade finance business, ANZ's Grindlays Bank in India and the Middle East, and debt financing Chase Manhattan card store in Hong Kong.
After working at Standard Chartered, he founded the private equity fund Saber Capital. The company acquired a strategic stake in Centurion Bank, which was later merged with HDFC Bank.
Rana was also on the board of DLF after joining the real estate group in 2006. In a regulatory filing, DLF said, “It regrets to inform about the sad demise of Non-Executive Director Gurvirendra Singh Talwar (Rana Talwar) on Saturday,” brought to the attention of the company by the family members.
