New Delhi: Saturday marked the passing of Rana Talwar, a pioneer in the banking world and the first person from Asia to helm a global bank, Standard Chartered. The 76-year-old banking veteran had been unwell for some time. Read on to find out about the tycoon.
Rana Talwar: Early Career
Rana Talwar kick-started his illustrious career with Citibank India in 1969. He swiftly climbed the corporate ladder, overseeing Citibank’s retail operations across Asia-Pacific, the Middle East, Europe, and North America. (Also Read: Latest HDFC Bank Fixed Deposit Rates 2024: Check How Much Return You Will Get)
Rana Talwar: Standard Chartered
In the summer of 1997, this St. Stephens alumnus embarked on a new chapter, joining Standard Chartered. Within months, he assumed the role of CEO, marking a historic moment as the first Asian to head an international bank. (Also Read: Bank Holidays In February 2024: Financial Institutions To Be Closed For 11 Days)
Rana Talwar: Tenure At Standard Chartered
During his tenure at Standard Chartered, Talwar played a pivotal role in significant acquisitions. Notable among these were 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: Beyond Banking
Moving on from Standard Chartered in 2002, the seasoned banker founded Sabre Capital, a private equity firm. Interestingly, the name ‘Sabre’ holds significance as it means ‘sword,’ translating to ‘Talwar’ in Hindi.
Rana Talwar: Family
Rana Talwar is survived by his wife, Renuka, whose father is DLF Group chairman emeritus KP Singh. Their son, Rahul, continues to be involved with DLF.
Rana Talwar’s final rites are scheduled to take place at Delhi’s Lodhi Road cremation ground on Sunday.