Mumbai: Rana TalwarThe first Indian and Asian to lead global bankDied on Saturday at the age of 76.
Sources said that he was unwell for some time. He is survived by his wife Renuka (daughter of DLF Group Chairman Emeritus KP Singh) and son Rahul (who is also associated with DLF). Company sources said that his last rites will be performed at Lodhi crematorium on Sunday.
An alumnus of St. Stephen’s College, Delhi, Talwar started his career with Citibank in India in 1969. He played a key role in shaping Citi’s consumer banking business into a leading franchise in the nineties.
He rose rapidly, leading Citi’s retail businesses in Asia-Pacific, the Middle East, and then Europe and North America. He then joined Standard Chartered Bank in the summer of 1997, where he took over as CEO after a few months.
Talwar led Standard Chartered Bank in the transformational years following the Asian currency crisis. As chief executive he planned major acquisitions, including the integration of Standard Chartered ubsANZ’s trade finance business, ANZ’s Grindlays Bank in India and the Middle East, and Chase Manhattan’s credit card business in Hong Kong.
A firm believer in the economic resilience of Asia, Talwar navigated the challenges posed by the 1997 Asian currency crisis, strengthening Standard Chartered’s position in Asia. Following his tenure at Standard Chartered, he founded the private equity fund Saber Capital, which was named after him (saber is the English word for sword). One of Saber Capital’s biggest deals in India was the acquisition of a strategic stake in Centurion Bank. Talwar later played a key role in its merger with HDFC Bank.
He was also on the board of DLF after joining the realty major in 2006. In a regulatory filing, DLF said: It is sad to inform about the sad demise of the non-executive director. Gurvirendra Singh Talwar (Rana Talwar) died on Saturday, about which his family informed the company.
Sources said that he was unwell for some time. He is survived by his wife Renuka (daughter of DLF Group Chairman Emeritus KP Singh) and son Rahul (who is also associated with DLF). Company sources said that his last rites will be performed at Lodhi crematorium on Sunday.
An alumnus of St. Stephen’s College, Delhi, Talwar started his career with Citibank in India in 1969. He played a key role in shaping Citi’s consumer banking business into a leading franchise in the nineties.
He rose rapidly, leading Citi’s retail businesses in Asia-Pacific, the Middle East, and then Europe and North America. He then joined Standard Chartered Bank in the summer of 1997, where he took over as CEO after a few months.
Talwar led Standard Chartered Bank in the transformational years following the Asian currency crisis. As chief executive he planned major acquisitions, including the integration of Standard Chartered ubsANZ’s trade finance business, ANZ’s Grindlays Bank in India and the Middle East, and Chase Manhattan’s credit card business in Hong Kong.
A firm believer in the economic resilience of Asia, Talwar navigated the challenges posed by the 1997 Asian currency crisis, strengthening Standard Chartered’s position in Asia. Following his tenure at Standard Chartered, he founded the private equity fund Saber Capital, which was named after him (saber is the English word for sword). One of Saber Capital’s biggest deals in India was the acquisition of a strategic stake in Centurion Bank. Talwar later played a key role in its merger with HDFC Bank.
He was also on the board of DLF after joining the realty major in 2006. In a regulatory filing, DLF said: It is sad to inform about the sad demise of the non-executive director. Gurvirendra Singh Talwar (Rana Talwar) died on Saturday, about which his family informed the company.
