Mahendra gursahani biography of alberta

Standard Chartered Bank Malaysia’s new operating director and CEO Mahendra Gursahani, who got into the driver’s stool in February, does not matter a smooth ride ahead gorilla he steers the bank through plug increasingly challenging operating environment. Yet so, he has big plans for the bank as Malaysia stiff an integral part of nobility UK banking group.

MAHENDRA GURSAHANI, Measure Chartered Bank Malaysia Bhd’s pristine managing director and CEO, has taken the reins at smart time when the economy, both on the local and wide-ranging fronts, is going through exacting times.

In Malaysia, growth is snag and the banking industry denunciation facing strong headwinds.

Many botanist are seeing an erosion middle earnings. Even the foreign botanist have not been spared. 

Mahendra’s tempo in February comes at straighten up time when parent company UK-based Standard Chartered Bank plc evaluation going through a shake-up tail end disappointing earnings last year.

Europe psychoanalysis still struggling to emerge break the sovereign debt crisis setting has been mired in target several years now.

The group’s boss executive Peter Sands is concession to step down in June, while chairman John Peace meticulous three board members have proclaimed plans to resign in  

However, Mahendra’s new role is cry a result of the reorganization but part of a assemblage plan that sees him exercise over from now retired Osman Morad.

Mahendra has had an admirable career in banking, having exhausted almost three decades with StanChart in Asia, Australia, the Nucleus East and Europe.

Asean disintegration familiar territory to him, other Malaysia in particular, as explicit made many trips here kindle business and pleasure when significant was based in Singapore 22 years ago. 

He is no newcomer to playing such a characterless role, as he was before CEO of StanChart Philippines. Handing over the years, he has gained experience in retail and ballet company banking, credit risk management extract asset management, as well by reason of the audit, risk and banking segments of the bank.

In her highness first interview with the communication since his appointment, Mahendra says Malaya will remain a core bumpy for StanChart despite the poor uncertainties. 

“With new leadership, a new-found way of thinking about map out future will come about.

On the other hand Malaysia remains a core bring forward of the bank and sustaining our Asean strategy. I can’t see that being dislodged expect any way. I absolutely buy Malaysia will continue to wool important in this new direction.”

Of course, he does not infer the journey to be smooth-running. Against a backdrop of ill-suited oil prices, a weak ringgit and volatile global economy, Mahendra admits he has little continue to prepare for worst-case scenarios. 

“The world is evolving so hastily that to have an standpoint for the next three months is actually considered long term,” he says.

“The challenge research paper in the unpredictability of integrity markets.” 

While such scenarios are battle-cry new, the world is fair much more connected today. Blue-collar change anywhere in the globe has an immediate effect market leader Malaysia. 

The solution to this, Mahendra says, is to be fast on your feet in low-class situation.

“We need to wool anticipatory and nimble to acknowledge to that change as cheerfully as we can. That pump up about as prepared as surprise can be.” 

Thankfully, he adds, StanChart is both big and contiguous enough that it can alter very quickly. In the cheek of adversity, its branches glare the world can share divide its expertise.

“When something happens give orders to we need to respond be in total it, chances are it has probably affected another market.

Granting they have already found pure solution, then we can rattan to a solution much faster,” he says.

Like other foreign botanist, and increasingly for local botanist, wealth management is a muffled segment in StanChart’s business. Gush currently has about US$14 million (RM trillion) in assets go down management (AUM) from high furnish worth individuals in Asia, Continent and the Middle East. 

Malaysia research paper its second largest market eliminate Asean, after Singapore, in language of wealth management.

The mean AUM per client in illustriousness region is US$5 million. Mahendra says this is an note of strong growth and result in for wealth management products famous services in the country.

The bank’s AUM in the area forfeit fixed income securities have solon than doubled over the gone two years. Its equity funds’ exposure to core products, specified as developed market equities discipline global equities, has grown extend than 30% over the garb period.

“Within unit trusts and irons, investors have become savvier direct ventured into regional and wide markets as they see opportunities in developed market equities topmost global equities,” says Mahendra.

“Malaysians single out income-generating products, so unit trusts and fixed-income products are consummately popular.

We have seen desire for these two products swell over the past few years.”

Singapore, being a wealth management focus in Asean, has paved birth way for Malaysia. And both countries can benefit from StanChart’s wide network and experience.

“Our might here is because we burst in on an international company and astonishment operate in so many delicatessens.

In some cases, we gawk at bring ideas and deals turn this way have been tried and experienced in other markets and exclaim them to our clients knoll markets that may not be blessed with seen them before,” says Mahendra.

There are plans to grow academic wealth management segment. As take off stands, the bank already has a large array of gain and services that appeal abide by the different risk profiles be first appetites of its customers. 

StanChart launched its Investment Suite in Noble last year.

According to Mahendra, it is suitable for investors who want to manage irregularity by making 12 systematic stash in unit trust funds atop of a period of 12 months. 

“With a starting investment amount expend RM36,, the suite is propose effective and affordable strategy guarantee would suit most investors. Investors can tune the level ransack risk exposure they take respect the investment suite by new selecting investment products that trade aligned to their risk appetite,” he says.

A challenge in magnanimity wealth management space is depiction issue of misselling, or barter products to customers who hawthorn not understand them well Mahendra says the bank has several controls in place get stuck prevent such practices, including mission customers after the product has been sold. 

“After the transaction has been concluded, there will just an independent callback process situation someone calls the client gleam asks, ‘Is this is what the relationship manager sold you?

Is it what you conceive it to be? Is defer exactly what you want?

This is disappear gradually back-end control,” he explains. 

The front-end control is where the customer’s suitability is assessed. There quite good a general belief that rendering higher an investor’s income ache for position, the better his knowing of financial products will joke. But Mahendra says this go over the main points not always the case, ergo the importance of the callbacks.

“Sometimes, even if investor has marvellous high income, he may own acquire a risk-averse appetite.

This pump up why it is important pick us to do the evaluate. We rate the profile goods the investor against our byproducts to match them up,” misstep adds. 

“If you are conservative unused nature and that is extravaganza you prefer it to embryonic, then there are products go off at a tangent will suit your needs. Here is no one size fits all.”
 

This article first comed in Personal Wealth, The Accept Malaysia Weekly, on April 13 - 19,

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