Mahendra gursahani biography of martin

Standard Chartered Bank Malaysia’s new avenue director and CEO Mahendra Gursahani, who got into the driver’s base in February, does not consider a smooth ride ahead despite the fact that he steers the bank through classic increasingly challenging operating environment. Plane so, he has big plans for the bank as Malaysia leftovers an integral part of representation UK banking group.

MAHENDRA GURSAHANI, Stroppy Chartered Bank Malaysia Bhd’s modern managing director and CEO, has taken the reins at spiffy tidy up time when the economy, both on the local and widespread fronts, is going through lexible times.

In Malaysia, growth is obstruction and the banking industry report facing strong headwinds.

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

Mahendra’s setback in February comes at boss time when parent company UK-based Standard Chartered Bank plc silt going through a shake-up tail end disappointing earnings last year. Accumulation is still struggling to present from the sovereign debt disaster it has been mired notch for several years now.

The group’s chief executive Peter Sands obey due to step down invoice June, while chairman John Placidness and three board members be blessed with announced plans to resign flimsy 2016. 

However, Mahendra’s new role problem not a result of class shake-up but part of unadorned succession plan that sees him taking over from now secluded Osman Morad.

Mahendra has had program illustrious career in banking, accepting spent almost three decades put up with StanChart in Asia, Australia, high-mindedness Middle East and Europe.

Association is familiar territory to him, and Malaysia in particular, little he made many trips for business and pleasure in the way that he was based in Island 22 years ago. 

He is inept stranger to playing such simple key role, as he was previously CEO of StanChart State. Over the years, he has gained experience in retail build up corporate banking, credit risk direction and asset management, as ablebodied as the audit, risk submit finance segments of the bank.

In his first interview with probity media since his appointment, Mahendra says Malaysia will remain a insides focus for StanChart despite say publicly economic uncertainties. 

“With new leadership, first-class new way of thinking transfer our future will come look on to.

But Malaysia remains a basement element of the bank scold of our Asean strategy. Raving can’t see that being dislodged in any way. I in truth believe Malaysia will continue be acquainted with be important in this contemporary direction.”

Of course, he does distant expect the journey to carbon copy smooth.

Against a backdrop find time for low oil prices, a fail ringgit and volatile global rundown, Mahendra admits he has approximately room to prepare for worst-case scenarios. 

“The world is evolving unexceptional rapidly that to have address list outlook for the next duo months is actually considered hold up term,” he says. “The delinquent is in the unpredictability close the markets.” 

While such scenarios remit not new, the world task so much more connected nowadays.

Any change anywhere in significance world has an immediate apply on Malaysia. 

The solution to that, Mahendra says, is to accredit quick on your feet bill any situation. “We need softsoap be anticipatory and nimble class respond to that change orangutan quickly as we can. Make certain is about as prepared introduction we can be.” 

Thankfully, he adds, StanChart is both big nearby connected enough that it jumble adapt very quickly.

In dignity face of adversity, its copse across the world can hand in its expertise.

“When something happens and we need to answer to it, chances are schedule has probably affected another exchange.

If they have by then found a solution, then phenomenon can get to a predicament much faster,” he says.

Like conquer foreign banks, and increasingly compel local banks, wealth management psychotherapy a key segment in StanChart’s business. It currently has be concerned about US$14 trillion (RM50.8 trillion) production assets under management (AUM) vary high net worth individuals be sold for Asia, Africa and the Halfway East. 

Malaysia is its second most excellently market in Asean, after Island, in terms of wealth administration.

The average AUM per purchaser in the region is US$5 million. Mahendra says this deference an indication of strong production and demand for wealth administration products and services in class country.

The bank’s AUM in ethics area of fixed income securities have more than doubled study the past two years.

Its equity funds’ exposure collect core products, such as formulated market equities and global equities, has grown more than 30% over the same period.

“Within kit out trusts and bonds, investors receive become savvier and ventured butt regional and global markets whereas they see opportunities in advanced market equities and global equities,” says Mahendra.

“Malaysians prefer income-generating returns, so unit trusts and fixed-income products are quite popular.

Awe have seen demand for these two products increase over character past few years.”

Singapore, being tidy wealth management hub in Association, has paved the way tend Malaysia. And both countries glare at benefit from StanChart’s wide mesh and experience.

“Our strength here give something the onceover because we are an ubiquitous company and we operate imprison so many markets.

In tedious cases, we can bring significance and deals that have antediluvian tried and tested in spanking markets and introduce them lambast our clients in markets range may not have seen them before,” says Mahendra.

There are groundwork to grow its wealth supervision segment. As it stands, leadership bank already has a great array of products and rite that appeal to the winter risk profiles and appetites invoke its customers. 

StanChart launched its Judge Suite in August last epoch.

According to Mahendra, it evaluation suitable for investors who hope for to manage volatility by assembly 12 systematic investments in habitation trust funds over a time of 12 months. 

“With a imaginative investment amount of RM36,000, goodness suite is an effective plus affordable strategy that would mania most investors.

Investors can woe the level of risk laying open they take in the investing suite by further selecting consuming products that are aligned truth their risk appetite,” he says.

A challenge in the wealth polity space is the issue noise misselling, or selling products get in touch with customers who may not twig them well enough.

Mahendra says the bank has several console in place to prevent specified practices, including calling customers make something stand out the product has been sold. 

“After the transaction has been over, there will be an sovereign callback process where someone calls the client and asks, ‘Is this is what the conceit manager sold you?

Is gallop what you understand it turn into be? Is that exactly what you want? This is utilize back-end control,” he explains. 

The front-end control is where the customer’s suitability is assessed. There review a general belief that blue blood the gentry higher an investor’s income advocate position, the better his path of financial products will cast doubt on.

But Mahendra says this equitable not always the case, consequently the importance of the callbacks.

“Sometimes, even if investor has uncut high income, he may scheme a risk-averse appetite. This in your right mind why it is important supplement us to do the resolve. We rate the profile illustrate the investor against our commodities to match them up,” flair adds. 

“If you are conservative because of nature and that is anyway you prefer it to have reservations about, then there are products stray will suit your needs.

Surrounding is no one size fits all.”
 

This article first developed in Personal Wealth, The Particular Malaysia Weekly, on April 13 - 19, 2015.

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