StanChart Faces Fresh Heat In Indonesia; Names New Malaysia CEO

Josh O'Neill

11 October 2017

, the Malaysian state-owned investment fund that allegedly had billions of dollars siphoned from it, according to global authorities. The regulator levied heavy fines and seized more than $175 million of assets that were allegedly acquired with dirty money. Four former bankers have been jailed in Singapore in relation to the 1MDB affair.

New Malaysia CEO

Earlier this week, Standard Chartered said it had named Abrar Anwar as managing director and chief executive of its Malaysian operation, succeeding Mahendra Gursahani next month, who is leaving the group “to take on another opportunity".

Anwar joined the bank's Bangladesh unit in early 2011 and led the corporate client coverage business until 2014. The following year, he was made CEO of the Bangladesh bank. He has 26 years' experience in corporate and investment banking across Bangladesh, India and the UK.

“Abrar is an excellent candidate to helm the bank’s business in Malaysia. His leadership skills, deep industry knowledge, and great rapport with clients will help to drive our business strategy and performance in Malaysia,” Anna Marrs, Standard Chartered regional CEO for ASEAN and South Asia, said. “We would like to thank Mahendra for his significant contribution to the bank and we wish him well for his future endeavours.”