Zarin Daruwala is the new CEO of Standard Chartered’s mega India operations. She quit ICICI Bank as its head of corporate banking to take charge of this role. Standard Chartered, which generates most of its income from Asia, has seen its expansion in emerging markets like India lead to a surge in bad debts. Her task is well cut out and a challenging one that promises to keep her in the spotlight. [Image Credit: Business Today]
At ICICI, Zarin was responsible for maintaining the Bank’s relationship with top promoters of corporate India. She won various accolades and awards including the CA Business Achiever award by the Institute of Chartered Accountants of India and in the past she has been featured in the Business Today list of 30 most powerful women in Indian business.
Daruwala has been quoted saying being a woman doesn’t come with specific challenges, instead it has benefits at the work place. She has been known to have a go-getter attitude. Her story at ICICI is well regarded as Daruwala is known go out there to get clients rather than waiting for them to knock at her door. She was mentored by Lalita Gupte, one of the early female leaders at ICICI.
As Zarin Daruwala leaves, Vishakha Mulye will take over as head of ICICI’s corporate banking, people with direct knowledge of the matter said, asking not to be identified before a public announcement.
ICICI Bank’s board yesterday appointed Mulye, who was the CEO of ICICI Venture Funds Management Co. as an executive director of the bank, according to an exchange filing.
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