SMBC hires Singapore MD from Standard Chartered
Sumitomo Mitsui Banking Corporation (SMBC) has recruited another senior executive in Singapore as it continues to focus its business strategy on the Asia Pacific region. Standard Chartered veteran Anand Mahadevan has joined the bank as a managing director, risk management for Asia Pacific.
Mahadevan was at Standard Chartered for 15 years, holding several senior roles in Singapore, Malaysia, Indonesia and South Africa. He was most recently the firm’s chief risk officer, Indonesia and ASEAN markets, according to his LinkedIn profile.
Mahadevan is not the only senior hire SMBC has made in Singapore of late. As we reported last month, Jeng-Ming Hwang moved to the Japanese bank from OCBC as a director, specialising in project finance and acquisition finance transactions, with a sustainability focus.
Hwang’s and Mahadevan’s APAC remits reflect the fact that SMBC wants to build its APAC (ex-Japan) business and is using Singapore as its main regional hub rather than Hong Kong.
In April, SMBC named Yuichi Nishimura and Rajeev Kannan as managing executive officers and co-heads of the Asia Pacific division at SMBC. They are both based in Singapore and are focusing on delivering SMBC’s “Asia-centric strategic growth plan”, according to a statement from the bank at the time.
That same month, SMBC transferred Tomofumi Watanabe from Tokyo to Singapore as co-head of APAC structured finance.
Photo by Wayne Chan on Unsplash
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