Standard Chartered appoints Sanjeeb Chaudhuri as regional head, South Asia

Sanjeeb comes to Standard Chartered from Citibank

Standard Chartered Consumer Banking today announced it had appointed seasoned international banker Sanjeeb Chaudhuri as regional head, South Asia and as Group chief marketing officer for consumer banking.

Sanjeeb will carry out both roles from Mumbai. As regional head, South Asia, Sanjeeb will have responsibility for Standard Chartered's Consumer Banking operations in India, and the heads of consumer banking in Bangladesh, Nepal and Sri Lanka will report to him. Senior Consumer Banking marketing staff who are mostly based in Singapore, will also report to him in his capacity as Group Chief Marketing Officer.

Sanjeeb comes to Standard Chartered from Citibank, where he was most recently CEO, Retail and Commercial Banking for Central and Eastern Europe, Middle East and Africa, while also holding the role of Head Retail Banking and Chief Marketing Officer for Europe, Middle East and Africa. He was also a member of the Citi CEO Leadership Forum, the Citi Global Digital Council and the Citi Global Advertising Council.

 "Sanjeeb is an internationally experienced banker and a well respected leader with a reputation for driving change and innovation and delivering strong top line and bottom line results.  His track record of achieving and hands-on approach is exactly what we need to take our Consumer Banking transformation to the next level in South Asia and drive our brand recognition to greater heights globally," Consumer Banking CEO and Group Executive Director Steve Bertamini said.

Neeraj Swaroop, Regional Chief Executive, India and South Asia, Standard Chartered, said "We are delighted that Sanjeeb has joined us. His considerable experience will help us strengthen and grow the consumer banking business and increase brand recognition in a strategic growth market like India for the group globally."

Sanjeeb takes over the South Asia mandate from Vishu Ramachandran, who maintains his responsibilities as Regional Head Middle East, Pakistan and Africa. Sanjeeb takes on the Chief Marketing Officer role from James Galloway, who has been appointed Global Head Preferred and Personal Banking.

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NEA India appoints AP Parigi as advisor

AP Parigi has 35 years of experience spanning across several sectors, including telecommunications, media and entertainment

New Enterprise Associates India (Pvt) Ltd, a global affiliate of the $11 billion venture capital firm, has appointed AP Parigi as advisor for its operations in India.

Bala Deshpande, senior managing director, NEA India, said, "With his unique industry experience spanning 23 years in traditional economy sectors like construction, infrastructure and manufacturing and then almost two decades of pioneering leadership in new age technology-led sectors, Mr Parigi will augment the India team substantially. His experience of creating winning businesses in emerging sectors from the ground-up stage can add significant value to our company building expertise for the portfolio companies we source and help build for the NEA Investment funds."

Mr Parigi has 35 years of experience spanning across several sectors, including telecommunications, media and entertainment. He has held key positions in Associated Cement Companies Ltd (TATA Group company), Batliboi & Company Limited and later as the CEO of BPL Mobile Communications (a JV with France Telecom), Mumbai. He is credited with developing and establishing Radio Mirchi into a power brand across 32 cities and broadcasting in 10 languages. Parigi was MD and CEO of Entertainment Network India Limited (Radio Mirchi) from 2000 to 2007.

In April 2009, Mr Parigi was the first non American recipient of the Rensselaer Entrepreneur of the year Award conferred by the Severino Center for Technological Entrepreneurship in the Lally School of Management & Technology, New York. In June 2010, Mr Parigi joined the business advisory council of the Said Business School (Oxford University), UK. He is also on the advisory board of the Fordham Graduate School of Business, Fordham University, New York.

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Govt approves 16 FDI proposals worth Rs924 crore

A total of 38 FDI proposals were taken up by the Foreign Investment Promotion Board, but the board deferred a decision on 14 applications, rejected seven and recommended one for the Cabinet Committee on Economic Affairs

New Delhi: The government today cleared 16 foreign direct investment (FDI) proposals amounting to Rs923.55 crore, including those of Star News Broadcasting Ltd and L&T Finance Holdings, reports PTI.

A total of 38 FDI proposals were taken up by the Foreign Investment Promotion Board (FIPB), but the board deferred a decision on 14 applications, rejected seven and recommended one for the Cabinet Committee on Economic Affairs (CCEA), the finance ministry said in a statement.

The board gave its approval to Soma Tollways Pvt Ltd (Andhra Pradesh) for induction of foreign equity in an investing company. The proposal is likely to bring in FDI worth Rs500 crore.

L&T Finance Holdings' application for permission for pre-IPO placement of equity shares with eligible non-resident investors was also approved by the FIPB. The firm aims at FDI worth Rs400 crore.

The board also approved the Star News Broadcasting's (Touch Tele Content (I) Ltd) proposal for induction of foreign capital. It would, however, not include any fresh inflow of funds.

The other major proposals that were cleared by the FIPB include those of Global Gourmet (Gujarat), Park Controls & Communications (Bangalore) and Centum Electronics (Bangalore).

The ministry further said the board deferred a decision on applications by Indian Rotorcraft (Mumbai) for induction of foreign equity and Precision Electronics to undertake the additional activity in the defence sector.

Decisions on the proposals of BNP Paribas SA (Paris), Sightlife USA, Southern CNG Automobiles and Natixis Global Asset Management (France), among others, were also deferred.

The proposals which were rejected include those of Reynders Label Printing India (Delhi and Haryana), Anuradha Holdings (Bangalore) and AOS Holding India SAS (France).

The official statement said that two proposals-PTC India Financial Services (Delhi, Haryana) and Tata Steel-were withdrawn from the FIPB Agenda on the request of the applicants.

The proposal, which was recommended to the Cabinet Committee on Economic Affairs (CCEA) was of Cals Refineries (Delhi and Haryana) to issue equity shares in the form of GDRs against supply of refinery equipments. The proposal is likely to bring in FDI worth Rs1,425 crore.

Foreign direct investments into the country had fallen to $19.43 billion (Rs88,520 crore) in 2010-11 as against $25.83 billion (Rs12.31 lakh crore) in the previous fiscal, a decline of 25%.

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