Zarin Daruwala, the executive officer of Standard Chartered Plc for Indian and Southeast Asia after eight-year tenure, is set to retire on April 1. She will officially retire on April 1, 2025. Her successor will be revealed at a later time, as per the Bank’s release.

Zarin Daruwala took on the role of India CEO at Standard Chartered in 2016. During her leadership, India grew into one of the Group’s biggest markets with a strong focus on cross-border solutions in Corporate & Investment Banking (CIB) and wealth management in Retail Banking (WRB). She also strengthened the bank’s risk and compliance culture.

The UK-based lender is currently undergoing a management reshuffle and restructuring some of its divisions. In India, where it is focusing on capturing a larger share of the country’s growing wealth the bank has seen the departure of several key executives.

The bank is streamlining its corporate and investment banking division by reducing regional management layers to improve decision-making and boost accountability for performance. In April, Singapore-based Sunil Kaushal was appointed co-head of corporate and investment banking, overseeing ASEAN and Asian markets.