Indian Banker, Rana Talwar, First to Lead Global Bank, Passes Away at 76

New Delhi: Renowned banker Rana Talwar, a groundbreaking individual who achieved the distinction of being the Indian to head a global bank Standard Chartered Plc has sadly passed away at the age of 76. The news of his demise was confirmed by family sources on Saturday. Talwar, who was also the son in law of K P Singh, the chairman emeritus of DLF Group is survived by his wife Renuka and son Rahul.

Apart from his association with DLF Talwar held positions on the boards of companies such as Asahi India Glass Limited and Great Eastern Energy Corporation Limited.

DLF received communication from the family about the non executive directors passing on Saturday, January 27th 2024. This information was disclosed in a filing made by DLF.

Born in 1948 Rana Talwar began his banking career in India with Citi Bank after graduating from Delhis St. Stephens College. During his tenure at Citi Bank he played a role in expanding their retail operations across Asia Pacific and Middle East regions. On he took charge of all retail businesses across Europe and the United States.

In 1996 Talwar created history by assuming the role of Global Chief Executive, at Standard Chartered Plc. He became not the first Asian to lead an FTSE 25 company but also a significant global bank.
He successfully transformed Standard Chartered Plc into a known bank in emerging markets by overseeing the acquisition of Grindlays Bank from ANZ Bank.

After leaving Standard Chartered Plc in 2002 Talwar established Sabre Capital Worldwide, an equity firm, where he served as the founder chairman and held a majority stake. Notably one of Sabre Capitals deals in India was acquiring a strategic stake in Centurion Bank, which later merged with HDFC Bank.

DLF expressed gratitude for Talwars contributions to the company through a regulatory filing and acknowledged the profound impact of his guidance and vision, on the board.

DLF described Talwars passing as an " loss" and extended deep sympathy, sorrow and condolences to his family while emphasizing the significant legacy he leaves behind in the banking and financial sectors.