The personnel moves at Standard Chartered Plc have not abated, as Chief Executive Mohsin Nathani has resigned from the bank’s business in the United Arab Emirates (UAE), according to a recent Bloomberg report.
Just last week, Standard Chartered announced a series of moves across a number of its business operations – in particular, the group named two new group heads, including Jonathan Paul as its Group Head, Financial Markets and Sumit Dayal as Group Head, Corporate Finance.
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The Standard Chartered personnel exodus has continued for the past two years, during which its share price has taken a 39% tumble. Its beleaguered CEO Peter Sands is also slated to step down this summer.
Mr. Nathani originally joined Standard Chartered back in 2010 as its chief executive of Pakistan. Despite relinquishing his post, he will remain at the bank during his notice period to ensure a smooth transition to a successor, who has yet to be named.
He ascended to the role of chief executive at Standard Chartered’s Dubai office only in in February 2014. Mr. Nathani is reportedly leaving to spend more time with his family.