The Royal Bank of Scotland (RBS) has appointed Madan Menon as country executive for Singapore, replacing Muhammad Aurangzeb who resigned last year. Menon took up his new position on January 10, but will retain his existing, wide-ranging responsibilities as head of global banking and markets (GBM) for India and head of global banking for Southeast Asia.
Menon has relocated to Singapore, which is one of six global trading hubs for RBS as well as its regional centre for fixed-income, currencies and commodities (FICC) trading and sales, credit risk management, and global transaction services. In addition, Singapore is the base of the UK bank’s Asia Operations Centre, which provides infrastructure support globally.
His new role is an important one for RBS as it builds up its wholesale and investment banking franchise across India and Southeast Asia. There are no plans for Menon to give up any of his current duties, so his plate is likely to be a full one in the years ahead.
He leads a team of about 1,200 in Singapore and 180 in India under the global banking and markets division.
Commenting on the appointment, John McCormick, Asia-Pacific chairman for RBS, said: “Singapore is a key hub in RBS for serving clients across Southeast Asia and around the globe. [Menon’s] new responsibilities demonstrate our appetite for capturing and capitalising on the tremendous intra-regional business opportunities across Asia.”
Menon will report to McCormick and to Matthew Kirkby, global head of corporate finance and head of global banking for Asia-Pacific.
Menon joined RBS in 2007 as head of GBM India, moving across from Barclays Capital where he was co-chief executive for India. Before that, he was head of corporate banking for the eastern region at American Express Bank, India where he started his banking career in 1989.
Menon’s professional experience covers both debt and equity capital markets, corporate banking, mergers and acquisitions, foreign exchange and fixed-income trading.
RBS has been present in Singapore for around 150 years and is active in wholesale and investment banking.
