Prahlad Shantigram the global head – mergers & acquisitions for Standard Chartered is reported to have quit. Prahlad operated out of Singapore and is credited to have successfully lead the investment banking operations for the bank. He is credited to have lead the banks initiative to facilitate the approx. $ 10 billion – Bharti’s acquisition of Zain Africa. His other notable contributions would be – Vedanta’s acquisition of Cairn Energy and Aircel’s sale of tower assets to GTL Infrastructure.
His exit has been confirmed by the bank , however his next move is not known. Though there are no confirmations on his reasons for exit, the same has been attributed by some to the restructuring and organizational realignment that has been happening in the company for some time now. Earlier in August 2012 – Mark Dowie, former UBS Head for Asia business had joined Standard Chartered as Head of Corporate Finance business and since then the M & A department was reporting to him. This is perceived as one of the possible triggers that could have lead to the separation.
Prahalad is a mechanical engineer from VJTI , and an IIM A graduate. He has been with Standard Charted since 2003, and was previously associated with DSP Financial – & DSP Merrill Lynch. An earlier report in Feb 2012 – Manisha Girotra joining Standard Chartered had hinted at ex UBS India Head joining Standard Chartered to head its investment banking business. The exit of Prahlad may seen to hint at the possibility of Manisha Girotra getting into the role. Though as per some reports – the same has not been confirmed by the bank however Manisha Girotra has categorically denied her joining Standard Chartered.