MUMBAI: The head of consumer banking (India) at Standard Chartered Bank, Kusal Roy, has tendered his resignation and is expected to join Jio Financial Services. The development comes amid Jio Financial Services’ recent announcement of forthcoming consumer-focused initiatives to be launched soon.
Roy, who assumed his role at StanChart Bank in 2020 after leading Tata Capital, has been a career banker. He was earlier with ICICI Bank and Citibank. StanChart confrmed Roy’s exit in response to an emailed query. The announcement of Roy’s departure coincides with the unveiling of a slew of initiatives by Jio Financial Services, as revealed by its MD & CEO Hitesh Sethia, following the company’s recent financial results published on April 19.
“Jio Finance, our NBFC, is well positioned to capture the lending market opportunity by adopting a digital-first business model to cater to consumers and businesses,” Sethia said. JFS has announced its foray into mutual funds and wealth management in partnership with Blackrock.
