A Q&A with Manindra Shrestha, regional head of resourcing, Middle East, Pakistan & Africa at Standard Chartered

Because of its emerging markets focus, it’s not hugely surprising that Standard Chartered has continued to recruit throughout 2010 while most international banks cooled their hiring plans.

In the last three months alone, the bank has named Apoorva Shah managing director within its M&A team, recruited a team of people for FICC trading and added Ragnar Meitern, Feras Darwish and Karine Zakhour to its MENA investment banking division.

At the (very) senior end, earlier this year Standard Chartered announced the appointment of V. Shankar as CEO, Middle East, Africa and the Americas. Based out of Dubai, he is the bank’s most senior ever hire in the Gulf, and – according to group CEO Peter Sands – represented its “commitment to region”.

Manindra-Shrestha

We spoke to Manindra Shrestha, regional head of resourcing, Middle East, Pakistan & Africa at Standard Chartered (above) about the bank’s recruiting plans for the future and what it looks for in potential new recruits.

Manindra has also agreed to respond to some of your questions from 22-25 November. If you’d like to ask something, please post below. Only answered questions will be made live.

QUESTIONS ARE NOW CLOSED

Standard Chartered has recruited senior executives within a range of areas this year – M&A, private equity, wholesale banking, private banking and FICC trading. Are these areas you intend to expand in the region?

Yes, we are looking to fortify our presence and boost our business in the Middle East region by focusing on key hires. The bank has been consistently delivering strong performance in the various wholesale banking practices, and we are investing in our human resources in line with this growth. We have already made key hires in M&A, Private Equity and FICC and are looking to further fortify our wholesale banking teams.

Does this recruitment extend to the more junior ranks? If so, which particular divisions to you envisage building going forward?

Previously, the majority of the vacancies have been for middle and senior management. However, strengthening the teams at all levels is key to building strong structures. Going forward, we are looking to continue to build the private banking team and we will be looking at hiring more relationship managers with wealth management experience.

Are there any skills that you look for within wholesale banking roles that you think are unique to the Middle East?

What we look for is more than just technical skills, given that this part of the world is a melting pot of cultures, those who perform best are those who are open, tolerate and accepting of other cultures.

The region has typically relied on international talent, but do you believe it has become harder to attract people to the Middle East? Do you think this is changing?

It is much easier to attract people to work in the UAE compared to other countries in the region. Expats find it much easier to relocate and adjust with their families in the UAE. However, in light of the global economic uncertainties globally, potential candidates have become more cautious, and are no longer willing to relocate without fully considering all aspects of a new role, as well as the wider social, economic and cultural impacts of such a move.

What’s the biggest challenge recruiting for wholesale banking in the Middle East?

Overall, the challenge is finding that unique balance between sales (‘sales-led’) and relationship management (‘relationship building’). As an international bank with a strong presence in emerging markets, Standard Chartered is looking to blend the two traits into a well-rounded candidate – a commercial oriented business person who is able to fully understand the needs and aspirations of their clients.

What’s your favourite interview question?

What has been your biggest achievement to date and what is the biggest professional obstacle you have had to overcome to get to where you are today?

Are there any common mistakes candidates make during interview?

Overselling themselves and over-confidence are two of the most common mistakes that candidates make during interviews.

What’s the most common reason you would reject someone?

We would reject a person who clearly wouldn’t fit with the Standard Chartered culture. Some examples of what we look for include being self-motivated but a team player, customer centricity and having people focus. In a nutshell, it’s not just about what we do but how we do it.

Are there any traits a candidate can exhibit that make them attractive to Standard Chartered?

The candidate’s traits should be in line with Standard Chartered’s values and culture. Being responsive, culturally open, trustworthy and creative are some of the key traits and values that the candidate should demonstrate during the recruitment process.

Readers’ questions:

1) Do you believe that most banks are viewing the Middle East as a growth market again? If so, do you think 2011 will be better for job opportunities…?

Manindra Shrestha: The Middle East is certainly viewed as a growth market for the banking industry. Standard Chartered lauds the economic recovery being witnessed by the UAE in general and Dubai in particular. The good reputation of Dubai financial, economic and service institutions worldwide puts it in a strong position for sustained growth amidst market challenges. Banks will continue to hire to meet expected growth.

2) I’m looking to move to Dubai from Australia, where I’ve been working in a private banking relationship manager role for three years. Considering my lack of exposure to the region, what are my chances?

Manindra Shrestha: As you are probably aware, Private Banking is a very international field; even when clients are themselves based in one particular location, it is not unusual for their assets to be located all around the world.

Across the globe we have many clients who are attracted to us because of our strong product offering and our in-depth understanding of the growing markets of Asia, Africa and the Middle East.

We are structured to a certain extent upon geographic and regional lines; so for example the majority of Relationship Managers in MENA are focusing on clients in the same region. If a Relationship Manager is servicing clients predominantly in Europe or Asia, it might make more sense to base the candidate there in order to leverage off the wealth of knowledge, products and talent that we have at our disposal.

Having said that however, Standard Chartered welcomes applications from all good candidates, regardless of background, location or experience. Our Private Banking business in particular, is optimistic about future prospects and is intending to grow the number of Relationship Managers over the coming years. If a candidate has strong technical knowledge of Relationship Management, coupled with a willingness to embrace the culture and learn, then there should be no obstacles.

3) I am CFA student from Bahrain. I am pretty much concerned about my career prospects in Banking sector as I have applied to many places but here the same answer that there is no more hiring, so in that regard I have a question. Seeing the eminent current situation with the global financial crisis and a cut down in hiring investment professionals all over the world is there any capacity for CFA trainees in Standard Chartered? If so then how would that be and what do you suggest I should probably do?

Manindra Shrestha: Standard Chartered’s aim is to be the world’s best International bank with an extensive global network to service clients on their cross-border and domestic banking needs. To support this ambition, we do hire high caliber graduates who can think and operate on an international not just a local basis through the International Graduate Programme.

We’re looking for the best and the brightest talent in the market to join one of business functions as part of our two-year programme. Our International Graduate Programme offers a unique opportunity for new graduates, who start a series of rotations working with diverse teams and on projects that involve interaction with colleagues overseas.

In fact, we also support them complete various professional qualifications, whether it be the CFA, CIPD, the ACCA or the CISA. For our 2011 intake we are recruiting for over 29 countries (subject to conditions) in the following business functions viz. Wholesale Banking, Consumer Banking, Human Resources, Finance, Corporate Real Estate Services and Group Internal Audit. Alternatively, there are direct entry roles opening from time to time where the CFA qualification might be a value add (like Finance and Wholesale banking).

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