It’s not unusual to only spend a few years working for global banks – private equity or fintech often prove irresistible. But leaving within a matter of months is still a rarity.
There are exceptions. McKinsey & Co in Singapore has just rehired veteran financial services consultant Reet Chaudhuri from Standard Chartered. He was at Stan Chart for just 10 months and it was his first role at an international bank.
Chaudhuri has joined McKinsey as a ‘senior expert’, focused on serving corporate and investment banking clients across Southeast Asia.
While Chaudhuri worked briefly for Indian bank ICICI after he graduated in the late 1990s, he spent most of the next 16 years in consultancy, starting with KPMG and Arthur Andersen, according to his online profile.
By 2007, Chaudhuri had made it to Boston Consulting Group as a project lead. The following year he moved to McKinsey as a management consultant and stayed there for more than six years before doing a 19-month stint at Oliver Wyman in Singapore.
Chaudhuri then made his short foray into a global bank. He was at Stan Chart in Singapore between July 2016 and May 2017 as a director in the central strategy team, specialising in corporate and investment banking.
McKinsey has now lured him out of this in-house strategy job, about two and a half years after he last worked for the firm.
“People from consultancies, especially top-performing senior guys, often feel too constricted working in-house for just one bank,” says a Singapore-based headhunter. “Some of them miss the flexibility that comes with consulting for different banks.”
Chaudhuri is not the only strategy expert at a bank in Singapore to have joined a consultancy recently. Jatin Khanna left his job in ‘projects strategy and delivery’ at Goldman Sachs in November to join McKinsey as a management consultant, for example.
But it is still an uncommon move. “It’s rare to join a consultancy from a bank – it’s typically the other way around,” Benjamin Quinlan, who moved from the strategy team at UBS to join Oliver Wyman and now runs his own consultancy in Hong Kong, told us previously.
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