Mohanty will be replacing Anurag Adlakha who will step down as the bank’s CFO later this month.
He joined the UK based lender in May 2014 as CFO for retail & products and went on to be CFO of retail banking segments, reported The Economic Times.
Prior to joining Standard Chartered Bank, Mohanty has worked with JP Morgan and American Express prior. He holds a bachelor’s degree in engineering from the Indian Institute of Technology and an MBA from the Indian Institute of Management, Ahmedabad.
Reportedly, the bank’s losses in India shrunk to $24 million in 2016 from $551 million in 2015 mainly as provisions on bad loans fell to $414 million from $945 million in 2015.