Having struggled for over a year to fill the position, JP Morgan has revealed that former engineer Gourang Shah will take up the reins as head of its treasury advisory business.
Shah previously spent six years at Citi Bank, latterly as a managing director and head of treasury advisory for treasury and trade solutions. He began his career in engineering but later rose to the position of assistant treasurer at Tyco Electronics.
His role at JP Morgan will be based in Singapore, reporting to Dianne Challenor. He succeeds Victor Penna, who last year was recruited by Standard Chartered to create their own treasury advisory business.
Citi has not yet said whether Shah’s replacement has been found – but, it seems, with such a small pool of suitable candidates available, they may be searching for some time.
After winning the German presidency for her fourth term, Angela Merkel must weld a coalition government or have a minority rule with the most far-right politicians seen in 50 decades.
A study of the leadership pipeline at the UK’s FTSE 100 corporates shows modest progress, but many top companies still have no ethnic minority presence.
The world’s third-largest economy expanded by 1.0% in the second quarter of 2017 over Q1, giving an annual rise of 4.0% in gross domestic product for the year to June.
The majority of the region’s 28 member states report that the situation has worsened over the past year, reports business management consultant Verisk Maplecroft.