ABN Amro India chief to contest LS poll

21 March 2009

In what is undoubtedly the first such instance, Meera Sanyal, executive vice-president and country head of ABN Amro Bank NA's Indian operations, has decided to take time off from her job to contest the Lok Sabha elections.

A company spokesperson said Sanyal, who will contest as an independent candidate, has taken leave till 15 May.

"I have decided to contest the forthcoming Lok Sabha elections from South Mumbai. I have been associated with community development programmes and policy reforms for a long time now and feel that I can bring about some positive changes in our system by participating in the election," Sanyal told  news agency PTI.

Sanyal has taken leave at a time when the Royal Bank of Scotland Plc is in the process of wholly taking over ABN Amro's Asian operations. The bank is selling its retail and small and medium enterprise banking unit in India and seven other Asian countries.

A spokesperson for the Royal Bank of Scotland said the bank would announce the interim management arrangement early next week. Madan Menon, managing director and country head in charge of wholesale, corporate and investment banking, is widely tipped to be acting CEO in Sanyal's absence.

Sanyal promised that a draft master plan for Mumbai city and a five-point agenda for development would be placed before the electorate within the next 48 hours. "My campaign will be focussed on Mumbai," she added.