Probably being a politician is a better idea, than being a banker in these times. The Indian chief of ABN Amro Bank (Royal Bank of Scotland took over ABN’s assets globally including India) will contest in the upcoming Lok Sabha elections from Mumbai.
ABN Amro Bank NA Executive Vice President and country head Meera Sanyal will be contesting the Lok Sabha elections from the Mumbai South constituency. Sanyal grew up in this constituency, and also currently lives here. She has taken a leave from the bank till May 15 to prepare and contest the elections.
Unlike many other high profile contestants in the Lok Sabha elections, Sanyal has not joined any party and will instead contest as an independent candidate. Milind Deora of the Congress and Mohan Rawle of the Shiv Sena will be pitted against Meera Sanyal.
According to Sanyal, last year’s 26/11 Mumbai attacks disturbed her and compelled her to join politics and work for the betterment of the society. If she wins, she plans to quit her job and work full time for the society. To avoid any potential conflict of interests, she will fight the elections with her own money. She has also decided against accepting campaign contributions and will stay away from media advertisement and posters. Her website is expected to be launched in the next 48 hours.
She would focus on the city’s infrastructure, particularly public transport and stronger security setup. She will also aim at improving the standard of living of slum dwellers and including them in the city’s overall development.
Madan Menon, managing director and country head, in charge of wholesale, corporate and investment banking, is likely to act as the interim CEO and look after Sanyal’s portfolio in her absence till May 15.
The Bank will announce the interim management arrangement early next week. Royal Bank of Scotland (RBS), which operates in India under the ABN Amro branck is selling its retail and SME banking units in India and 7 other Asian countries.