On Monday, Sterling Bank announced that Manish Singhal had received confirmation from the Central Bank of Nigeria to join its board as a non-executive director, following his tenure as a general manager in charge of operations at State Bank of India’s international banking group.
Alongside Ankala Prasad, another Indian national, Singhal will represent the interests of the Mumbai-based public sector bank, which is the 53rd largest bank in the world, with $694.9 billion in total assets as of last April, according to S&P Global Market Intelligence. Singhal’s experience in the financial services sector spans 26 years, during which he has overseen various units including operations, information systems, and IT infrastructure policies. Sterling Bank noted that State Bank of India is the second-largest shareholder in the Nigerian lender, after Silverlake Investment Limited, which is owned by Mike Adenuga.
A full-time director and chief financial officer at SBICAP Securities Limited (the brokerage business of SBI) prior to his current role, Mr. Singhal has broad experience cutting across risk management, customer service, human resources, business development, administration, products development, and compliance.
The new director “holds a Master of Science (Mathematics) from Garhwal University and is a Certified Associate of Indian Institute of Bankers (CAIIB),” the document said. Before his current position, Manish Singhal was a full-time director and chief financial officer at SBICAP Securities Limited, the brokerage business of the State Bank of India. Singhal has extensive experience in risk management, customer service, human resources, business development, administration, product development, and compliance. The new director holds a Master of Science in Mathematics from Garhwal University and is a Certified Associate of the Indian Institute of Bankers (CAIIB), according to the document.