He was ill for some time, sources said. His wife survives him Renuka (daughter of DLF Group Chairman Emeritus KP Singh) and her son Rahul (who is also involved with DLF). His last rites will be performed at Lodhi crematorium on Sunday, company sources said.
Talwar, an alumnus of St Stephens College, Delhi, began his career with Citibank in India in 1969. He played a pivotal role in transforming Citi’s consumer banking business into a leading franchise in the 1990s.
He quickly rose through the ranks, leading Citi’s retail businesses in Asia-Pacific, the Middle East and then Europe and North America. He then joined Chartered Standard bank in the summer of 1997, where he took over as CEO after a few months.
Talwar led Standard Chartered bank through transformative years after the Asian currency crisis. As CEO, he orchestrated major acquisitions for Standard Chartered, including the integration of USBtrade finance business, ANZ’s Grindlays Bank in India and the Middle East, and Chase Manhattan’s credit card business in Hong Kong.
A firm believer in Asia’s economic resilience, Talwar overcame the challenges posed by the 1997 Asian currency crisis, strengthening Standard Chartered’s position in Asia. After his tenure at Standard Chartered, he founded the private equity fund Saber Capital, named after him (Sabre is the English word for Talwar). One of Saber Capital’s biggest deals in India was the acquisition of a strategic stake in Centurion Bank. Talwar was later instrumental in its merger with HDFC Bank.
He also served on the board of directors of DLF, where he joined the property company in 2006. In a regulatory filing, DLF said: It regrets to report the sad demise of the non-executive director. Gurvirendra Singh Talwar (Rana Talwar) on Saturday, that the family members intimated the company.