Standard Chartered Plc. has seen several senior executive departures from its Indian operations as the lender reorganizes its wealth business and shifts away from mass-market retail banking.Saurabh Jain, the head of Standard Chartered India’s wealth management and affluent client segments, is leaving the bank by the end of this week and will join Bandhan AMC Ltd. as chief business officer on Aug. 3, according to people familiar with the matter.Jain, who re-joined Standard Chartered in 2019 after spending just over a year in HDFC Bank Ltd., led the UK lender’s wealth arm and its GIFT City strategy - the initiative related to the finance hub Gujarat International Finance Tec-City. Jain also spearheaded the bank’s push into the affluent client segment.Nitin Chengappa, the head of affluent distribution and branch network, left Standard Chartered in April, after serving at the bank since December 2016, said the people, asking to not be identified discussing private information.Another senior executive, Pankaj Walia, who led Standard Chartered’s private banking unit, left late last year, the people said.Standard Chartered has not yet found a replacement for Chengappa and Walia, the people said. Amit Mamgain, who reported to Jain, and is currently the head of investment strategy and wealth sales, will take over his role, these people said.Bandhan AMC, led by ex-Standard Chartered banker Vishal Kapoor, is backed by Bandhan Bank, Singapore’s GIC and private equity firm ChrysCapital Management and has over $20 billion of assets under management. The firm also offers alternative investment funds and portfolio management services.Jain, Chengappa and Walia didn’t immediately respond to messages on their LinkedIn accounts. Standard Chartered confirmed Jain’s exit and said the bank was committed to grow their small and medium enterprise business alongside wealth and retail banking segments.Bandhan AMC’s CEO Kapoor said as the “business continues to grow, we are strengthening our organization by investing in talent, technology and distribution capabilities.”The departures come as Standard Chartered sharpens its focus on building out its wealth business by tapping the rising affluent class in India. As part of that push, the bank sold off its personal loans portfolio to Kotak Mahindra Bank Ltd. in 2024. It also agreed to sell part of its India credit card business to Blackstone Inc.-backed Federal Bank Ltd. earlier this year.In 2024, Standard Chartered executives estimated there were about 750,000 potential clients with a revenue pool of over $300 billion, and said the bank hopes to capture a share of that. The bank is also expanding into smaller towns and pursuing owners of small and medium enterprises as clients, they said.