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An engineer-turned-banker who's a 'flexible disciplinarian'

With his booming voice and strapping build, Mr Som Subroto, 53, looks more like a nightclub bouncer than the banker he is.

Mr Som Subroto studied engineering, but chose to carve out a career in banking. Photo: Ooi Boon Keong

Mr Som Subroto studied engineering, but chose to carve out a career in banking. Photo: Ooi Boon Keong

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With his booming voice and strapping build, Mr Som Subroto, 53, looks more like a nightclub bouncer than the banker he is.

Since March last year, he has been Standard Chartered Bank’s Regional Head of Consumer Banking.

From the British bank’s office here in Singapore, Mr Subroto is responsible for the strategic development and management of its consumer-banking business in Singapore, Malaysia, Brunei, Indonesia, the Philippines, Thailand and Vietnam.

“You hear Som long before you see him. He has that kind of resounding voice which carries through the entire floor,” says the bank’s Head of Corporate Affairs, Ms Eva Ang, with a giggle.

And you would be forgiven if you, like me, thought he was Indonesian — Subroto being the name of a former Indonesian minister. Mr Subroto, born in India and now a Singaporean, incidentally serves as President Commissioner of the bank’s Indonesian subsidiary, PT Bank Permata.

GROWTH in SME SECTOR

Prior to his current role, Mr Subroto was Global Head of Small and Medium Enterprise Banking from 2009, and was based in Singapore. He has been credited with making Stanchart a leading player in the field, with growth in the bank’s SME sector at twice that of average global Gross Domestic Product.

Mr Subroto sees the SME sector as one of the most important parts of the bank’s business, as it provides the bulk of employment and is one of the main engines of growth in most countries.

“At Stanchart, unique in the banking arena, we provide a one-stop solution to SMEs (defined as firms with less then US$50 million — S$62.2 million — in revenue), combining not only their corporate needs but also the personal needs of their owners,” he says.

But Mr Subroto warns against over-exuberant lending in that sector.

“After all, they (SMEs) are riskier. There are plenty of failed enterprises,” he notes. “There is no doubt that there are challenges with SMEs. Default rates are high, but I think some of the problems can be overcome with better risk management.”

Some have criticised the impact of government policies on the SME sector, especially with regard to access to cheap labour.

But Mr Subroto notes that the Government, through agencies like SPRING Singapore and IE Singapore, has been providing SMEs with a lot of help, via subsidies and risk co-sharing. Stanchart has been a partner in these loan-financing schemes.

“I think Asian governments, overall, are supportive of SMEs and are generally aware of the important role they play in the economy,” he says.

ENGINEERING BACKGROUND

Although he has been in banking for 28 years, Mr Subroto, who has a degree in mechanical engineering, actually began working life as an engineer at an Indian manufacturing company. “I loved the job and, often, I miss it. But I wanted more and asked myself, ‘What am I going to do for the rest of my life?’”

Citibank was then recruiting and the allure of the financial sector, which provided more incentives and pecuniary rewards, proved irresistible — especially after he had completed his Masters in Business Administration at the Indian Institute of Management in Ahmedabad.

Mr Subroto worked at Citibank before joining Stanchart in 1994. Seven years later, he was Group Head of Operations, Technology and E-Commerce.

“Guess that’s where my training in engineering proved useful,” he quips.

Other appointments and postings to Dubai, Seoul and Singapore followed — including those of Regional Head of Consumer Banking (Middle East and South Asia) and Global Product Head of Credit Cards and Personal Loans.

Although his present job in consumer banking has its challenges, especially in the regulatory area, it also provides big opportunities — Mr Subroto points to the more than half a billion people his portfolio covers.

“People are not only looking for easier transaction avenues, but are expecting more products and delivery options in banking, especially in the use of mobile devices and Internet banking.”

He acknowledges that, while some government regulations can be a hindrance to innovation, they are often necessary to ensure responsible lending and banking practices.

Mr Subroto, who oversees 8,000 to 9,000 staff, confesses to being a “flexible disciplinarian”. Those who have worked for him describe him as “forthright and honest” and a “great leader and motivator”.

He is certainly not “all work and no play”. At school, he played soccer, cricket (naturally) and hockey. These days, while he spends about half his time travelling, he finds time for a round of golf or his favourite tipple with an accompanying cigar.

“It’s all about (the) quality of life and not quantity,” he philosophises. “I love my single malts and cigars, but I have yet to do the whisky trail in the Scottish highlands. I hope to do that soon.”

A member of the Singapore Island Country Club and Sentosa Golf Club, Mr Subroto indulges in the game regularly with friends.

LIFE DULL? NEVER

Mr Subroto has spent so much of his life here that, three years ago, he decided to take up Singapore citizenship. His son grew up largely outside India and has just completed his studies in Chicago. “Unfortunately, there wasn’t an international school with boarding facilities in Singapore then,” he says wistfully.

When possible, Mr Subroto spends time at home cooking for his wife, whom he met while doing his MBA and who once worked for advertising firm JWT, and friends.

“I love cooking. I love food — good French, Italian, Thai and Bengali,” he says, his figure a visual testimony.

In fact, Mr Subroto loves food so much that he declares that, after his banking life is over, his greatest wish would be to run his own restaurant.

Photography is his other passion, and he would not mind turning professional at that either.

“Life,” he notes, “is never dull. I like discussing and being involved in new things. I just wish I had the time to do and indulge in all the different things I want to achieve.

“But, I don’t think I want to do bungee jumping though!”

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