David Edwards

But five months into his new assignment and this career banker has changed his mind. 'The problem is that there are too many new opportunities for the bank, not too few, and we simply can not manage everything and must focus on a few areas,' he says.

Islamic banking is one new priority for Standard Chartered which aside for a leasing operation in Pakistan has done little in this growing sector.

'We can see great market potential and I am assembling an Islamic banking team right now,' he explains. 'It would be wrong to pre-empt what that team might decide is the right approach to the market here but we do see a whole load of opportunities for us in this sector'.

The second area of focus for the new boss of Standard Chartered is project finance, and again a new team is being recruited.

'We want to focus on oil and gas, and power, it is not possible to do everything', says Mr. Edwards. 'But what we do will be well done, and we will lead or co-lead projects in places such as Qatar and Iran.'

More locally, Standard Chartered wants to enter the mortgage market in the UAE. 'This is a core business for us around the world and it makes sense to apply this experience here,' says Mr. Edwards. 'We are already offering mortgages in Bahrain and we are just waiting for the appropriate legislation in the UAE'.

The same dynamic picture emerges in the expansion of regional coverage. Mr. Edwards wants to get a branch operational in Iran rather than a representative office, and to break into Saudi Arabia where the bank does not even have a representative office.

'It's the biggest economy in the region and we are not there, but no decision has been made yet,' he says. Similarly Iraq offers challenges that are irresistible to Standard Chartered.

'We will follow our existing clients into Iraq and are already in touch with the UK authorities. It is a logical step for us as an emerging market bank and with experience of opening up in Cambodia and Laos after conflict situations. But at the moment it is not clear who will grant banking licenses in Iraq'.

At the same time, Standard Chartered has conducted a feasibility study into opening an office in Afghanistan, and is also waiting for legislation to develop to allow the development of a mortgage book in Pakistan.

A keen cricketer, Mr. Edwards also heads up the Standard Chartered cricket side, and joined the bank four years ago after a 25-year stint with NatWest Bank which concluded with a period as group regional managing director Asia Pacific. He is a member of the bank's executive committee.

This year Standard Chartered celebrates its 150th anniversary and remains fiercely independent despite being a perennial target of takeover speculation. Listed in London and Hong Kong the bank today seems more likely to be buying than to be bought with most potential suitors not in a position to make serious advances.

'Looking back I wish I had joined Standard Chartered years ago,' says 49 year old Mr. Edwards. 'Every day is different with this bank, especially one focused on emerging markets'.