Jaisingh, currently the global co-head of Standard Chartered private equity, will take over the new role from Joseph Stevens who is leaving the bank, the person told Reuters, declining to be named as the move is not public yet.

Standard Chartered's private equity unit, which manages about $5 billion (4 billion pounds) in investments, is looking to reduce its total exposure over the next few years as part of CEO Bill Winters' push to exit from areas not critical for the bank, said the person.

A spokeswoman for Standard Chartered <2888.HK> declined to comment, while Jaisingh did not comment and Stevens could not immediately be reached.

(Reporting by Sumeet Chatterjee; Editing by Muralikumar Anantharaman)