Singapore and Hong Kong – Standard Chartered PLC (the Group) announced an updated organisation structure on September 10, which will further sharpen its focus on individual clients, expand its network business and create a leaner organisation. The Group is today announcing the structure and key roles under the new Consumer, Private and Business Banking (CPBB) business and Asia region, as well as a key appointment in the Europe and Americas region. The new structures and related appointments are effective on 1 January, 2021.
The new CPBB structure
The CPBB business, to be led by Judy Hsu, currently Regional CEO, ASEAN & South Asia (ASA), brings together the Group’s current Retail Banking, Private Banking and Wealth Management operations. This combined business will grow the Group’s affluent client base, further develop innovative digital banking solutions for mass-market and small businesses, and deliver further efficiencies.
CPBB will be organised around two client groups and two regions:
- Vishu Ramachandran will lead Personal and Business Banking.
- Judy Hsu will lead Private and Priority Banking until a permanent appointment is made.
- Samir Subberwal will lead CPBB for the Asia region.
- Kariuki Ngari will lead CPBB for Africa, Middle East and Europe, in addition to his CEO Kenya and East Africa responsibilities, until a permanent appointment is made.
- Rosalind Ng will lead Client Experience and Strategic Business Enablement.
Wealth Management will continue to be led by Marc Van de Walle. Vishu, Samir, Kariuki Rosalind and Marc, will be members of Judy’s CPBB Management Team.
Judy Hsu, designate CEO, CPBB, said:
“CPBB will be one global business; our two client groups will be supported by teams of experts covering Wealth Management, Retail solutions, Digital and Data Analytics, and Client Experience that will help us deliver exceptional experiences and solutions to meet the distinctive needs of our client segments with greater speed and consistency.”
The new Asia region structure
The Group’s new combined Asia region – to be led by Ben Hung, currently Regional CEO, Greater China & North Asia – brings together the Group’s ASEAN and South Asia (ASA), and Greater China and North Asia (GCNA) regions. The new region will cluster together key markets to allow the Group to more effectively service clients across the increasing trade, capital and investment flows both within Asia, and between Asia and the world, pursue strategic opportunities in China’s Greater Bay Area, and capitalise on the wealth and business opportunities ASEAN and South Asia present.
The cluster market CEOs are:
- Jerry Zhang, Cluster CEO, China & Japan.
- Mary Huen, Cluster CEO, Hong Kong, Taiwan & Macau.
- Zarin Daruwala, Cluster CEO, India & South Asia Markets (Bangladesh, Nepal & Sri Lanka).
- Andrew Chia, Cluster CEO, Indonesia and ASEAN Markets (Australia, Brunei & the Philippines).
- Patrick Lee, Cluster CEO, Singapore and ASEAN Markets (Malaysia, Vietnam, Thailand & Rep Offices).
- Park Jong Bok, CEO, Korea.
- Anthony Lin, CEO, Greater Bay Area.
The Cluster CEOs will form part of Ben’s Asia Management Team (AMT). Joining the AMT to forge greater business and network synergies are Samir Subberwal, Paul Skelton, Global Head, Client Coverage, Commercial, Corporate & Institutional Banking, and John Tan, Global Head, Financial Markets Regions.
The above appointments are subject to regulatory approval where required.
Ben Hung, designate-CEO, Asia, said:
“The new Asia Management Team reflects the strength of the Bank’s diversity – in our clients, businesses, people and communities. They will further enhance the inter-connectedness of our Asia network and better serve clients who are keen to leverage our deep local expertise and extensive footprint of 21 markets to access trade, investment and wealth opportunities across Asia.”
Europe and Americas region
In addition to assuming leadership of the Group’s Europe and Americas (EA) region as CEO, Europe and Americas, Torry Berntsen will become CEO, Europe and UK, and relocate to the UK. Steve Cranwell will succeed Torry as CEO, Americas, and will report to him.
All appointments and management teams are effective from 1 January 2021. The Group will report its full-year 2020 results according to the current structure with four business segments and four regions.
For further information please contact:
Gabriel Kwan Hong Kong +852 2820 3036
Rena Teng Singapore +65 6596 7764
Josephine Wong Singapore +65 6596 4690
Jon Tracey London +44 773 005 1846
Mark Stride London +44 207 885 8596
Darren Clark Hong Kong +852 2820 3050