To maximise opportunities in key growth regions, the Bank has recently implemented a new structure of eight specific regions: ASEAN, Greater China, North East Asia, MENAP, South Asia, Africa, Europe and the Americas.
As CEO ASEAN, Cheng Teck will be responsible for delivering the refreshed and sharpened strategy to realise the growth and return aspirations for the Bank’s franchise and operations in ASEAN, comprising Singapore, Indonesia, Malaysia, Thailand, Philippines, Laos, Myanmar, Vietnam, Cambodia, Brunei and Australia.
Cheng Teck is a veteran banker with 26 years of experience at Standard Chartered. Prior to this new role, Cheng Teck was CEO and Executive Vice Chairman of Standard Chartered Bank (China) Limited. He led the China team to double revenue from 2009 to 2012, crossing USD1 billion for the first time and doubled its branch footprint in China. Before China, Cheng Teck was CEO of Standard Chartered Bank, Singapore.
Jaspal Bindra, Group Executive Director and CEO Asia, Standard Chartered PLC said: “We are pleased to announce the appointment of Cheng Teck as CEO of ASEAN where we are the only international bank to be present in all ten markets. Our ASEAN franchise is one of the eight key regions which the Bank is focusing on. It is an important region, contributing close to a quarter of the Group’s total income in 2013. We are confident of ASEAN’s growth potential and with Cheng Teck’s appointment, our aim is to more effectively contribute to and grow with the region.
Cheng Teck’s excellent track record as CEO in high growth, high potential markets such as Singapore and China, will be a boost to our long term growth aspirations in this region. He will lead our strategic efforts to leverage on our strong ASEAN presence to facilitate trade and investment flows between ASEAN and the rest of the world, and to enhance the support we provide to all our clients.”
Lim Cheng Teck, CEO for Standard Chartered Bank, ASEAN commented: “ASEAN has immense opportunities, with its 600 million strong population and steady economic growth; it has significant potential for the financial services industry. I look forward to leading this exciting franchise and drawing on the expertise of our 30,000 staff to provide innovative client-centric solutions."
Cheng Teck started his career with Standard Chartered in Singapore in 1988. He has spent close to ten years based overseas and will return to Singapore for his new role.
Cheng Teck was Chairman of Standard Chartered (Mauritius) Limited from 2008 to 2010 and has been a Non-Executive Director of Standard Chartered (Taiwan) Ltd. since July 2010.
For further information please contact:
Regional Corporate Affairs, ASEAN
T: +65 6596 4050
M: +65 8498 5911
Note to Editors:
We are a leading international banking group, with more than 86,000 employees and a 150-year history in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.