The bank is combining its Greater China & North Asia and ASEAN & South Asia regions as part of changes to create a leaner organization and leverage its competitive advantages, effective 1 January 2021.
The new Asia region will be led by Hong Kong-based Ben Hung, who is currently regional CEO, Greater China and North Asia and CEO, retail banking and wealth management, the bank announced on Thursday.
This will help Standard Chartered facilitate the growing trade and investment flows across Asia, while continuing to pursue strategic opportunities in China’s Greater Bay Area, and capitalize on the wealth and business opportunities in ASEAN presents, the announcement said.
Refreshed Strategy
Standard Chartered is also combining its retail banking, private banking, and wealth management units within a new business – Consumer, Private and Business Banking (CPBB).
CPBB will be led by Singapore-based Judy Hsu, who is currently CEO, ASEAN and South Asia. Hsu's responsibilities will include growing the affluent client base, developing the Group’s mass-market digital banking solutions, and delivering further efficiencies in the combined business.
«The increased focus on connecting our Asian business will allow us to better serve our corporate and institutional clients as they develop their businesses across these dynamic markets,» Bill Winters, Standard Chartered Group CEO, said about the changes.
New Regional Head
Torry Berntsen, who is currently CEO, Americas, will also head Europe & Americas with the retirement of Tracy Clarke, currently regional CEO of Europe & Americas, and of the company's private bank.
Berntsen will report to Singapore-based Simon Cooper, head of the recently fully integrated Commercial Banking and Corporate & Institutional Banking businesses and currently CEO, Corporate, Commercial & Institutional Banking (CCIB).
