London-based Standard Chartered has announced a reorganization of its leadership team following the departure of top executive Simon Cooper.

Standard Chartered has reorganized its global group management structure, according to a statement. This is to «ensure the right leadership team is in place to reduce complexity and further sharpen the focus on driving strong, sustainably higher returns through each business line».

Former corporate, commercial and institutional banking (CCIB) CEO Simon Cooper has left after working eight years at the British lender. He was viewed by some investors as a potential successor to group CEO Bill Winters. 

Newly Named Unit

The CCIB division has been renamed as corporate and investment banking (CIB). Global head of financial markets Roberto Hoornweg and Africa & Middle East regional CEO Sunil Kaushal will replace Cooper as co-heads of CIB.

Regional Dimension Removed

According to the bank, the regional dimension will be removed from the structure to «ensure clear accountabilities to better drive global priorities through each of the business lines into the markets where they operate».

As a result, Hoornweg will be responsible for Europe, Americas, Middle East and Africa markets, based in Dubai, while Kaushal will be responsible for ASEAN and South Asia markets, based in Singapore.

GCNA, International

Consumer, private and business banking CEO Judy Hsu will retain her existing role while taking on responsibility for Greater China and North Asia (GCNA) markets after relocating from Singapore to Hong Kong. 

Current Asia CEO Ben Hung will assume the new role of president, international, focusing on the bank’s priority to «deliver for its clients across markets, balancing the need to drive global business strategies while maintaining appropriate local focus». He will continue to oversee GCNA markets until Hsu completes her relocation to Hong Kong. 

HR, Strategy and Talent

Tanuj Kapilashrami, who is currently the group head of human resources (HR), will take on a new role as chief strategy and talent offer. In addition to HR, she will be responsible for strategy, corporate affairs, brand and marketing, supply chain management and property.

«As we announced at our full year 2023 results, we are taking action to build on our momentum and deliver sustainably higher returns,» Winters commented. «These changes will ensure we have the strongest possible team in place, with clear accountabilities, to drive our transformation efforts and bring renewed intensity to our focus on increased growth and returns through each of our business lines.»