British banking major Standard Chartered has named Jose Vinals as its new chairman, replacing John Peace, who will step down on 1 December 2016.
Vinals will join the board on 3 October 2016, and will relocate to London, the bank said in a statement.
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He will spend up to four days a week on average on his duties as non-executive chairman of the Group and will travel extensively around the bank’s network as part of his role, the post added.
Vinals is currently the financial counsellor and director of the monetary and capital markets department of the International Monetary Fund (IMF). His responsibilities include the oversight and direction of the IMF’s monetary and financial sector work, and he is the IMF’s chief spokesman on financial matters, including global financial stability.
Vinals was also a member of the Plenary and Steering Committee of the Financial Stability Board for seven years, playing a key role in the reform of international financial regulation.
Standard Chartered senior independent director Naguib Kheraj said: "He is widely acknowledged as an expert on the world financial and regulatory landscape and has a wealth of knowledge of the markets in which Standard Chartered operates. He has excellent relationships with finance ministers, central bank governors and private sector bank leaders around the world."
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By GlobalDataStandard Chartered group CEO Bill Winters said: “Jose brings deep and extensive economic, political and regulatory experience of our markets and an exceptional grasp and understanding of the international financial system.”
Additionally, the firm has appointed Vivian Chan as regional head of private banking for Greater China and North Asia, succeeding Desmond Liu, who will retire from the bank at the end of 2016.
Chan service will be effective from January 2017, and will be based in Hong Kong. She will report to Standard Chartered private banking and wealth management global head Didier von Daeniken.
Chan will be responsible for leading banks private banking team and growing the business in Greater China and North Asia, with a strategic focus on the Hong Kong market as a core global wealth hub.
She has over three decades of experience and expertise in building businesses and managing UHNW client relationships.
Prior to joining Standard Chartered, she worked at Barclays, where she was regional head of private banking for North Asia, since 2013. She also held senior roles at Credit Suisse and Citibank.
Commenting on Chan’s appointment, Daeniken said: “Vivian’s proven track record in understanding UHNW client needs and her ability to build enduring relationships with them will be a real asset, as we seek to provide bespoke private banking products and services to generations of entrepreneurs in the region.”
