Standard Chartered Bank has appointed former Barclays executive Didier von Daeniken as its new global head of private banking & wealth management.
This newly created global role combines the leadership of the bank’s private bank and wealth management product and advisory services, which had previously been run by separate people.
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Michael Benz, incumbent global head of Standard Chartered’s private banking, will leave the bank on 18 December 2015, the bank said in a press statement.
Von Daeniken, who will join the bank in March 2016, will be based in Singapore.
He will report to Anna Marrs, CEO of Commercial & Private Banking at Standard Chartered.
He will be responsible for executing the bank’s new strategy to grow the two businesses and achieve targeted AUM growth of $25bn by 2018.
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By GlobalDataMarrs said: "Didier is a highly experienced wealth expert, who has a deep understanding of the markets where we are present.
"He joins the Bank at a dynamic time, as we prepare to invest significantly in 2016 and beyond, to strategically grow our Private Banking and Wealth Management businesses and enhance our technology and platform capability, to provide an even better service to our clients," she said.
At Barclays, Von Daeniken led their private banking business for Asia Pacific, Middle East and Africa, and was responsible for the development and implementation of Barclays’ wealth and investment management growth strategy in these regions, from 2007.
Prior to that, he spent his career at Credit Suisse and held senior positions in Zurich, Geneva, Dubai, Istanbul and Singapore.
Until Von Daeniken joins, Marrs will assume the additional responsibility of interim global head, private banking and Judy Hsu will continue to lead Wealth Management in her full time capacity as CEO, Singapore, the bank said.
