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November 18, 2020

Standard Chartered rejigs organisational structure to fuel growth

Standard Chartered has revamped its organisational structure to create fewer units in a bid to streamline operations and fuel growth.

The move combined the group’s current retail banking, private banking and wealth management operations under a newly created Consumer, Private and Business Banking (CPBB) business.

Judy Hsu, the current regional CEO of ASEAN & South Asia (ASA), will lead the CPBB business. She will also lead Private and Priority Banking operations temporarily.

CPBB will be organised into two different regions, where Samir Subberwal will lead the business in Asia and Kariuki Ngari will be in charge of Africa, Middle East and Europe.

Vishu Ramachandran will be responsible for Personal and Business Banking and Rosalind Ng has been appointed to lead Client Experience and Strategic Business Enablement.

Marc Van de Walle will continue to lead the wealth management operations.

The new organisational structure and appointments will become effective from 1 January 2021.

Hsu said: “CPBB will be one global business; our two client groups will be supported by teams of experts covering Wealth Management, Retail solutions, Digital and Data Analytics, and Client Experience that will help us deliver exceptional experiences and solutions to meet the distinctive needs of our client segments with greater speed and consistency.”

Separately, Standard Chartered has appointed Ben Hung, who currently serves as the regional CEO of Greater China & North Asia, as the head of the group’s new combined Asia region.

The company has also named Torry Berntsen the CEO of Europe and UK. Steve Cranwell has been appointed as the CEO of the Americas and will report to Berntsen.

Last month, Standard Chartered announced that its private banking arm has returned to profit in Q3 2020.

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