Standard Chartered rejigs top team as retail banking boss leaves

FTSE 100 giant Standard Chartered has rejigged its management team since it’s mind of retail banking heads for that exit.

The audience, which does the majority of its business in Asia, the center East and Africa, has promoted Ben Hung to helm its retail operations after Karen Fawcett, who held the function for 2 years, announced intends to retire.

Mr Hung is adding the task to his existing role as leader from the bank’s Greater China and North Asia companies. The modification will require effect in the finish of November.

It belongs to a broader shake-from senior roles at Standard Chartered.

Singapore leader Judy Hsu will require over responsibility for South-East and South Asia from Anna Marrs, with Ms Marrs ongoing to supervise the firm’s commercial and banking operations.

Standard Chartered

Tracey McDermott, who ran United kingdom watchdog the Financial Conduct Authority for 10 several weeks until last June, takes over responsibility for logo and marketing at Standard Chartered.

This represents extra time of Ms McDermott’s role. She became a member of the financial institution captured as mind of public, corporate and regulatory matters.

The firm is reporting third quarter results tomorrow, with investors expected to pay attention to leader Bill Winters’ efforts to grow the company after numerous years of retrenchment and restructuring.

The loan provider published pre-tax profits of $1.8bn (£1.4bn) for the very first half of the season but unsuccessful to resume dividend payments towards the dismay of investors.

However, its stock continues to be broadly recovering value since plumbing lows of under 420p nearly 2 yrs ago. It had been buying and selling over the 750p mark entering tomorrow’s earnings update.

Standard Chartered leader Bill Winters stated: “These changes ensure an even and orderly succession that will let us continue our unrelenting concentrate on delivering our strategy.”

Leave a Reply

Your email address will not be published. Required fields are marked *