Standard Chartered PLC has announced changes to its Group management structure to create a simpler and more efficient organisation. The changes are effective 1 April 2024.
Roberto Hoornweg, currently Global Head, Financial Markets and Sunil Kaushal, currently Regional CEO, Africa & Middle East are appointed Co-Heads of Corporate & Investment Banking (CIB) (previously Corporate, Commercial and Institutional Banking (CCIB)). Simon Cooper will leave the Group to pursue other interests.
To ensure clear accountabilities to better drive global priorities through each of the business lines into the markets where they operate, the regional dimension will be removed from the structure. As a result, in addition to co-leading CIB, Roberto will take on responsibility for Europe, Americas, Middle East and Africa markets, based in Dubai; Sunil will take on responsibility for ASEAN and South Asia markets, based in Singapore.
Judy Hsu, CEO, Consumer, Private and Business Banking (CPBB) will take on responsibility for Greater China and North Asia markets, after her move to Hong Kong from Singapore, in addition to her ongoing responsibility for CPBB.
Ben Hung, currently CEO, Asia, will assume the new role of President, International, focusing on the Group’s priority to deliver for its clients across markets, balancing the need to drive global business strategies while maintaining appropriate local focus. Until Judy completes her move to Hong Kong, Ben will continue to oversee GCNA markets.
Tanuj Kapilashrami, currently Group Head, Human Resources (HR), will assume a new role of Chief Strategy and Talent Officer. In addition to HR, Tanuj will take on responsibility for Strategy, Corporate Affairs, Brand and Marketing, Supply Chain Management, and Property.
Bill Winters, Group Chief Executive, commented:
“As we announced at our Full Year 2023 results, we are taking action to build on our momentum and deliver sustainably higher returns. 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.
“I would like to thank Simon Cooper for his contribution to Standard Chartered over the past eight years. He has led a substantial transformation in our Corporate, Commercial and Institutional Banking business, which has been instrumental in delivering sustainable returns.”
