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Standard Chartered Announces Major Senior Management Changes
Karen Fawcett, CEO of Retail Banking and Group Head of Brand & Marketing will retire at the end of 2017. Ben Hung, Regional CEO Greater China & North Asia (GCNA) will be replacing Karen for the role of CEO of Retail Banking at the end of November 2017. The vacated responsibility of Group Head of Brand and Marketing will be assumed by Tracey McDermott, Group Head of Corporate, Public and Regulatory Affairs.
” Ben Hung Replaces Retiring Karen Fawcett as CEO of Retail Banking “
Anna Marrs, CEO for Commercial Banking and CEO for Private Banking and Wealth Management, had took on the role of Regional CEO in late 2016. She will transfer her Regional CEO responsibilities in two stages between now and the fourth quarter of 2018 to Judy Hsu, CEO, Singapore.
Judy Hsu, CEO Singapore, will take over responsibility for the ASEAN & South Asia (ASA) region in the fourth quarter of 2018. In order to allow for a smooth transition, she will take on additional responsibility for Malaysia, Thailand and Vietnam, and join the Group Management Team. Judy will continue reporting to Anna Marrs, in relation to her ASA region responsibilities and will also report to Bill Winters, Group Chief Executive, in relation to her responsibilities as a Management Team member.
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Bill Winters, Group Chief Executive of Standard Chartered:
“These changes ensure a smooth and orderly succession which will allow us to continue our unrelenting focus on delivering our strategy, capturing opportunities whilst driving efficiency, increased digitisation and better shareholder returns across our global and local businesses.
Karen has had a successful career in a number of roles over the last 16 years at Standard Chartered. Most recently she has been instrumental in developing and driving forward our retail strategy. We are very grateful to her for her contribution and wish her all the best for the future”.
Source: Official Press Release
About Standard Chartered
Standard Chartered Bank
Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.
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