Standard Chartered, a prominent Asia-focused bank, has recently undergone a significant management reshuffle in its corporate and investment banking business. The bank has made new regional appointments in an effort to better serve clients and promote internal talent. These changes are part of a larger strategy to drive stronger, sustainable returns through each business line.
One of the key appointments is Torry Berntsen, who has been named executive vice-chairman for CIB Europe, Americas, the Middle East & Africa. This move reflects the bank’s focus on enhancing its operations in these regions and strengthening its presence in key markets. Additionally, Steve Cranwell will be heading operations for the United States, Europe, and the Americas, while Kariuki Ngari will oversee Kenya and Africa. Rola Abu Manneh has been tasked with managing the United Arab Emirates and the wider Middle East region, including Pakistan.
In a bid to streamline operations and improve connectivity between product and geography, Zarin Daruwala will lead the business in India and South Asia, while Patrick Lee will oversee Singapore and the ASEAN hub. These appointments are aimed at fostering greater collaboration and synergy within the bank’s various business units.
Standard Chartered has emphasized the importance of reducing complexity and sharpening its focus on driving higher returns through each business line. By enhancing connectivity between different regions and product offerings, the bank aims to expand its client base and increase business opportunities. This strategic realignment is crucial for maintaining a competitive edge in the rapidly evolving financial landscape.
The recent management reshuffle at Standard Chartered follows the departure of banker Simon Cooper, who was considered a potential successor to group CEO Bill Winters. In his place, Roberto Hoornweg and Sunil Kaushal have been appointed as co-heads of corporate and investment banking. These changes are part of a broader effort by Winters to refresh the bank’s top talent and execute a strategy that is focused on delivering strong returns amidst challenging economic conditions.
Overall, the new regional appointments at Standard Chartered signal a proactive approach to enhancing operational efficiency and driving growth in key markets. By promoting internal talent and fostering greater collaboration across regions, the bank is positioning itself to capitalize on emerging opportunities and navigate the complexities of the global financial landscape.
