Standard Chartered’s head of investment banking Cooper to leave
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo
SCBFF
+1.50%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
LONDON (Reuters) -Standard Chartered banker Simon Cooper is leaving the Asia-focused lender as part of a management reshuffle that will see Roberto Hoornweg and Sunil Kaushal take over as co-heads of corporate and investment banking.
As part of the reorganisation, Judy Hsu, currently CEO of the consumer business, will take on responsibility for Greater China and North Asia markets, the bank said in a statement.
Ben Hung, currently CEO of the bank’s Asia business, will assume the new role of President, International, the bank added.
“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,” Bill Winters, Standard Chartered (OTC:SCBFF) CEO, said.
Cooper had been seen by some investors as a potential successor to Winters, who has been in the role since 2015 and remains one of the longest-serving chief executives in UK banking.
Standard Chartered shares, which have fallen 2.1% over the last year, were trading 2.2% higher at 1054 GMT.
The London-headquartered bank reported an 18% increase in annual profits last month and pledged to buy back $1 billion in shares to boost a stock valuation that Winters described as “crap”.
Cooper has served as chief executive officer of the Corporate, Commercial and Institutional Banking division at StanChart since 2018 and is leaving to pursue other interests, the bank said.
His decision to quit comes just as Diego De Giorgi settles in as chief financial officer, succeeding Andy Halford, who had held the role since July 2014.
