 "StanChart India remains without a CEO")
Standard Chartered Plc has appointed Simon Cooper, 48, as chief executive officer, Corporate and Institutional Banking. He will join in April next year, after he gets the regulatory nod.
At present, Cooper is managing director and chief executive of Global Commercial Banking of HSBC. The commercial banking division is one of HSBC’s largest and most profitable businesses. He joined HSBC in 1989, and has held several senior positions, including deputy chairman and CEO, Middle East and North Africa; CEO, Korea; and head of corporate and investment banking, Singapore. He also has significant experience in corporate finance, corporate banking and transaction banking.
In a statement, StanChart said he would be responsible for executing the new strategy announced on November 3. This includes improving returns on $40-billion of assets, investing in products and services where the group has an advantage, adding new clients where they can make returns safely.
Bill Winters, group chief executive, Standard Chartered Plc, said, "He will join the group at a crucial time for the CIB business, as we focus on delivering higher returns and selectively growing our client base, boosting investment in core products and services, such as RMB, transaction banking and financial markets, and managing our cost base."
