Banking News

Executive Reshuffle Announced by Standard Chartered

(14 March 2024 – United Kingdom) Standard Chartered has announced a reshuffle of its executive team following the departure of CCIB CEO Simon Cooper.

Standard Chartered has announced a recalibration of its group management structure to create a simpler and more efficient organisation, effective 1 April 2024. The move is designed to ensure the right leadership team is in place to reduce complexity and further sharpen the group’s focus on driving strong, sustainably higher returns through each business line.

Mr Cooper was viewed by many as a potential successor to Standard Chartered Group CEO Bill Winters.

The corporate, commercial and institutional banking (CCIB) division has been renamed to corporate and investment banking (CIB). Global head of financial markets Roberto Hoornweg and MENA Regional CEO Sunil Kaushal will replace Cooper as co-heads of CIB. StanChart Asia CEO Ben Hung will assume the new role of President, International, focusing on the Group’s priority to deliver for its clients across markets.

“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” stated Standard Chartered Group CEO Bill Winters.

“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.”