People Moves

EXCLUSIVE: Change At The Top Of Standard Chartered's Private Bank

Tom Burroughes Group Editor 7 July 2014

EXCLUSIVE: Change At The Top Of Standard Chartered's Private Bank

This publication can exclusively report on a top-level change at the private bank of Standard Chartered.

Rajesh Malkani, regional head, private banking clients, ASEAN/Greater China, is moving to the bank’s UK offices in London later this year, this publication understands.

The UK-listed bank, which earns the bulk of its revenue outside the UK in regions such as Asia, is actively seeking a replacement.

Standard Chartered declined to comment on the matter when contacted.

In April this year, this publication reported that the Standard Chartered Bank appointed Singaporean Lim Cheng Teck as chief executive for its ASEAN markets; Lim reports to the bank’s Asia CEO, Jaspal Bindra. The bank had implemented a new structure of eight specific regions: ASEAN, Greater China, North East Asia, MENAP (Middle East, North Africa and Pakistan), South Asia, Africa, Europe and the Americas.

In June, the bank issued a trading statement update, describing some aspects of its first-half performance as “disappointing”. In its wealth management arm, results are expected to be slightly higher, it said, but gave no specific numbers.

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