People Moves

EXCLUSIVE: Top-Level Private Bank Executive In Singapore Leaves, Replacement Named

Tom Burroughes Group Editor 30 September 2016

EXCLUSIVE: Top-Level Private Bank Executive In Singapore Leaves, Replacement Named

This publication can report exclusively on a top-level move at the helm of a large private bank in the Asia region.

Stephen Richards-Evans, global head, UHNW at Standard Chartered’s private bank, and market head, Indonesia, is leaving the post, this publication can exclusively report. He has been based in Singapore.

This publication understands that his move is part of a series of changes put in place at Standard Chartered in the wake of the appointment in July of former senior Barclays manager Srinivas (Srini) Siripurapu as regional head, private banking, ASEAN and South Asia, and as global head, non-resident Indian clients. Siripurapu took over the regional leadership from Peter Kok, whose role was then combined within the former’s expanded remit.

Standard Chartered today confirmed this publication's report with a statement, and added further details: "We are pleased to announced the appointment of Andrew Ho as managing director and market head, Indonesia, and Vishal Jain as MD and market head, Global South Asia Community (GSAC) Asia." Both report to Siripurapu.

Richards-Evans, who was appointed to his head of global UHNW role in October 2014, will be succeeded by Andrew Ho, who for 10 years was at UBS Wealth Management as country head for Indonesia, this publication understands. Prior to that, he worked at Citigroup's private bank. 

Standard Chartered said Richards-Evans has "decided to pursue another opportunity externally".

Richards-Evans was appointed to the UK-listed lender, which earns the bulk of its revenues in regions such as Asia, in 2007 to establish and lead its private banking activities in North Asia. From winter 2010 he led the bank's private banking activities in the Western Hemisphere based out of Dubai. He has been working in banking and finance for more than 30 years, holding roles in the UK, Germany and Italy. For more than 22 years he held senior private banking roles in Asia and the Middle East, working from locations such as Dubai, Hong Kong and Singapore. Before he joined Standard Chartered, Richards-Evans held roles for Lloyds Bank, culminating in his appointment as CEO Asia in 2000. Subsequently he held roles in HSBC Private Bank - including managing director in Singapore followed by a regional CEO role based in the Middle East in Dubai, according to Standard Chartered's website.

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