Standard Chartered, the UK-listed bank earning most of its revenues in Asia and Africa, has just announced changes to its group management structure to reduce complexity.

Roberto Hoornweg, global head of financial markets and Sunil Kaushal, regional CEO of Africa and Middle East, have been appointed co-heads of corporate and investment banking (CIB) at Standard Chartered, starting in April. Simon Cooper will leave the group to pursue other interests, the firm said in a statement.

The regional dimension will be removed from the structure, the firm added. As a result, in addition to co-leading CIB, Hoornweg, based in Dubai, will take on responsibility for Europe, Americas, Middle East and Africa markets. Sunil will be responsible for ASEAN and South Asia markets, based in Singapore.

Judy Hsu, CEO, consumer, private and business banking (CPBB), will be responsible for Greater China and North Asia markets, after her move to Hong Kong from Singapore, in addition to her responsibility for CPBB, the firm said.

Ben Hung, CEO of Asia, will assume the new role of president, international, focusing on the group’s priority to deliver for its clients across markets, balancing the need to drive global business strategies while maintaining appropriate local focus. Until Hsu completes her move to Hong Kong, Hung will oversee GCNA markets, the firm added.

Tanuj Kapilashrami, group head of human resources, will have a new role of chief strategy and talent officer. In addition to HR, Kapilashrami will be responsible for strategy, corporate affairs, brand and marketing, supply chain management, and property.

“As we announced at our full year 2023 results, we are taking action to build on our momentum and deliver sustainably higher returns,” Bill Winters, group chief executive, said. “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.” 

Winters also thanked Simon Cooper for his contribution to Standard Chartered over the past eight years, saying he has led a substantial transformation to their corporate, commercial and institutional banking business.

The firm announced in February that its full-year 2023 profit, attributable to shareholders and on a reported basis, rose 18 per cent year-on-year to $3.017 billion. See more commentary here about the results.