Standard Chartered Announces New Regional Heads in Investment Banking Division

Standard Chartered has appointed new regional heads for its corporate and investment banking business (CIB). According to a source familiar with the matter, these appointments aim to bolster client service and promote internal talent within the Asia-focused bank.

Torry Berntsen has been named as the Executive Vice-Chairman for CIB Europe, Americas, the Middle East & Africa. Meanwhile, Steve Cranwell will spearhead CIB operations across the United States, Europe, and the Americas. Kariuki Ngari has been entrusted with leading CIB in Kenya and Africa, while Rola Abu Manneh will take charge of overseeing the United Arab Emirates, as well as the broader Middle East region and Pakistan.

Additionally, under the organizational reshuffle, Zarin Daruwala will assume leadership of the CIB business in India and South Asia, while Patrick Lee will be responsible for Singapore and the ASEAN hub.

In an emailed statement, Standard Chartered expressed its intent to streamline operations and enhance focus on driving robust and sustainable returns through each business line, emphasizing greater connectivity between product offerings and geographical regions to facilitate increased business with clients.

These appointments follow Standard Chartered's recent announcement of changes in its leadership, including the departure of banker Simon Cooper. Roberto Hoornweg and Sunil Kaushal have been appointed as co-heads of corporate and investment banking. Sources familiar with the matter had previously described the reshuffle as part of an effort by the bank's CEO, Bill Winters, to rejuvenate top talent and bolster returns amidst challenges posed by China's economic outlook.

Also Read: Standard Chartered's Investment Banking Chief, Simon Cooper, to Depart