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Tag: StanChart

  • StanChart CFO Transitions to Apollo, Peter Burrill Steps Up as Interim Successor

    StanChart CFO Transitions to Apollo, Peter Burrill Steps Up as Interim Successor

    The global finance chief of UK-based banking and financial services corporation, Standard Chartered, has departed to join an American alternative asset management firm.

    Executive Shifts at Standard Chartered

    Standard Chartered has announced the appointment of Peter Burrill as the interim Group Chief Financial Officer (GCFO), effective immediately. This follows the exit of Diego De Giorgi from his dual roles as Executive Director and GCFO.

    Burrill currently holds the position of Group Head, Central Finance, and Deputy Chief Financial Officer within the bank. Before his tenure at Standard Chartered, which began in 2017, Burrill worked as the Group Controller and Co-Head of Group Finance at Deutsche Bank.

    He initiated his professional journey at KPMG, spending almost two decades in the company. His time at KPMG was divided between 10 years in the United States and a subsequent 10 years in Germany. Additionally, Burrill is the chair of the SCB AG Supervisory Board, a role he has maintained since March 2025.

    Established Executive Heads to New York

    Diego De Giorgi, with a career spanning over 30 years in the industry, has taken on a new role at Apollo, an alternative asset management firm based in New York. He now serves as a partner and the head of the Europe, Middle East, and Africa (EMEA) region.

    Questions & Answers

    Who has been appointed as the interim Group Chief Financial Officer at Standard Chartered?
    Peter Burrill has been appointed as the interim Group Chief Financial Officer at Standard Chartered.

    Where did Peter Burrill begin his professional career and how long did he work there?
    Burrill started his career at KPMG, where he worked for nearly twenty years.

    What is the new role of Diego De Giorgi at Apollo?
    Diego De Giorgi has joined Apollo as a partner and head of the Europe, Middle East, and Africa (EMEA) region.

  • Standard Chartered Expands Reach In Singapore: Strategic Partnerships To Boost Global Indian Operations

    Standard Chartered Expands Reach In Singapore: Strategic Partnerships To Boost Global Indian Operations

    Standard Chartered, a London-based financial institution, has recently entered into strategic agreements intended to increase its reach within Singapore’s business networks and boost the growth of its global India operations. These partnerships are with the Singapore Indian Chamber of Commerce & Industry as well as with the Institute of Chartered Accountants of India in Singapore.

    Unlocking Indian Networks

    The primary aim of these collaborations is to strengthen Standard Chartered’s global Indian proposition. This will be achieved by expanding its access to Indian business networks in Singapore and increasing its involvement within these communities.

    According to Standard Chartered, the number of high net worth individuals in India has doubled over the past decade. This demographic is projected to expand to 1.6 million individuals by the year 2027.

    James Lye, Standard Chartered’s Global and Singapore International Banking Head, has stated that these local partnerships will bolster the bank’s relevance in critical markets. It will also solidify its unique proposition and place the bank in a position where it can support and grow alongside the significant wealth creation occurring within these communities. He noted an increasing demand within the global Indian community for cross-border banking and wealth management solutions.

    Continuing the 2024 Initiative

    These new agreements are a continuation of broader efforts initiated in 2024 to update Standard Chartered’s global Indian proposition. The initial phase of this initiative involved enhancing connectivity with the bank’s hubs in various locations such as Singapore, Hong Kong, the United Arab Emirates, and the United Kingdom. This also included the development of a comprehensive set of global solutions and the provision of access to a new affluent wealth center in Mumbai, as well as various lifestyle experiences.

    Celebrating Deepavali

    A notable example of these lifestyle experiences was an exclusive Deepavali celebration recently hosted by the bank in Singapore. The event saw more than 200 clients from priority, private, and corporate banking sectors in attendance. This celebration was headlined by acclaimed Hindi playback singer Sonu Nigam and featured a traditional Diya lighting ceremony, as well as a classical sitar and tabla performance.

    Questions & Answers

    What is the aim of Standard Chartered’s recent strategic agreements?
    The aim is to strengthen the bank’s global Indian proposition by expanding its access to Indian business networks in Singapore and increasing its involvement within these communities.

    What demographic trends have been noted by Standard Chartered in India?
    The number of high net worth individuals in India has doubled over the past decade, and it is projected to continue growing, reaching 1.6 million individuals by 2027.

    What was the 2024 initiative by Standard Chartered?
    Initiated in 2024, the project aimed at updating Standard Chartered’s global Indian proposition. This included enhancing connectivity with the bank’s hubs across the globe, developing comprehensive global solutions, and providing access to an affluent wealth center in Mumbai, along with various lifestyle experiences.

  • SMBC Malaysia Welcomes Former StanChart Banker as New Head of Corporate Banking

    SMBC Malaysia Welcomes Former StanChart Banker as New Head of Corporate Banking

    The shopping landscape in Asia is evolving rapidly, with significant trends shaping the future of retail. As consumer preferences shift and technology advances, retailers must adapt to stay relevant and competitive.

    Adapting to Changing Consumer Behavior

    The pandemic has forever altered how consumers interact with brands. Research shows that shoppers are gravitating towards sustainability, experience-driven purchasing, and personalized shopping experiences. Retailers in Asia are taking note, adapting their strategies to align with these embodied values. From eco-friendly packaging to tailored marketing communications, companies are increasingly aware that understanding consumer behavior can dictate their long-term success.

    The Rise of E-Commerce and Omnichannel Strategies

    As e-commerce boom continues to skyrocket, brands are harnessing the power of omnichannel retailing. This approach integrates both online and offline shopping experiences, allowing consumers to browse, buy, and engage however they please. Retailers are investing in mobile apps, social commerce, and seamless checkout experiences to cater to the tech-savvy shopper. As the adage goes, today’s consumer isn’t just online; they are everywhere!

    Innovations in Customer Experience

    In the age of experience economy, providing a memorable shopping experience has become paramount. Retailers are reimagining their spaces, incorporating experiential elements, and even leveraging augmented reality. Imagine walking into a store where you can “try on” clothes virtually or explore product features using your smartphone. Thrilling and engaging experiences blur the lines between retail and entertainment, capturing the attention of discerning customers.

    Local Brands Take Center Stage

    Surprisingly, local brands are experiencing a renaissance, often resonating more with consumers than international counterparts. This shift is fueled by increased nationalism and a desire to support homegrown businesses. Retailers who embrace their cultural heritage are connecting deeply with shoppers and often find themselves at the forefront of innovation. So, who knew that patriotism could be a winning strategy in the retail sector?

    Building Partnerships for Future Growth

    In this competitive landscape, collaboration is the name of the game. Retailers are exploring partnerships that can enhance their offerings, whether through integrating tech solutions, teaming up with local artisans, or sharing marketing resources. These alliances not only foster innovation but also position brands to engage with wider audiences.

    As Asia’s retail terrain transforms, the ability to pivot and innovate will define leading brands. The future promises exciting possibilities—buckle up, because it’s going to be a thrilling ride!

    Questions & Answers

    What trends are shaping the retail landscape in Asia?
    The trends include a focus on sustainability, personalization, experience-driven purchasing, and the rise of e-commerce.

    How are retailers in Asia adapting to changing consumer behaviors?
    By incorporating eco-friendly practices, enhancing customer experiences, and leveraging technology for omnichannel strategies.

    Why are local brands gaining popularity in the market?
    Local brands resonate more with consumers due to increased nationalism and the desire to support homegrown businesses.

  • StanChart Hires Amazon Technologist

    StanChart Hires Amazon Technologist

    He relocates to Singapore from Sydney, where he spent four years as a senior manager, solution architecture, at Amazon Web Services (AWS).

    Standard Chartered has appointed technologist Brendan Royal as its global chief architect, according to a report on «eFinancialCareers.»

    Royal has over 20 years of experience in financial services across retail, wealth and corporate banking, specializing in large transformation programs with a deep focus on tech and building enduring teams, his LinkedIn profile says. Before joining Amazon in 2019, he was head of banking architecture at Nordea, divisional director for BFS Architecture at Macquarie, and worked for CBA between 1999 and 2013, latterly as head of retail and business banking architecture.

    The move follows the bank’s five-year strategic global agreement with AWS to drive its digital transformation and deliver new personalized banking services in the bank’s 60 markets worldwide, signed in November 2020.

    As banks partner up with cloud platforms like AWS, they are increasingly also hiring from these same providers, the report said, noting that StanChart hired Google’s Singapore-based cloud engineering lead, Carl Bachman Kharazmi, as managing director and global head of cloud engineering and platforms earlier this year.

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  • StanChart Profits Surge on Lower Credit Impairments

    StanChart Profits Surge on Lower Credit Impairments

    Significantly lower credit impairments coupled with positive business momentum led to a surge in Standard Chartered’s pre-tax profits for the third quarter.

    Standard Chartered posted $1.075 billion in pre-tax profits for the third quarter, according to its latest results, marking a 44 percent year-on-year increase.

    Not unlike its regional peers throughout the year, the reduction of credit impairments – 70 percent to $107 million compared to $353 million in the same period last year – was a significant contributor to the improved bottom line.

    In addition to an improved balance sheet, the broader business experienced positive momentum with net interest income up 7 percent to $1.735 billion and other income also up 7 percent to $2.03 billion.

    We delivered a return to top-line growth in the third quarter and achieved further progress against our strategic priorities, with a strong performance in our Financial Markets and Trade businesses and ongoing positive momentum in Wealth Management, said Standard Chartered chief executive Bill Winters.

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  • StanChart Profits Surge on Lower Credit Impairments

    StanChart Profits Surge on Lower Credit Impairments

    Significantly lower credit impairments coupled with positive business momentum led to a surge in Standard Chartered’s pre-tax profits for the third quarter.

    Standard Chartered posted $1.075 billion in pre-tax profits for the third quarter, according to its latest results, marking a 44 percent year-on-year increase.

    Not unlike its regional peers throughout the year, the reduction of credit impairments – 70 percent to $107 million compared to $353 million in the same period last year – was a significant contributor to the improved bottom line.

    In addition to an improved balance sheet, the broader business experienced positive momentum with net interest income up 7 percent to $1.735 billion and other income also up 7 percent to $2.03 billion.

    We delivered a return to top-line growth in the third quarter and achieved further progress against our strategic priorities, with a strong performance in our Financial Markets and Trade businesses and ongoing positive momentum in Wealth Management, said Standard Chartered chief executive Bill Winters.

  • StanChart Inks Buy-Now-Pay-Later Deal in Indonesia

    StanChart Inks Buy-Now-Pay-Later Deal in Indonesia

    The bank’s branch in Indonesia has announced a partnership to offer Buy Now, Pay Later (BNPL) loans to the mass market segment via digital channels.

    Standard Chartered will offer small-ticket loans to customers in Indonesia via its partnership with Kredivo – one of the country’s largest and fastest-growing digital credit platforms, the bank announced on Thursday.

    While Standard Chartered already enjoys a strong position in the retail affluent segment, we are strengthening and expanding our distribution channels to serve mass-market customers more efficiently,» Jeffrey Tan, Standard Chartered head of Consumer, Private and Business Banking (CPBB), Indonesia, said,

    Customers can enjoy a fully digital onboarding and credit application process, with no face-to-face verification requirement, via Kredivo’s coverage of retailers and AI-driven credit scoring capabilities.

    The bank hopes to ride on the accelerating adoption of digital financial services in Southeast Asia’s most populous nation, as well as improving market sentiment and retail sales as vaccination and pandemic-related metrics continue to improve, leading to higher demand for loans.

    This announcement follows Standard Chartered’s recent partnership with BNPL platform Atome to deliver a wide range of financial services to consumers and merchants across key markets in Asia.

    Kredivo has also been expanding of late – in August, the company launched in Vietnam through a joint venture with Phoenix Holding, a family investment company based in the country. FinAccel, Kredivo’s parent company also announced plans to go public via a $2.5 billion SPAC merger. The firm had raised US$90 million in 2019 during a Series C funding round to double down on its Southeast Asian expansion plans.

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  • StanChart Nets Ex-Safra Singapore CEO

    StanChart Nets Ex-Safra Singapore CEO

    Standard Chartered has hired the former Singapore chief executive of J. Safra Sarasin to lead its South Asia private banking segment.

    Vinay Gandhi joins Standard Chartered as its regional head, ASEAN and global head, global South Asian community, private banking, according to a statement, subject to regulatory approval.

    Based in Singapore, Gandhi will report to global head of affluent coverage Raymond Ang when he joins the bank in the first quarter of 2022.

    Seasoned Private Banker

    Gandhi has 30 years of financial experience, most recently with J. Safra Sarsin where he was last its Singapore CEO and Asia deputy CEO.

    Previously, he also worked for UBS Wealth Management, Deutsche Bank and Citi Private Bank.

    Gandhi’s profound knowledge of affluent clients in Standard Chartered’s footprint markets and proven track record in leading effective teams will be a strong addition to our team, Ang said in the statement.

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  • StanChart Enters BNPL Space With Atome Investment

    StanChart Enters BNPL Space With Atome Investment

    The bank has entered a 10-year multi-product strategic partnership with Buy Now Pay Later (BNPL) brand Atome to deliver a wide range of financial services to consumers and merchants across key markets in Asia.

    The partnership, which aims to deliver mobile-first financial services for consumers across Asia, includes a planned $500 million financing to support Atome Financial to expand its regional ecosystem of merchants and customers.

    The partnership will initially include BNPL services, targeting to roll out in Indonesia, Malaysia, Singapore and Vietnam in the next few months, and later expand to include digital lending products, according to an announcement on Wednesday.

  • StanChart Announces Details on Digital Bank Venture with NTUC

    StanChart Announces Details on Digital Bank Venture with NTUC

    A StanChart veteran has been appointed to lead its digital-only bank in Singapore. Standard Chartered Singapore’s head of consumer, private and business banking, Dwaipayan Sadhu, has been appointed CEO of the bank’s new digital venture with NTUC Enterprise, details of which were released on Monday.

    Sadhu, who has more than two decades of experience across wealth management, payments, deposits, consumer lending, and digital banking, will hold both roles concurrently while transitioning to his new position by the end of the year.

    Standard Chartered will take a 60 percent stake in the venture, worth S$144 million ($107.28 million), with the NTUC’s enterprise arm taking the remaining 40 percent stake, worth S$96 million.

    Singapore is Standard Chartered’s second-largest market after Hong Kong. The bank announced plans for the digital venture with NTUC about a year ago, soon after it obtained the Significantly Rooted Foreign Bank (SRFB) status in Singapore, which gives it significant advantages such as the ability to set up a digital-only unit, lower amounts in paid-up capital and a greater number of places of businesses.

    Four other digital banks, which obtained licenses under a different process, are set to be launched in the republic in the coming year.

    With the new digital bank, Standard Chartered will be the only entity to operate a virtual bank in the region’s two largest hubs. In Hong Kong, it runs Mox – jointly owned with telecom firms PCCW and Hong Kong Telecom, and online travel agency trip.com.

  • StanChart Exec Joins Blockchain Startup

    StanChart Exec Joins Blockchain Startup

    Taipei-headquartered XREX has named a managing director in Singapore as it sets its sights on expanding its platform in the region.

    Taipei-headquartered XREX has appointed Christopher Chye as managing director of XREX Singapore and director of product. In this dual role, he will oversee XREX’s businesses and operations in Singapore and play an instrumental role in bringing new value propositions to XREX’s clients, the startup announced on Tuesday.

    Chye joins from Standard Chartered Bank, where he held roles in commercial banking, consumer banking, wealth management and financial crime compliance. He was also a pioneer of Standard Chartered’s digital bank venture in Singapore, where he led the bancassurance, rewards and loyalty, and brand and marketing pillars, and was executive director at its regional CEO office. He was previously a  management consultant with KPMG.

    In a separate announcement, XREX said it raised $17 million in pre-Series A funding led by CDIB Capital Group. The funds will be used to apply for financial licenses in Singapore, Hong Kong and South Africa, and partner with banks and financial institutions, like payment gateways.

    Many of our team members are from or have lived in the markets where we serve. We keenly understand the struggles faced by many cross-border merchants who lack safe access to US dollar liquidity, XREX CEO and cofounder Wayne Huang, said in the announcement.

    XREX was launched in 2018 to drive financial inclusion in emerging markets by leveraging blockchain technology.

    The company uses blockchain technology to solve dollar liquidity shortage issues in emerging markets, and has products like a payment escrow service and crypto-fiat exchange platform.

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  • StanChart Exec Joins Blockchain Startup

    StanChart Exec Joins Blockchain Startup

    Taipei-headquartered XREX has named a managing director in Singapore as it sets its sights on expanding its platform in the region.

    Taipei-headquartered XREX has appointed Christopher Chye as managing director of XREX Singapore and director of product. In this dual role, he will oversee XREX’s businesses and operations in Singapore and play an instrumental role in bringing new value propositions to XREX’s clients, the startup said on Tuesday.

    Chye joins from Standard Chartered Bank, where he held roles in commercial banking, consumer banking, wealth management, and financial crime compliance. He was also a pioneer of Standard Chartered’s digital bank venture in Singapore, where he led the bancassurance, rewards, and loyalty, and brand and marketing pillars, and was executive director at its regional CEO office. He was previously a  management consultant with KPMG.

    In a separate announcement, XREX said it raised $17 million in pre-Series A funding led by CDIB Capital Group. The funds will be used to apply for financial licenses in Singapore, Hong Kong, and South Africa, and partner with banks and financial institutions, like payment gateways.

    Many of our team members are from or have lived in the markets where we serve. We keenly understand the struggles faced by many cross-border merchants who lack safe access to US dollar liquidity,» XREX CEO and cofounder Wayne Huang, said.

    XREX was launched in 2018 to drive financial inclusion in emerging markets by leveraging blockchain technology.

    The company uses blockchain technology to solve dollar liquidity shortage issues in emerging markets and has products like a payment escrow service and crypto-fiat exchange platform.

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  • Standard Chartered Adds ASEAN Private Banker

    Standard Chartered Adds ASEAN Private Banker

    Standard Chartered added a private banker focused on the south and southeast Asia market, joining most recently from Bank of Singapore.

    Standard Chartered Private Bank appoints Lawrence Goh as managing director and deputy market head for ASEAN and South Asia, according to a statement.

    Based in Singapore, Goh reports to Cedric Lizin, regional head, private banking ASEAN & South Asia and global head of global South Asian community.

    Goh has 20 years of experience in the financial sector including five in asset management and the last fifteen in private wealth management, specifically in the ASEAN region. He was most recently at Bank of Singapore where he spent 12 years covering various southeast Asia markets. Previously, he also worked for Citi Private Bank covering ultra-high net worth individuals and families in Singapore, Malaysia, Brunei and Australia.

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  • StanChart to Launch Green Branch

    StanChart to Launch Green Branch

    Standard Chartered is planning to open a green branch in Hong Kong as part of its ongoing push for sustainable finance.

    The new branch will be fully paperless and offer a wide range of green banking products, according to Standard Chartered’s Hong Kong chief executive Mary Huen during a media briefing.

    Funds held in green deposits will only be used to finance projects that help reduce pollution, such as renewable energy installations.

    Standard Chartered’s green branch launch is in line with China’s climate change ambitions with Beijing pledging last year to achieve carbon neutrality by 2060.

    In June, the Hong Kong Monetary Authority also said it would allocate more to stocks and bonds that consider environmental, social, and governance (ESG) factors.

    With the promotion by the governments and the strong demand of customers, we believe in the huge opportunities arising from green finance businesses such as green bonds, green loans and green deposits. This is why we believe it would be a good idea to have a green branch,» Huen said. «The green branch concept will hopefully help to bring awareness that companies and individuals can help to contribute to sustainability.

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  • StanChart Nabs HSBC Private Banker

    StanChart Nabs HSBC Private Banker

    Standard Chartered Private Bank has expanded its Southeast Asia unit with the addition of a relationship manager from rival HSBC.

    Nipud Sud joins Standard Chartered Private Bank as an executive director and relationship manager, according to a note, effective August 2.

    Based in Singapore, Sud reports to senior client partner Suresh Nair who joined the bank in January this year and reports to private banking team lead of Singapore and Malaysia Adeline Chow.

    Sud has 18 years of banking experience, including ten in private banking with Citi, J.P. Morgan and, most recently, HSBC covering ASEAN and Hong Kong clients.

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