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Press release

We’ve made updates to our Management Team

31 Oct 2017
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4 mins
Home > Press Releases > We’ve made updates to our Management Team

We’ve announced updates to a number of roles within our Management Team.

Karen Fawcett, CEO, Retail Banking and Group Head, Brand and Marketing will retire from the Group with effect from 31 December 2017. Karen joined Standard Chartered in 2001 and has had a successful career holding a number of senior positions, including leading the Transaction Banking business, developing the Group’s Retail Banking business, and leading recent work to redefine the Group’s brand and purpose. Karen will stand down from the Group’s Management Team on 30 November 2017, after transitioning her responsibilities to her successors.

Ben Hung, Regional CEO, Greater China & North Asia (GCNA) will take on the additional role of CEO, Retail Banking, on 30 November 2017. In this role, Ben will take over Karen’s responsibility for leading the development and implementation of strategy and ongoing product and technology improvements across Retail Banking. As Regional CEO, GCNA, he will remain responsible, together with Anna Marrs, Regional CEO ASEAN & South Asia (ASA), and Sunil Kaushal, Regional CEO, Africa & Middle East (AME), for the successful delivery of the Retail Banking strategy across our retail markets.

Tracey McDermott, Group Head, Corporate, Public and Regulatory Affairs, will assume responsibility for Brand and Marketing on 30 November 2017.

Anna Marrs took on responsibility as Regional CEO, ASA alongside her roles as CEO, Commercial Banking and CEO, Private Banking and Wealth Management in late 2016 at a time of significant change in that region. She will transfer her regional CEO responsibilities in two stages between now and the fourth quarter of 2018 to Judy Hsu, CEO, Singapore. Anna will continue to focus on Commercial and Private Banking and Wealth Management, building upon the progress made over the past three years in positioning the businesses for sustainable and high-quality growth.

Judy Hsu, CEO, Singapore, will take over responsibility for the ASA region in the fourth quarter of 2018.  In order to allow for a smooth transition, she will take on additional responsibility for Malaysia, Thailand and Vietnam, and join the Group Management Team, both with immediate effect. Judy will continue reporting to Anna in relation to her ASA region responsibilities and will also report to Bill Winters, Group Chief Executive, in relation to her responsibilities as a Management Team member.

All other Management Team roles remain unchanged.

Bill Winters, Group Chief Executive, said: “These changes ensure a smooth and orderly succession which will allow us to continue our unrelenting focus on delivering our strategy, capturing opportunities whilst driving efficiency, increased digitisation and better shareholder returns across our global and local businesses.

Karen has had a successful career in a number of roles over the last 16 years at Standard Chartered. Most recently she has been instrumental in developing and driving forward our retail strategy. We are very grateful to her for her contribution and wish her all the best for the future”.

As a result of these changes the Management Team comprises:

For further information please contact:
Jon Tracey, Global Head, Communications +44 (0)20 7885 7613
Mark Stride, Global Head, Investor Relations +44 (0)20 7885 8596

Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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