Standard Chartered CEO contender Cooper to leave in overhaul as UK bank changes top Greater China jobs
- Simon Cooper, who has led the corporate banking division for eight years, will leave the UK lender to pursue other interests, bank says
- Judy Hsu will move to Hong Kong to take on extra responsibility in consumer, private and business banking in Greater China and North Asia
Simon Cooper, who has led the firm’s corporate, commercial and institutional banking division for eight years, will leave the London-based banking group to “pursue other interests,” according to a statement. Roberto Hoornweg and Sunil Kaushal will replace him as they take charge of the newly-renamed corporate and investment banking unit, the bank said.
As part of the broader changes, Judy Hsu, head of consumer, private and business banking arm, will take on additional responsibility for Greater China and North Asia. Hsu will move from Singapore to Hong Kong.
Ben Hung, who had previously been responsible for Greater China and North Asia as CEO of Asian business, is becoming president of international. Tanuj Kapilashrami, group head of human resources, will also oversee strategy, corporate affairs, brand and marketing, supply chain management, and property.
Hoornweg, who was most recently global head of the bank’s financial market unit and comes from a background in fixed income trading, will move to Dubai from Singapore to take up his new role. Kaushal, the bank’s head of business in Africa and the Middle East in Dubai, will move to Singapore.
The changes come weeks after Winters said Standard Chartered’s share price was “crap” despite the bank reporting consensus-beating profits and a fresh US$1 billion share repurchase programme. The moves would “ensure clear accountabilities” and “bring renewed intensity” to efforts to improve returns, according to the statement.
