Standard Chartered Bank appointed a new chief executive for the retail banking business to succeed Karen Fawcett, who will leave the bank at the end of the year.
Karen Fawcett joined Standard Chartered Bank in 2001 and acted as CEO retail banking and head of brand and marketing. She will retire from her position with effect on December 31, 2017, the bank said in a statement today.
London-based Standard Chartered appointed Benjamin «Ben» Hung Pi Cheng (pictured above) as successor to Fawcett. Hung currently holds the title of regional CEO, Greater China & North Asia (GCNA).
Private Banking and Wealth Management
As regional CEO, GCNA, Hung will remain responsible for the successful delivery of the retail banking strategy of the company, together with Anna Marrs and Sunil Kaushal, regional CEOs for ASEAN & South Asia (ASA) and Africa & Middle East respectively.
Tracey McDermott will assume responsibility for brand and marketing on November 30, 2017. She is group head of corporate, public and regulatory affairs.
New Responsibilities for Singapore CEO
In a further adjustment to the management team, Marrs will transfer her responsibilities as regional CEO to Judy Hsu (pictured above), CEO, Singapore. Marrs will focus on commercial and private banking as well as wealth management.
Hsu will take over responsibility for the ASA region in the fourth quarter of 2018 and will take on additional responsibility for Malaysia, Thailand and Vietnam. In keeping with her new responsibilities, Hsu will join the group management team with immediate effect.
