Press Release
Standard Chartered makes senior appointment to drive strong client revenues in the Middle East and North Africa
Region: Middle East & Pakistan, Africa Published by:
Hsueh Mei TAN
Date:
05 June 2009
5 June 2009, Singapore – Standard Chartered continues to attract talented senior professionals in the marketplace. The bank today announced a senior hire, David Law who will join the bank on 1st September as the Managing Director and Regional Head of Origination and Client Coverage (OCC) team for the Middle East and North Africa (MENA), reporting to V.Shankar, Member of the Standard Chartered Group Management Committee and Group Head of Origination and Client Coverage.
David will be based in Dubai and form a key member of the Bank’s MENA Regional Management Committee. He joins us from Morgan Stanley where he was the Chairman of Investment Banking for MENA. He has a broad banking background in M&A, private equity, leveraged finance and equity capital markets and was previously responsible for building several businesses across Europe and the Middle East. He has over 18 years of banking experience including at Goldman Sachs and UBS, prior to his career with Morgan Stanley.
The MENA region is core to Standard Chartered’s footprint and wholesale banking strategy. Standard Chartered Bank has long standing client relationships in the region. The Bank has been supporting clients in the UAE for more than 50 years and has had a presence in Qatar, Bahrain and Jordan since 1920. MENA is a core strategic market for Standard Chartered and the UAE is one of the Bank’s top five by operating profit. Earlier this year, Standard Chartered announced income growth of more than 71% from its wholesale banking business in the region. The Bank’s operating profits increased by more than 100% across the region.
“We are happy to welcome David Law to Standard Chartered. His rich experience in building businesses coupled with his strong banking and leadership skills makes him an excellent addition to the Bank’s Origination platform. I am confident that David’s expertise will enable us to continue to deepen key client relationships in our fast growing and profitable MENA franchise,” said V Shankar.
For further information please contact:
Tan Hsueh Mei
Wholesale Banking Corporate Affairs
Tel: +65 6725 7729
E-mail: Tan.Hsueh-Mei@sc.com
Valerie Tay
Wholesale Banking Corporate Affairs
Tel: +65 6725 7792
E-mail: Valerie.Tay@sc.com
Note to editors:
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Group derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has over 1,600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs more than 70,000 people, nearly half of whom are women. The Group’s employees are of 125 nationalities, of which about 70 are represented in the senior management.
For more information, please visit: www.standardchartered.com.
About Standard Chartered Origination and Client Coverage (OCC) Team
Standard Chartered’s Origination and Client Coverage (OCC) team is at the fore-front of the Bank’s wholesale banking strategy. OCC acts as a partner to the Bank’s clients by working with clients to understand their business strategies and needs to offer them the products and services they require to continue to grow their operations. This is done in conjunction with the wholesale banking product and industry teams.
The OCC strategy is built on three pillars that encompass deepening client relationships by providing value-added and strategic products to key clients; building local scale in key geographic markets by continuing to attract high quality, new Local Corporate clients and by implementing broad and sophisticated product capabilities.
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