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Standard Chartered merges top private bank & wealth mgt roles

By , 16 Dec 15

Standard Chartered Bank has combined the leadership of its private banking and wealth management divisions into a single global job, which will be taken on by Didier von Daeniken who will be based in Singapore.

Standard Chartered Bank has combined the leadership of its private banking and wealth management divisions into a single global job, which will be taken on by Didier von Daeniken who will be based in Singapore.

This bank said the newly created global role combines the leadership of its private bank and wealth management product and advisory services, to create greater alignment, while ensuring that the wealth management group continues to support the strong focus on affluent customers within the retail bank.

This appointment is subject to regulatory approval.

Von Daeniken will report to Anna Marrs, chief executive of commercial & private banking, and be responsible for executing the bank’s new strategy to grow the two businesses and achieve targeted assets under management growth of $25bn (£16.6bn, €22.9bn) by 2018.

“He joins the bank at a dynamic time, as we prepare to invest significantly in 2016 and beyond, to strategically grow our private banking and wealth management businesses and enhance our technology and platform capability, to provide an even better service to our clients,” Marrs said.

Von Daeniken joins Standard Chartered from Barclays, where he led their private banking business for Asia Pacific, Middle East and Africa. While there he was responsible for the development and implementation of Barclays’ wealth and investment management growth strategy in these regions, from 2007.

Prior to this, von Daeniken spent his career at Credit Suisse and held senior positions in Zurich, Geneva, Dubai, Istanbul and Singapore.

Standard Chartered said as a result of the change, Michael Benz’s role as global head of private banking, falls away and he will leave the bank. His last working day will be 18 December.

Tags: Private Banking | Singapore | Standard Chartered | Wealth Management

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.