StanChart veteran Lim Cheng Teck to retire

Standard Chartered Bank announced on Monday (April 25) that Mr Lim Cheng Teck, vice chairman of Asean region, is retiring from May 1.
Standard Chartered Bank announced on Monday (April 25) that Mr Lim Cheng Teck, vice chairman of Asean region, is retiring from May 1. PHOTO: ZAOBAO

SINGAPORE - Standard Chartered Bank announced on Monday (April 25) that Mr Lim Cheng Teck, vice chairman of Asean, is retiring from May 1.

There will be no replacement for Mr Lim, 56, when he steps down, said the bank.

Mr Lim has been with StanChart for over 28 years, holding many senior roles. These include chief executive of Singapore and China, and regional chief executive of Asean.

StanChart said that in these roles, Mr Lim grew the bank's franchise and built its brand in some of its fastest growing and important markets.

Upon his retirement, Mr Lim will support Ajay Kanwal, StanChart's regional chief executive for Asean and South Asia, as senior advisor where he will focus on key client relationships.

He will also remain as president commissioner of PT Bank Permata Tbk in Indonesia.

Mr Lim said in the statement that two areas of his "incredible journey" with StanChart stand out:

"I am proud to have led the growth of the bank's China franchise and the transformation of our Singapore business."

jkoh@sph.com.sg