Standard Chartered Bank has appointed veteran banker Patrick Lee as its chief executive officer in Singapore, it said yesterday.
Mr Lee joined StanChart in 2012 and his most recent position was head of global banking for Singapore, for which he will remain responsible until a successor is announced.
The 46-year-old will be based in Singapore and report to Ms Judy Hsu, regional CEO for Asean and South Asia. Ms Hsu will hand over her Singapore responsibilities to Mr Lee. The appointment is subject to regulatory approval.
StanChart Singapore had been on the hunt for a new CEO since late last year, after Ms Hsu was promoted to take over responsibility for the Asean and South Asia region fully by the fourth quarter of this year.
Ms Hsu herself was appointed head of the Singapore franchise in late 2015, after running the bank's global wealth management unit for about six years.
Mr Lee has 25 years of experience in the banking industry, including corporate and investment banking, and has worked in Singapore, Hong Kong and London. Before joining StanChart, he was managing director and head of investment banking for South-east Asia at Nomura. Prior to that, he was head of investment banking for Singapore and Malaysia at UBS.
In a media statement, Ms Hsu said: "We are very pleased with the appointment of Patrick as the CEO of the Singapore franchise. He has vast experience in banking and in managing local and regional businesses, and has been a key member of our country management team since he joined the bank in 2012.
"With his in-depth knowledge of our franchise and strong track record in developing high-performance teams, we are confident that Patrick will effectively lead our team in Singapore as we focus on our next phase of growth."
Ms Hsu added that the bank remains "highly committed to Singapore, which has been a core market for Standard Chartered".
She said: "This is where all our global businesses operate and is a strong talent base for our business. We continue to leverage Singapore as an international financial centre and a gateway to Asia."