Standard Chartered hired an MD in UBS' London investment bank and moved him to Singapore
Standard Chartered is planning to rapidly expand its private banking team in Singapore, adding up to 50 relationship managers in the city for Chinese clients. Its investment bank in Singapore is getting some love too; the bank recently hired a UBS MD that spent the last decade in London.
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Dan Folke Persson announced on LinkedIn yesterday that he's joining Standard Chartered as chief risk officer for its corporate and investment bank (CIB), and chief risk officer for Europe, the Americas, MENA and South Asia. He was most recently chief risk officer for UBS' investment bank but was also previously global head of market risk for the bank.
Persson also headed risk for UBS' non-core and legacy unit, charged with winding down thousands of applications as the bank integrated Credit Suisse's technology. The bank anticipates that it will have fully integrated Credit Suisse by the end of this year.
It's not Persson's first time being moved to Asia. He was moved from Europe to Hong Kong when he was promoted to MD, becoming global head of equities and EM market risk at UBS.
Standard Chartered has been hiring in the front office too. Jeremy Low joined Standard Chartered as its global head of oil and gas M&A from Houlihan Lokey this week. He'll be staying in London for the role, however.
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