Standard Chartered to streamline business, cut senior roles

StanChart said it would merge its retail, private and business banking divisions together under the leadership of current ASEAN and South Asia CEO Judy Hsu.

LONDON: Standard Chartered said on Thursday it would merge several of its businesses and reduce the number of top executives as the Asia and Africa-focused bank seeks to trim costs and create a leaner business.

StanChart said it would merge its retail, private and business banking divisions together under the leadership of current ASEAN and South Asia CEO Judy Hsu; and it will bring together its two Asian units together under Greater China and North Asia head Ben Hung.