Standard Chartered values Hong Kong business, three senior executives arrive to stay long-term. Xu Zhongwei originally stationed in Singapore will lead Greater China and North Asia

HSBC (00005) recently announced a streamlined structure, further highlighting Hong Kong's special status as the core business of the group. Another local international bank, Standard Chartered Group (02888), also announced a series of new management appointments as early as March this year, reflecting the importance of the Hong Kong market and simplifying the regional structure. It is reported that several senior global business executives from Standard Chartered who have been reassigned to Hong Kong have recently arrived. Among them, Judy Hsu, the current Executive Director of Wealth Management and Retail Banking Business at Standard Chartered, who was originally based in Singapore, arrived in Hong Kong in mid-month and will also be responsible for leading the Greater China and North Asia regions in the future.

Streamlined Structure, Expanded Functions for Hong Kong Executives

Other global business executives reassigned to Hong Kong reportedly include Hong Ziyu, the Global Head of Private Banking at Standard Chartered, who also oversees Wealth Management and Retail Banking Business in Greater China and North Asia. He was originally based in Singapore as well.

As for Zhang Xiaolei, who was previously appointed as the Co-Chief Executive Officer of Standard Chartered's Financial Institutions Business globally (formerly the CEO of Standard Chartered Bank (China) and based in mainland China), she has also been stationed in Hong Kong and has recently taken up her new position.

It is reported that Standard Chartered has issued internal notices in recent months. In addition to the three senior global business executives reassigned to Hong Kong, the regional and functional scope of some Hong Kong executives has also been expanded. This move reflects the group's emphasis on the Hong Kong market. Through the arrangement of Hong Kong executives concurrently responsible for regional functions (double hatting), the streamlined structure can enhance efficiency. This includes Hui Wai, the former Head of Standard Chartered's Corporate, Financial Institutions, and Commercial Banking in Hong Kong, Taiwan, and Macau, who now holds the new title of Head of Standard Chartered's Corporate and Investment Banking Business in Hong Kong and Greater China.

A spokesperson for Standard Chartered responded to inquiries by stating that the bank's previously announced new appointments and personnel reassignments have been gradually implemented in recent months.

"Queen" of Wealth Management and Retail Banking with a Musical Background

According to information on the Standard Chartered website, Judy Hsu, the "Queen" of Wealth Management and Retail Banking, has over 30 years of experience in the banking industry, particularly in retail banking and wealth management. She joined Standard Chartered in 2009 as the Global Head of Wealth Management and became a member of the bank's highest-level management team, the "Management Team," in 2018. After being stationed in Hong Kong, Judy Hsu, as the Executive Director of Standard Chartered Hong Kong and the Executive Director of Greater China and North Asia, will report to Hui Wai.

Judy Hsu's background before joining the banking industry is quite legendary. According to public information, she was born in Taiwan and later moved to Canada. In the late 1980s and 1990s, under the name "Julia," she released Mandarin and English albums as a singer at various record companies. She then transitioned from music to business, working for many years at Citibank before settling in Singapore.

The "Management Team" led by Standard Chartered CEO Bill Winters currently consists of 14 senior executives, with 4 based in Hong Kong, including Hong Bizheng, the Executive Director of International Business at Standard Chartered, Judy Hsu, Hui Wai, and Acting Group Chief Operating Officer Darrell Ryman.

Interview and article by: Liu Meiyi