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Restructuring at Standard Chartered (2888) has elevated Benjamin Hung Pi-cheng, the current regional chief executive officer of Greater China and North Asia, to oversee the bank's business in Asia.
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Standard Chartered announced an updated organization structure which will further sharpen its focus on individual clients, expand its business network and create a leaner organization.
The group announced the changes under the new Consumer, Private and Business Banking business and Asia region, as well as a key appointment in the Europe and Americas region. The new structures and related appointments are effective on 1 January 2021.
The group's new combined Asia region brings together the group's ASEAN and South Asia, Greater China and North Asia regions.
The bank believes the new region will help cluster key markets and pursue strategic opportunities in China's Greater Bay Area, and capitalise on wealth and business opportunities in the area.
Meanwhile, DBS said it will allow employees to work remotely up to 40 percent of the time to better address massive changes brought about by Covid-19.
The company's Future of Work task force found that more than four in five of its 29,000 staff were able to work seamlessly remotely, the Singapore lender said yesterday.
