Standard Chartered Bank has appointed Didier von Daeniken as its new Global Head, Private Banking & Wealth Management. Von Daeniken will join the Bank in March 2016, and will be based in Singapore. This appointment is subject to regulatory approval.
This newly created global role combines the leadership of Standard Chartered’s Private Bank and Wealth Management product and advisory services, to create greater alignment, while ensuring that the Wealth Management group continues to support the strong focus on affluent customers within the Retail Bank. Reporting to Anna Marrs, CEO, Commercial & Private Banking, Didier will be responsible for executing the bank’s new strategy to grow the two businesses and achieve targeted AUM growth of USD25 billion by 2018.
“Didier is a highly experienced wealth expert, who has a deep understanding of the markets where we are present,” says Anna Marrs, CEO, Commercial & Private Banking at Standard Chartered. “He joins the Bank at a dynamic time, as we prepare to invest significantly in 2016 and beyond, to strategically grow our Private Banking and Wealth Management businesses and enhance our technology and platform capability, to provide an even better service to our clients,” she said.
Von Daeniken joins Standard Chartered from Barclays, where he led their Private Banking business for Asia Pacific, Middle East and Africa, and was responsible for the development and implementation of Barclays’ wealth and investment management growth strategy in these regions, from 2007. Prior to this, he spent his career at Credit Suisse and held senior positions in Zurich, Geneva, Dubai, Istanbul and Singapore.
As a result of this change, Michael Benz’s role as Global Head, Private Banking, falls away and he will leave the Bank. His last working day will be 18 December. “We thank Michael for his contribution to growing our Private Banking business over the past two years,” says Anna Marrs.
From now until March 2016 when Didier joins Standard Chartered, Anna Marrs will take on the additional responsibility of Interim Global Head, Private Banking and Judy Hsu will continue to lead Wealth Management in her full time capacity as CEO, Singapore.