Tuesday, 30 May 2023

Standard Chartered appoints new consumer, private and business banking head in China

5 min read

Standard Chartered Bank (China) (SCB China) announced the appointment of Richard Li as head of consumer, private and business banking (CPBB), China.

Li has worked in the banking sector for nearly 30 years and is a renowned banker in the industry. He has made very long-time endeavours in the Chinese market, building up extensive experiences in retail banking and wealth management with excellent performances. Prior to this appointment, Li had held a number of important management positions in well-known financial institutions, including executive vice president, chief client officer, and head of retail banking and wealth management.

Samir Subberwal, head of CPBB, Asia said, “China is one of the most important markets for our business. We continue to see tremendous opportunities to grow our retail and wealth businesses, adapting to the changing needs of clients in this fast-changing market. Richard’s rich experience in and knowledge of the Chinese market will add a new dimension to help us better meet our clients’ needs”.

In the 2021 Annual Results report, Standard Chartered announced a $300 million investment into our China-related businesses to capture the opportunity from China’s continued opening, including the Renminbi, Belt and Road initiative, Greater Bay Area (GBA), onshore capital markets and mainland wealth, and aim to turbocharge our affluent and wealth management businesses through differentiated propositions and service.

Jerry Zhang, executive vice chairman and CEO, Standard Chartered China, and China and Japan Cluster CEO, Standard Chartered Bank said, "I am very pleased that Richard is joining us and leading our CPBB business. His insights of the market and his wealth of experience will help us better serve our customers and meet their fast-growing international wealth management needs and comprehensive financial service needs. We look forward to continuously exploring the vast opportunities in the Chinese market and bringing our vision forward, which is to be the best international banking partner for Chinese families and SME customers”.

Li graduated from Shanghai Jiao Tong University and Shanghai University of International Business and Economics, with a Bachelor of Engineering and a Master of Economics. This appointment is subject to SCB China Board’s approval.

Jessie Li, who presently leads our CPBB business in China, will relocate to Singapore and lead our CPBB business in Singapore.

Re-disseminated by The Asian Banker

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