Stephen Richards-Evans, global head of UHNW and market head of Indonesia at Standard Chartered Private Bank, is leaving the firm.
He has decided to “pursue another opportunity externally,” according to a bank spokesperson.
“The UHNW [ultra high net worth] team is now aligned to a regional management structure – that is, each of the current regional heads of the UHNW team will report to their private banking head,” she said.
There will be no replacement for Richards-Evan’s global role, but his position as Indonesia market head will be taken by Andrew Ho.
The bank emphasised that Indonesia is one of its focus markets, and Ho will “continue to expand this business to capture its potential.”
Ho joins from UBS where he worked for 15 years, most recently as Indonesia country team chief.
Separately, a new position has been created for the non-resident Indian (NRI) business.
Vishal Jain is appointed managing director and head of the Asian team for the bank’s global South Asia community (Gsac), “a key cornerstone for building out the global NRI strategy,” said the spokesperson.
He will assume the leadership of the NRI Singapore team from David Koay and the NRI Hong Kong team from Wellington Ng. Koay and Ng will remain at the bank and “continue their primary roles,” the spokesperson noted.
Jain was most recently managing director at Barclays Wealth Management, where he spent eight years and helped set up the onshore business in India.
He will report to Srinivas Siripurapu, who joined StanChart from Barclays in July to become regional head of Asean and South Asia as well as global head of Gsac.
Both Jain and Ho will start their new Singapore-based jobs in November.