As part of the change announced yesterday, the global head for private banking and wealth management at StanChart will concentrate entirely on running the private bank. Meanwhile, the bank has named a global head for wealth management. Both moves start from 6 July.

Standard Chartered has named Marc van de Walle as global head, wealth management, with effect from 6 July, subject to regulatory approval. De Walle will be based in Singapore and will report to Benjamin Hung, regional chief executive for Greater China and North Asia, CEO of retail banking and wealth management.

De Walle joins from Bank of Singapore, where he was most recently senior managing director and global head of products and concurrently head of wealth management for OCBC. He has run global products that support both Bank of Singapore’s private banking and OCBC’s retail clients, corporate strategy and business transformation.

As part of the shift, Didier von Daeniken, who has been global head, private banking and wealth management, will focus on running the private banking business from 6 July. Having led both businesses since joining the bank in 2016, he has taken the private bank through a transformation and achieved three straight years of income growth.

The banking group, which earns the bulk of its revenues in Asia, Africa and emerging markets, reported its 2019 results here.