Standard Chartered appoints Group Head of Private Banking

Standard Chartered Shanghai Towers

Standard Chartered has appointed Michael Benz as the Bank’s new Group Head of Private Banking.

This appointment is effective 17 February 2014.

Benz joins Standard Chartered with a wealth of experience spanning more than 20 years in the Treasury, Asset Management and Private Banking industry. He was most recently the Designated Chairman for Asia at Julius Baer. Prior to Julius Baer, Benz was the CEO, Wealth Management (Asia-Pacific) at Bank of America Merrill Lynch where he was responsible for the bank’s wealth management business spanning Hong Kong, Singapore, Taiwan, California, India and Japan. In this role, he was instrumental for the successful sale and integration of the business into Julius Baer in 2013.

Prior to Bank of America Merrill Lynch, Benz spent thirteen years at UBS where he held a variety of roles ranging from Head of Group Treasury for Asia-Pacific between 1997 and 2000, European Investment Solutions of UBS Global Asset Management until 2002 and Asia/Pacific head for Products and Services at UBS Wealth Management in Hong Kong until 2010.

Since the inception of Standard Chartered’s Private Banking business in 2007 (through organic growth and the acquisition of American Express Bank Ltd), the Private Bank has continued to see strong year-on-year growth. It is currently one of the top ten global private banks in Asia with one of the widest pan-Asian private banking networks in the region.

Benz will be based in Hong Kong and report to Anna Marrs, who assumes the role of Group Head of Commercial and Private Banking Clients from 1 April 2014.

'We are very excited to have Michael on board. Standard Chartered’s footprint markets are expected to account for 60% of the global growth in High-Net-Worth-Individuals’ personal financial assets over the next three years. We have a tremendous opportunity to capture this growth, leveraging both Michael’s private banking expertise and Standard Chartered’s strong starting position. Furthermore, the Bank’s strategic focus and our recent reorganisation will enable the Private Bank to leverage world-class product capabilities and serve our clients as they grow both their businesses and personal wealth', said Anna Marrs.

image: © Standard Chartered

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