Jared Chase, group head, global markets trading and sales, is to leave Standard Chartered Bank to pursue other career interests, a spokesperson confirms. He had been with the bank for eighteen months, prior to which he worked for State Street.
“During his one and a half years with the bank, Jared and his team have delivered strong results and contributed to the overall performance of the wholesale banking business,” the bank says. “We wish Jared and his family the very best in his future endeavours.”
Effective July 5, his role will be divided between London-based Pam McGann, currently group head of audit, who becomes global head of asset and liability management (ALM) and regional markets, and Mike Bass, head of the interest rate derivatives business, who becomes global head, rates and FX, based in Singapore. Both positions report to Mike Rees, the wholesale bank’s chief executive officer, who is also based in Singapore.
Bass will be responsible for the performance of all global markets products. His reports include Nick Beecroft, global head of FX trading, who is profiled in the June edition of Profit & Loss. A replacement for Bass’ former role has yet to be decided, the bank says.
McGann will work directly with ALM country heads to deliver the ALM strategy, the bank says. McGann’s former position will be filled by David Fletcher, currently CEO in Bangladesh, who the bank says has extensive experience as a corporate banker. He will report to Mervyn Davies, group chief executive officer, Richard Meddings, group executive director, and the audit and risk committee. Fletcher’s successor in Bangladesh will be announced shortly, the bank says.
The changes come during a busy period for Standard Chartered, which has made a number of senior FX-related senior hires over the last year. Beecroft himself joined from Deutsche Bank last summer, and has recently been followed by Deutsche colleagues David Bee and Will Shropshire, head of FX trading in London and global head of spot and forward trading, and head of options trading in Asia respectively. Other recent hires have included Richard Leighton, joining as global head of FX options, and Michael Drennan as global head of hedge fund sales.