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StanChart names new group head for retail banking

Reuters
A logo of Standard Chartered is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip

HONG KONG (Reuters) - Standard Chartered (STAN.L) has named veteran banker Viswanathan Ramachandran as group head of retail banking, the lender said on Tuesday, a new role that underscores its focus on growing the business amid intense competition.

Ramachandran, who has been with StanChart for three decades and was its chief risk officer for retail banking since 2014, will help strengthen the bank's retail banking presence in Asia, Africa and the Middle East, it said in a statement.

StanChart has pledged to invest more in its retail banking business with an aim to grab a bigger share of the market. It appointed Ben Hung, CEO for the Greater China and North Asia, as its global retail banking boss last year.

(Reporting by Sumeet Chatterjee, Editing by Sherry Jacob-Phillips)