Carsten Stoehr resurfaces at StanChart as global capital markets head

Carsten Stoehr has joined Standard Chartered as its global head of capital markets, ending the bank’s year-long search for a replacement for Christian Wait, who moved into a different role as global head of financial markets sales in June last year.

Stoehr started on June 1 in Hong Kong and reports to Lenny Feder, group head of financial markets, wholesale banking. He joins after a 17-year long career at Credit Suisse where he was most recently head of Asia-Pacific fixed income and a member of the global fixed income management committee and Asia-Pacific management committee.

Philip Cracknell, Standard Chartered’s global head, loan syndications, acted as the interim global head of capital markets while the bank was searching for Wait’s replacement.

Stoehr left Credit Suisse in November last year, during a time when the Swiss bank’s fixed income business was in the midst of a restructuring. Just prior to his leaving, the bank had announced the closure of its Taipei bank branch, which housed its domestic fixed income business. (Credit Suisse retains its equities and investment banking business in Taiwan.) Stoehr was replaced by Brian Yoon, who assumed the new role as head of Asia-Pacific fixed income, in addition to his responsibilities as head of Asia-Pacific emerging market trading.

At Standard Chartered, Stoehr takes on a broad remit, which includes responsibility for the bank’s sizeable loans business, debt capital markets, securitisation and project finance. His role excludes equities, and sales and trading.

Although his new role is a global one, Standard Chartered is very much an emerging markets-focused house with a strong presence in Asia, the Middle East and Africa. “It looks like a good move for Stoehr — Standard Chartered is a known presence in Asia, though less so in Europe or the US,” said one banker.

“I am extremely excited about Carsten joining Standard Chartered. He is one of the most impressive bankers in Asia and his extensive experience and strong leadership will take our leading capital markets business to the next level,” said Feder in a release.