Ashish Malhotra has been promoted to head of global bond syndicate at Standard Chartered, a spokesperson for the bank has confirmed. Malhotra joined Standard Chartered earlier this year as head of bond syndicate for Asia. He will continue to be based in Hong Kong.
Prior to joining Standard Chartered, Malhotra was head of debt capital markets for Asia at Bank of America Merrill Lynch. His departure from the US bank was surprising, as he left shortly after being promoted.
Aaron Russell-Davison, who was previously global bond syndicate head and acting head of capital markets for Southeast Asia, has become the head of capital markets for Southeast Asia, the spokesperson confirmed.
According to a source, Southeast Asia is becoming a more important region for the bank, and it made sense to split the global bond syndicate and Southeast Asia capital markets responsiblities between two people. Both Malhotra and Russell-Davison report directly to Anand Kumar, Standard Chartered’s global head of capital markets.
Standard Chartered’s senior management team has experienced some changes in recent months. Kumar took over from his predecessor Carsten Stoehr in October, when Stoehr was appointed global head of financial market sales in what was effectively a bigger role. Stoehr replaced Christian Wait, who left the bank.
Prior to that, there was also movement on the debt capital markets side. In July, Peter Szekely, previously global head of high-yield debt capital markets, became head of debt capital markets for Southeast Asia, while Robert Mason, who was previously head of Southeast Asia high-yield debt capital markets, was promoted to global head of high-yield DCM.