Paul Skelton swaps HSBC for StanChart

The 28-year HSBC veteran joins rival in new role of global head of banking just a year after being named head of commercial banking for Asia-Pacific.

Standard Chartered has recruited Paul Skelton from rival HSBC for the new role of global head of banking, it announced on Thursday.

Skelton, who was named head of commercial banking, Asia-Pacific at HSBC 12 months ago, will join StanChart in Singapore in December. He will report to his former HSBC colleague Simon Cooper, the bank's chief executive for corporate and institutional banking.

Skelton will take responsibility for corporate and financial institution client relationships, StanChart said in a statement.

"We are organising ourselves around our clients, putting them front and centre of everything we do. This is reflected in our coverage model," Cooper said in the statement. 

"Paul will align and strengthen our coverage teams across International Corporates and Financial Institutions, directing our resources to deliver the Bank’s capabilities for our most important clients and, at the same time, making us easier to deal with," StanChart said

Skelton, who spent 28 years with HSBC, was promoted to his most recent role there to replace Noel Quinn, who went on to replace Cooper after the latter resigned. 

Skelton was previously regional head of commercial banking for HSBC Middle East and North Africa. Before that Skelton spent 13 years in the Asia-Pacific region holding a number of senior roles in HSBC's corporate and investment banking business.

Skelton has over 20 years’ experience dealing with corporate and institutional clients in Europe, Asia-Pacific and the Middle East.

HSBC moved to streamline its commercial banking division earlier this year, according to four people familiar with his move. Those changes saw the departure of Matthew Kirby, head of large corporate business for commercial banking in the Asia-Pacific region.

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