Aachi will be a member of StanChart's financial markets management committee and will report directly to Lenny Feder, group head of financial markets. At Deutsche Bank, Aachi had been co-head of equity structuring and head of retail and private banking coverage. He will continue to be based in Singapore.
Clearly, StanChart's strong retail presence across Asia will play to Aachi's experience and the seniority of the position will give him a greater hand in strategic decision making. "I will be kicking off with a team of over 50 people and I am very confident that we will rapidly increase the value for our clients in every asset class," he says.
Aachi had been at Deutsche since 1997 when he joined the relative value group in Hong Kong. His experience spans a wide range of products, including fixed income, credit, currency, equity, commodity and hybrid derivatives.
In a second hire, StanChart has brought in Vincent Van Pelt from Bear Stearns as global head of equity derivatives and commodities. In this new position, Van Pelt will have responsibility for all trading, risk and product activities, as well as joint responsibility for the sales teams.
StanChart has created these businesses during the past two years and, the bank says, they have now grown to the point where they need more skilled leadership. Van Pelt, who will move from London to Singapore, will also join the financial markets group's management committee and report to Feder.
Van Pelt spent 14 years at Bear Stearns, most recently as co-head of European equities and was a member of the bank's European executive committee. He has a track record in building businesses, having developed Bear's equity derivatives franchise in Europe from a start-up to the bank's most profitable non-US business.
"The equity derivatives and commodities markets are growing rapidly in Asia and the Middle East," says Van Pelt. "Our client footprint in these regions is unrivalled and we have an opportunity to deliver a world-class product to our customers."