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Standard Chartered continues to make senior hires and appointments in its Asian investment banking operations.
The UK-headquartered bank said yesterday that it has appointed Petter Sternby as head of its Southeast Asia financial institutions (FI) strategic coverage and hired Sumit Choudhary for a newly created role as head of emerging companies research in India.
The moves follow recent high-level additions to its corporate finance, debt capital markets, foreign exchange and research teams.
Sternby started on April 8 and is based in Singapore, where he will be responsible for deepening relations with the bank’s strategic FI clients in Southeast Asia and also provide investment banking solutions and coverage to its Asian FI clients, according to the statement.
Sternby is a 20-year industry veteran who was most recently at Nomura, where he headed the Asia FIG team. Before that, he was head of Nordic investment banking with Lehman Brothers in London, and also previously held roles at Morgan Stanley, where he worked for 12 years.
In his new job at Standard Chartered, Sternby reports to James Pearson, global head of FI strategic coverage.
“[Sternby’s] extensive experience in financial institutions coverage and investment banking in Asia will be invaluable in enhancing the bank’s client focused strategy,” said Pearson in the statement. “The bank is well positioned in Southeast Asia and we look forward to [his] leadership as we further expand our business in these rapidly evolving markets.”
Choudhary started work on April 15 and is based in Mumbai. He reports jointly to Jeremy Sutch, head of emerging companies research, and Rahul Singh, head of equity research, India.
Standard Chartered now covers all the important industrial sectors on the Indian stock exchanges, covering about 130 stocks, according to a spokesperson. The bank prides itself on its research of small- and mid-cap equities in Asean and Greater China.
Choudhary spent seven years on the buy-side at Och-Ziff covering the full range of Indian companies, and earlier worked in the investment banking division of Citi in India, where he was involved in private equity capital raising and M&A.
“[Choudhary’s] wealth of experience with the wide range of companies in India is an asset to the team, which is going to greatly increase our regional coverage,” said Sutch in a statement.
