Standard Chartered beefs up loan syndicate team

StanChart hires Samuel Tan as director, loan syndicate and distribution, based in Singapore.

Standard Chartered has hired Samuel Tan as a director of loan syndicate and distribution, based in Singapore.

He started work at the bank on Monday and joins from Nomura, where he was previously a vice president, fixed income syndicate, also based in Singapore.

Tan is filling a newly created position within the loans syndication team and reports to Amit Lakhwani, Standard Chartered's head of loan syndicate & distribution for Asia.

Standard Chartered has been active on the loans front in Asia and made a grab for market share after the global financial crisis, when many European lenders withdrew from the region.

But that dynamic appears recently to have shifted slightly as some European banks return, having fixed their balance sheets at home.

According to market sources, Standard Chartered has been paring down its loan positions since Cristian Jonsson took over as the bank's global head of loan syndications last year.

At the time of his appointment, rival bankers said he had been appointed to instil more of a "sell down" discipline within the bank's loan portfolio.

Jonsson, who was previously the global head of bond syndicate at Standard Chartered, replaced Philip Cracknell, who retired from Standard Chartered last year.

Standard Chartered was first on the US dollar-denominated loan league table for Asia ex-Japan in 2013, with a market share of 7.2%, Dealogic data shows. It is ranked second so far this year with a market share of 14.2%, after HSBC, which has an 18% market share.

¬ Haymarket Media Limited. All rights reserved.
Share our publication on social media
Share our publication on social media