In this newly created position, Sallnow-Smith will be responsible for the governance, strategy and financial performance of the markets in Northeast Asia. Based in Hong Kong he will report to Kai Nargolwala, the bankÆs group executive director.
ôNicholas is a highly experienced senior executive whose background matches our businesses and footprint,ö says Nargolwala. ôHis experience will provide an invaluable wealth of management strength to support our continuous drive for sustainable financial performance.ö
Based in Asia for more than 13 years, Sallnow-Smith was made chairman of the board of The Link Management Limited and an independent non-executive director of the company in April this year. Before that, he worked with Hongkong Land Holdings Limited as chief executive for seven years, reporting on strategic and operational issues and responsible for all investor relations matters in public markets. He also has a diverse finance background in Asia and the UK, including five years with Jardine Matheson Limited as group treasurer.
Sallnow-Smith spent the early years of his career in the British Civil Service, where he worked for Her MajestyÆs Treasury in Whitehall, London from 1975 to 1985. Before moving into the corporate sector in 1987, he had also worked with Lloyds Bank for two years.
In recent years, Standard Chartered has been expanding aggressively in the region. To quote an example, following the successful acquisition of Korea First Bank, it announced its plan to fully acquire Hsinchu International Bank in Taiwan last year, which marked the first time that a foreign bank would gain control of a Taiwanese bank.
The new appointment makes a lot of sense as the bank tries to continue its expansion path in this part of the world.