Merging the two teams brings the loan distribution department of the UK-headquartered bank in line with prevailing industry practice among its competitors. ôThe move will bring greater efficiencies and synergies,ö says a source close to the development.
David Kempton has transferred from London to Singapore to take up the newly created role of head of loan syndicate and distribution. He will report directly to Philip Cracknell, Standard Chartered's Hong Kong-based global head of syndications.
Five regional head of loan distribution positions have been created as part of the restructuring. Each of these regional heads will report to a regional head of syndication.
The regional heads of loan distribution in Asia are James Bragg and Joanne Wong in Hong Kong, Yong Mee Ching in Singapore, and Vivek Gopalakrishnan in Dubai. In London the corresponding position is staffed by Josh Cohen and in New York it is covered by Jim Hughes.
The regional heads of syndication are Eric Chan in Hong Kong, Pat Waranimman in Singapore, Steve Perry in Dubai, Hiren Singharay in London and Steve Aloupis in New York.
Standard Chartered claims to be the most active arranger of syndicated loans in Asia, measured by both the number and volume of deals it has closed. It recently arranged a HK$6 billion ($774 million) loan for Wheelock and Company û the only blue-chip syndicated loan in Hong Kong to be handled by just one mandated lead arranger.