Standard Chartered announced today that it is combining Securities Services (currently within Transaction Banking) with Portfolio Risk Management in the Financial Markets business to form the new Financing and Securities Services.
Margaret Harwood-Jones, currently Global Head of Securities Services, will co-head the new unit with Emmanuel Ramambason, currently Global Head of Portfolio Risk Management. Both Margaret and Emmanuel will report to Roberto Hoornweg, Global Head of Financial Markets.
Roberto said: “This combination will allow greater alignment of our Prime business within Portfolio Risk Management, and harmonise our offering in financing, custody and clearing, as well as fund services for our clients. It will also further enhance the synergy between Financial Markets and Transaction Banking within our Corporate, Commercial & Institutional Banking business, to ensure we are fully equipped, relevant, and best-placed to service our clients.”
Financing and Securities Services will include all existing Securities Services activities including Custody, Clearing, Fiduciary and Fund Services, and Securities Lending, as well as all Portfolio Risk Management activities across Prime Services, Money Markets, Central Funding Desk, Credit Valuation Adjustment and the Modelling and Analytics Group.