MANILA, Philippines - Standard Chartered Bank on Wednesday announced it has appointed Lim Cheng Teck as the Chief Executive Officer (CEO) for its ASEAN markets.
As CEO ASEAN, Cheng Teck will be in charge of delivering the bank's sharpened strategy for its operations in the region, which covers Singapore, Indonesia, Malaysia, Thailand, Philippines, Laos, Myanmar, Vietnam, Cambodia, Brunei and Australia.
The appointment is effective on May 1, 2014. He reports to Jaspal Bindra, Group Executive Director and CEO Asia, Standard Chartered PLC.
Cheng Teck is a veteran banker with 26 years of experience in Standard Chartered. He was CEO and Executive Vice Chairman of Standard Chartered Bank (China) Limited, and prior to China, he was CEO of Standard Chartered Bank, Singapore.
"We are pleased to announce the appointment of Cheng Teck as CEO of ASEAN where we are the only international bank to be present in all ten markets. Our ASEAN franchise is one of the eight key regions which the Bank is focusing on. It is an important region, contributing close to a quarter of the Group's total income in 2013. We are confident of ASEAN's growth potential and with Cheng Teck's appointment, our aim is to more effectively contribute to and grow with the region," Jaspal Bindra, Group Executive Director and CEO Asia, Standard Chartered PLC said.
For his part, Cheng Teck cited the opportunities in ASEAN.
"ASEAN has immense opportunities, with its 600 million strong population and steady economic growth; it has significant potential for the financial services industry. I look forward to leading this exciting franchise and drawing on the expertise of our 30,000 staff to provide innovative client-centric solutions," he said.
Cheng Teck was Chairman of Standard Chartered (Mauritius) Limited from 2008 to 2010 and has been a Non-Executive Director of Standard Chartered (Taiwan) Ltd. since July 2010.
A Master of Business Administration graduate from Brunel University, United Kingdom, Cheng Teck read his first degree (Bachelor of Arts) at the National University of Singapore.