Standard Chartered Names Benjamin Hung As Hong Kong Chief Executive
HONG KONG -(Dow Jones)- Standard Chartered PLC (STAN.LN) said Wednesday its head of consumer banking in Hong Kong, Benjamin Hung, will succeed Peter Sullivan as the lender's Hong Kong chief executive, effective Jan. 1.
Sullivan will retire as chief executive Dec. 31, the U.K.-based lender said in a statement.
The bank said Hung's appointment still needs regulatory approval. Standard Chartered said in the statement that Hung joined the bank in 1992 and led the local consumer banking operation to a record profit in the first half.
(END) Dow Jones Newswires