Standard Chartered Bank announced today the appointment of Jean Lu as Chief Executive Officer (CEO), China and Executive Vice Chairperson of the Board, with immediate effect.
In her new role, Jean will oversee the Bank’s operations in Mainland China and report to Mary Huen, CEO, Hong Kong and Greater China & North Asia (GCNA), Standard Chartered.
Jean succeeds Jerry Zhang, formerly Cluster CEO, China & Japan, and Executive Vice Chairperson of Standard Chartered China, who has been appointed Global Co-Head, Financial Institutions Coverage, and will be based in Hong Kong.
As a seasoned banker with 30 years of experience in the industry, Jean has held a number of senior management roles in major Chinese and international banks. Since joining the Bank in 2014, Jean has been in several leadership positions including Head of Corporate & Investment Banking (CIB) and Deputy CEO, Standard Chartered China, playing a pivotal role in turbocharging the growth of the Bank’s CIB business in China.
Under her leadership, its China CIB business has consistently been the top network income originator for the Group, and continues to be a leading player in Belt & Road and new economy projects, cross-border RMB services and sustainable finance.
Benjamin Hung, President, International, Standard Chartered said, “Mainland China is a strategically important market to Standard Chartered and we remain committed to its long-term development. Over the past decade, our China business has delivered strong growth and financial performance, strengthening our position as a leading international franchise. I would like to thank Jerry for her excellent leadership and contributions in leading our China business.”
“Jean has a proven track record in leading multiple teams to develop and grow our CIB business, creating value for our clients through innovative financial services. She has profound understanding of the opportunities brought about by China’s financial opening and new economy, as well as market dynamics and the needs of our clients. I look forward to the Bank’s continued success in Mainland China under Jean’s leadership,” he added.
Jean Lu, CEO, China and Executive Vice Chairperson of the Board of Standard Chartered China, commented, “I am honoured to take on this role and look forward to working closely together with the senior management team and all our colleagues in China. China’s ongoing financial opening and long-term growth prospects will continue to bring about significant opportunities for international financial institutions. Leveraging Standard Chartered’s unique advantages as a super-connector, we are committed to putting our clients at the heart of everything we do, continuously providing innovative products, services and solutions to our clients in, into, and from China. We will proactively promote opportunities for collaboration between China and the rest of the world, contributing to the high-quality development of the local economy and our franchise in China.”
According to the Bank’s latest half-year financial results, its China onshore income and underlying cross-border income achieved double-digit growth (excluding interest rate impact). The Bank also saw particularly strong growth of incomes in its China-ASEAN and China-Middle East corridors, both achieving double-digit growth in the first half of 2024.
