(Bloomberg) -- The global head of Standard Chartered Plc’s mergers and acquisitions advisory is leaving after more than a decade with the lender.
Tom Willett’s departure comes after the bank revamped its investment banking teams in September, combining its global credit markets business and its mergers and acquisition advisory teams under Henrik Raber. Raber will assume the role of head of M&A advisory following the restructure of the new global banking division, according to an internal memo which was confirmed by a spokesman.
Willett joined Standard Chartered in 2012 as the bank’s head of mergers for Europe and was appointed to run global M&A in 2014, with stints in Singapore and London. He had worked at various financial services companies including RBS.
In April, Standard Chartered streamlined its management structure and created a corporate and investment banking unit led by Roberto Hoornweg and Sunil Kaushal.
The lender cut 20 roles across places like London and Singapore and restructured its M&A team by absorbing bankers focused on industry coverage, Bloomberg News reported in August.
Standard Chartered is in the midst of a cost-savings program, labeled as Fit for Growth, which aims to save $1.5 billion through more than 200 internal initiatives. The British bank’s share price has risen about 47% this year.
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