HONG KONG Standard Chartered Plc (STAN.L) has appointed a new global head of loan syndication, the second change to the London-based bank's management of its corporate finance business in as many months following the departure of the global head of leveraged finance syndication in October.
Cristian Jonsson will be the new global head of loan syndications, effective January 1, the London-based bank announced Tuesday. He replaces Philip Cracknell, who will stay on until March, the bank said.
Tuesday's announcement is the latest in a series of changes to Standard Chartered's debt capital markets business since the appointment of former Credit Suisse banker Carsten Stoehr as head of global capital markets in June.
Reuters reported on October 17 that Peter Kay, global head of leveraged finance syndication, had quit the bank. He had been involved in, though not solely responsible for, a $1 billion loan to the Indonesian chairman of London-listed Bumi Plc BUMIP.L that became problematic after the bank failed to get other lenders on board.
Jonsson, who joined the bank in 2009 and who will report to Stoehr, is now global head of bond syndicate and regional head of capital markets Southeast Asia for Standard Chartered. The former role will be taken over by Aaron Russell-Davison, who is head of Asian debt syndicate.
(Reporting By Lawrence White; Editing by Muralikumar Anantharaman and Matt Driskill)