Former Standard Chartered China Chief Credit Officer Frankie Chow has agreed to join Australia and New Zealand Banking Group (ANZ), according to people familiar with the situation.
According to a Reuters report, Standard Chartered announced Chow’s resignation in an internal email to its China staff on 17th March, but failed to state where Chow would be moving to.
Sources told Reuters that Chow will join ANZ for a senior position in China.
If confirmed, Chow will join former colleague Christine Ip, previously head of consumer banking at Standard Chartered and now ANZs China Chief Executive.
This will be a timely boost for ANZ, with possible back-office job cuts being hinted at by local media and a number of damages suits against the bank relating to the collapse of the broking firm Opes Prime still continuing.