Standard Chartered has created a new client-focused unit within its Financial Markets business to provide a comprehensive range of services including optimisation of pricing and execution, access to liquidity hubs, client clearing, and an array of portfolio services within the derivatives market.
As part of Standard Chartered’s strategy of staying relevant to its clients and being responsive to their evolving needs, the Execution, Clearing, Liquidity and Portfolio Services unit (also known as ECLiPSe), will help the Banks’ clients meet the challenges brought about by global derivatives regulation and the increased costs of operating in the over the counter (OTC) derivatives market.
Standard Chartered are also pleased to announce the appointments of Andrew Sterry and Luke Brereton as Co-Heads of ECLiPSe. Reporting to Neh Thaker, Global Head, Options Trading & Platforms, Andrew and Luke are based in London and Singapore, respectively, where they can optimally engage clients across the Bank’s footprint.
Andrew brings to the Bank a wealth of experience in client servicing and delivering technology solutions honed over years of working in leading financial institutions, including Deutsche Bank, Lehman Brothers, and Citigroup. He was most recently European Head of OTC Clearing at Citigroup based in London, where he led the interpretation of the impact of European regulation on clients and architected the business strategy.
Luke also joined Standard Chartered from Citigroup in London, where he was European Head of Origination for Citi Futures and OTC Clearing. Luke is a specialist in OTC derivatives, having been instrumental in leading the sales effort for client clearing services, and growing OTC derivatives outsourcing services during his previous roles at RBS and ABN AMRO, respectively.
Supporting Andy and Luke in this initiative is Brett Reeves, who is Head of Technical Sales. Brett is based in London and was most recently Director of OTC Client Clearing at Commerzbank AG.
Commenting on the appointments, Neh Thaker said, “The OTC derivatives market is going through an unprecedented change. We see a need to help our clients navigate the myriad regulatory changes and focus on optimising the efficiency of their derivatives execution and ongoing portfolio management. The new client services unit led by Andrew and Luke will enable us to offer an enhanced service to our clients. This confidence is built upon our strong balance sheet and stable credit rating, coupled with an extensive footprint, which we believe will differentiate Standard Chartered from our peers.”