Standard Chartered Plc is close to appointing Nicolo Salsano as the new chief executive of its continental European operations.
(Bloomberg) — Standard Chartered Plc is close to appointing Nicolo Salsano as the new chief executive of its continental European operations.
The banker, who currently heads HSBC Holdings Plc’s German operations, will be based in Frankfurt and spearhead Standard Chartered’s growth ambitions in continental Europe, people familiar with the matter said, declining to be identified because the information is private.
Salsano joined HSBC in 2018, overseeing global banking and commercial banking, after a short stint at China’s Anbang Insurance Group Co. Prior to that, he worked at Credit Suisse Group AG for 17 years in London, Hong Kong and Frankfurt and advised on a number of large transactions including Deutsche Bank AG’s €8 billion ($8.7 billion) rights issue in 2017.
He will take charge of a team of more than 200 people in Frankfurt, where Standard Chartered runs what it describes as one of its “fastest growing client franchises.” The unit also serves as the hub for the rest of Standard Chartered’s operations in the European Union, including its branches in France and Sweden.
Spokespeople for HSBC and Standard Chartered declined to comment.
Standard Chartered has grown staff numbers in Frankfurt in recent years as European regulators increase pressure on banks to move business to the single bloc after Brexit. In the past year, the German unit has begun to offer more investment banking products in order to grow further, according to the company’s latest annual report.
HSBC, by contrast, chose Paris as its main location in the region, with its German operations integrated into the French unit that’s in turn faced cuts.
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