Standard Chartered Hires RBS’s Willett as Head of European M&A
Standard Chartered Plc (STAN), Britain’s second-largest bank by market value, named Tom Willett as head of mergers and acquisitions for Europe.
Willett, 44, joins from Royal Bank of Scotland Plc, where he was chairman of corporate finance for Europe, the Middle East and Africa before the U.K.’s largest state-owned lender shuttered parts of its investment banking division in January. Before that, he ran European mergers and acquisitions at ABN Amro Bank NV, the Dutch lender acquired by RBS in 2007.
Willett will be based in London and starts on Oct. 1, said Shaun Gamble, a Standard Chartered spokesman. Willett will report to Andrew Suckling, who was named global head of M&A last month.
While Standard Chartered is headquartered in London, the bank gains most of its revenue in Asia and the Middle East. The M&A operation advises companies on cross-border deals between Asia Pacific and the rest of the world. The lender was fined $340 million by U.S. regulators last month over claims it helped sanctioned nations, including Iran, to illegally funnel money through the U.S.
Willett declined to comment. Gamble declined to comment beyond confirming the appointment.
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