StanChart names new Europe and UK CEO

LONDON, June 30 (Reuters) - Standard Chartered has appointed Margaret Harwood-Jones as its CEO for Europe and the UK, a newly created role overseeing both markets as the bank tries to expand its business there, the lender said on Tuesday.

The appointment comes as StanChart tries to win more cross-border business from big companies and financial institutions, as well as grow its wealth management business to earn more fee-based income. 

• The London-headquartered lender also said it has named Jörg Hessenmüller as CEO for SCB AG, the Germany-based entity for its continental European business.

• The bank has been expanding in Europe recently, in the last two years opening new offices in Switzerland and Brussels as well as a new entity to offer digital asset custody in Luxembourg.

• Standard Chartered and its rival HSBC have both increasingly focused on the biggest clients in Europe in recent years where they can earn fees from advising on day-to-day services such as lending, cash management and foreign exchange, pulling back from retail banking where they struggled to compete with incumbent domestic players.

• "Europe and the UK are core to our global strategy, and there is significant opportunity to accelerate growth, leveraging our unique cross-border capabilities and platform," Harwood-Jones said.

(Reporting by Lawrence White; Editing by Susan Fenton)