MOVES-Standard Chartered hires new head of wealth management business

SINGAPORE, June 2 (Reuters) - Standard Chartered has appointed Marc van de Walle, a senior executive from Asia-focused Bank of Singapore, as the global head of its wealth management business, which manages retail affluent clients.

Van de Walle was most recently the global head of products at the Singapore-based private bank, a unit of Oversea-Chinese Banking Corp.

He will report to StanChart's regional CEO of Greater China and North Asia, the lender said in a statement on Tuesday.

StanChart said Didier von Daeniken, who has headed the bank's private banking and wealth management businesses since 2016, will focus on managing the private bank.

In an interview with Reuters last August, Daeniken had said StanChart was targeting expanding its private banking assets by 50% to about $100 billion in three to five years. StanChart is a relatively small player in the private banking business compared with UBS. (Reporting by Anshuman Daga; editing by Jason Neely)