Deutsche Bank’s David Murray, Tim Andrew to head equities in Standard Chartered

Standard Chartered is banking on the two latest additions to its team to grow its Asian business.

According to Bloomberg News, David Murray and Tim Andrew, formerly of Deutsche Bank, will join Standard Chartered as global head of cash equities and global head of equities research respectively.

The appointments are the latest step in the lender’s plans to bolster its Asian operations. The bank completed the acquisition of Cazenove Asia Ltd. from JPMorgan Cazenove Ltd. in January to help it build an equity capital markets and institutional brokerage business.

"Having now got the figureheads, Standard Chartered can now build the platform," said Andrew Sullivan, a sales trader at Mainfirst Securities Hong Kong Ltd. "They know the research side of the business very well. Having worked at Deutsche, they’ve obviously got a very good pedigree."

Andrew and Murray will be based in Hong Kong and will take their positions from December 21, according to an internal memo acquired by Bloomberg. Andrew was previously head of Asia Pacific equities and fixed-income research at Deutsche Bank, while Murray was the German lender’s head of Asia Pacific company research.