Richard Hill appointed new CEO of StanChart South Korea

Standard Chartered's chief financial officer in South Korea will replace retiring chief executive next month.

Richard Hill, currently Chief Financial Officer & Head of Strategy at Standard Chartered Korea Ltd will replace David Edwards as president and chief executive on 17 December, according to Standard Chartered Korea.

The retiring president Edwards will remain as non-executive Vice Chairman of Standard Chartered Korea, the company said in a report in Trading Markets.

Richard Hill joined Standard Chartered in Singapore in 2006 as chief financial officer and assumed the current position in Seoul in January last year.

"Richard has strong business acumen, and has played a key role in formulating our Korea strategy with David over the last two years," said Peter Sands, CEO of the British banking group.