Standard Chartered Names Raza Jafree as Global Head of Private Client Sales

Post by : Saif

Standard Chartered has appointed senior banker Raza Jafree as its new global head of private client sales, a move that shows the bank is increasing its focus on very wealthy clients and family offices around the world. The announcement marks an important leadership step as the bank connects its investment banking and wealth businesses more closely.

Jafree joined the bank earlier this month and will be based in Hong Kong, one of Asia’s most important financial centers. He comes from UBS and brings nearly 30 years of experience working with large private clients and global investors. Before UBS, he also worked for many years at Credit Suisse. His long background in private banking and client advisory work makes him a key hire for Standard Chartered’s new strategy.

The bank said his role will sit inside a new partnership structure that links its corporate and investment banking arm with its wealth and retail banking division. In simple words, this means the bank wants different departments to work together when serving ultra-high net worth clients and single-family offices. These are clients with very large pools of money who often need complex services, including investments, business advice, global financing, and wealth planning.

Modern wealthy clients no longer want just one product from a bank. They want a full package. For example, a business owner may want help raising capital, managing personal wealth, planning succession for family assets, and investing across countries. By joining teams across divisions, the bank hopes to offer smoother and faster service instead of making clients speak to many separate departments.

Jafree will lead a global sales team under this combined structure. He will report to two senior leaders — one from the corporate and investment banking side and one from the wealth banking side. This dual reporting line reflects the shared responsibility model the bank is building for its top-tier clients.

This appointment also shows how competitive the global private banking space has become. Big international banks are racing to attract and keep ultra-rich clients, especially in Asia and the Middle East, where private wealth has grown quickly over the past decade. These clients bring not only deposits and investments but also large deal opportunities and long-term relationships.

Hong Kong is a strategic base for this role because it connects mainland China, Southeast Asia, and global capital markets. Many family offices and wealthy investors operate from the city. By placing Jafree there, Standard Chartered is signaling that Asia will be central to its private client growth plans.

From an editorial point of view, this move is less about one executive and more about direction. Banks are changing how they serve wealth. The old model separated investment banking from private banking. The new model blends them. Wealthy clients today often run businesses, invest globally, and manage complex family structures. They expect banks to understand the full picture.

Leadership hires with deep relationship experience are therefore becoming more valuable than ever. A banker with decades of client trust can open doors that marketing alone cannot. That is why global banks often compete hard to recruit senior figures from rival firms.

For Standard Chartered, which has strong roots in Asia, Africa, and the Middle East, the challenge will be execution. Building joint teams is easier on paper than in daily practice. Different banking units often have different cultures and targets. Success will depend on how well these groups truly cooperate.

Still, the appointment of an experienced private banking leader suggests the bank is serious about building an integrated service model for the world’s richest clients. If done well, it could deepen relationships and increase long-term revenue stability.

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