Standard Chartered creates new head of RMB sales role

Standard Chartered has appointed Zhou Cheng Gang as head of renminbi (RMB) sales in a newly created role, based in Hong Kong.

Cheng Gang will be responsible for all RMB-related financial market operations globally, focusing specifically on RMB client advisory, RMB cash management and alternative financing solutions. He will report to George Sun, head of financial markets sales for Greater China and North-east Asia.

Cheng Gang joins from Pimco, where he had been head of China business development since May 2012. Previously, he was an executive director at Goldman Sachs and a director at Deutsche Bank.

Carsten Stoehr, global head of financial markets sales at Standard Chartered, says Cheng Gang's "depth of knowledge in the China market adds to the growth momentum in the bank's leading position in enabling our clients globally to benefit from the rapid internationalisation of the RMB".

Standard Chartered also announced the appointment of Terence Gan as head of financial markets rates sales. He will be based in Singapore and report to Stoehr. Gan joins from Bank of America Merrill Lynch, where he was head of rates sales for Asia.