Standard Chartered bags M&A specialist

Standard Chartered Bank has hired the former regional legal director of Europe, the Middle East and Africa at Motorola to head its M&A legal division.

Palwinder Hare has replaced former division head James Ellington, who was promoted to group head of legal in December last year. The hire comes after Standard Chartered overhauled its legal function, combining wholesale banking with the central legal function in July this year.

Ellington said: “Since my appointment I’ve been looking to recruit my replacement. Palwinder has the perfect experience for the job. M&A is a significant part of what the legal department does so a high level of expertise is important.”

Hare, who joined independent bank Conister Trust from Motorola in March this year, will be responsible for global M&A activity, one of the seven legal sub-teams at Standard Chartered.

In 2005 the bank acquired Korea First, beating HSBC’s rival bid. More recently Standard Chartered acquired an 81 per cent share holding in Pakistan’s Union Bank, representing the first acquisition of a Pakistani bank by a foreign organisation.