Standard Chartered's M&A head Tom Willett departs in restructuring effort

Standard Chartered's global head of mergers and acquisitions, Tom Willett, is leaving the bank as part of a restructuring effort. Willett has been with the bank since 2012 and is one of the senior dealmakers exiting during this transition. The restructuring aims to enhance the bank's global banking operations. Henrik Raber will lead a new team that merges M&A advisory and global credit markets, following a management reshuffle in April. Earlier changes included combining the industries coverage team with the M&A advisory team, resulting in over 20 job cuts but increasing the M&A team size to more than 100 bankers.