THE axe continues to fall across corporate Singapore with Standard Chartered (Stanchart) sacking several staff members from the group's consumer banking division last week.

Senior people in Hong Kong and Taiwan were affected by the bank's 'restructuring exercise' but most of the 35 job cuts were made here. One to go was Singapore-based Sunil Thakar, the head of risk assurance for the group consumer bank. Stanchart has more than 5,300 people based in Singapore.

Hong Kong-based Helen Kan, global head of customer and frontline experience, and Hong Kong-based Arthur Chan, who reports to Ms Kan, have also been asked to go, sources say. Sources say the restructuring exercise - which gained traction about a month ago - includes areas such as wholesale banking, but is particularly 'prevalent' at the group consumer bank.

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