Standard Chartered, the UK-based emerging markets specialist, has appointed the head of American Express's former private banking subsidiary, which it bought for £1.1bn (€699.6m) in September, as its new European chief executive.

Richard Holmes, chairman and chief executive of American Express Bank, will replace Brendon Hopkins, who is being redeployed as group head of strategy, West. Holmes will report to Gareth Bullock, group executive director at Standard Chartered.