Press Release
Standard Chartered hires Lennart Augustsson to expand functional programming capabilities
Bank steps up with rigourous application of computer science research
Region: Greater China and Japan, Middle East & Pakistan, Korea, South East Asia, India and South Asia, Americas, Europe, Africa Published by:
Jai GANESH
Date:
08 October 2008
Capital markets
8 October 2008, London - Standard Chartered Bank today announced its intention to further develop its use of functional programming with the appointment of Lennart Augustsson as Developer, Modelling and Analytics Group, Financial Markets.
This newly created position reflects the Bank’s keen interest in expanding functional programming practices within the Bank. These practices currently underpin a new suite of tools being developed by the modelling team to provide enhanced business support to the Bank’s financial markets business.
Lennart’s appointment is also an indication of Standard Chartered’s pursuit of top-end computer scientists to compliment its hiring of quantitative modellers in its Modelling and Analytics Group.
Lennart brings world class computer science skills in the field of functional programming and will help drive the Group’s strategy to enhance control and productivity of new tools. He will be involved in projects covering automatic code generation, efficient use of multi-core processors, high performance computing & general purpose computing on graphical processing units (GPGPU) for computational finance.
“I am delighted to join a financial institution that understands the value of bringing together top minds in quantitative modelling and computer science” said Lennart. “This creates an exciting environment where different styles of thought processes are merged for overall enhancement of client solutions.”
“Standard Chartered ‘s Modelling and Analytics Group is one of the most important pillars of our derivatives business. We are confident that computer scientists like Lennart will complement our existing structure and improve our profitability” said Remy Klammers, Global Head of Fixed Income Trading. “We are excited to have Lennart on board. He is well known in his field and we are hoping to hire more individuals with similar background in Singapore and London.”
Lennart was formerly with Credit Suisse where he worked in modelling on declarative language for creating pricing models. Previously, he was a lecturer at Chalmers University of Technology in Sweden and a co-founder for a start-up company in chip design, Sandburst Inc.
Lennart will be based in London and will report to Marten Agren, Global Head of Modelling and Analytics Group.
For further information please contact:
Jai Ganesh
Wholesale Banking Corporate Affairs, Singapore
Tel: +65 67257752 or Mobile: +65 96573837
E-mail: M-Jai.Ganesh@standardchartered.com
or
Corina Blum-Evans
Wholesale Banking Corporate Affairs, London
Tel: +44 20 7885 7261 or Mobile: +44 78 8169 4437
E-mail: Corina.Blum-Evans@standardchartered.com
Note to editors:
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of whom are women. The Group’s employees are of 115 nationalities, of which 60 are represented among senior management.
For more information, please visit: www.standardchartered.com
About Financial Markets
Financial Markets at Standard Chartered is a globally integrated business spanning Asia, Africa, the Middle East, the UK and US. Financial Markets includes trading functions such as equities, commodities, fixed income trading (rates, foreign exchange and credit) an integrated sales platform, our capital markets business and structured products. Our capital markets business, comprising Fixed Income, Asset Securitisation and Loan Syndications, consistently dominates league tables and rankings in markets core to our footprint. We are the market leader in local currency bond issues and rank third in loan syndications in Asia-ex Japan (source: IFR and Thomson Financial league tables). We have a particular competitive advantage in Islamic financing and cross border issuance capabilities. We are first in currency derivatives and third in interest rate derivatives (source: Asia Risk End User Survey 2008). We are a major participant in the global rates and FX markets, actively trading in over 100 onshore and offshore currencies. We are a market leader in the provision of emerging markets liquidity and have pioneered the development of new FX Options markets and products.
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