By Sabela Ojea 



  Standard Chartered PLC said Thursday that its organization structure will change from Jan. 1, 2021, as it is integrating its Asian network business and creating a new unit named Consumer, Private and Business Banking with the aim of growing its affluent and retail customer-facing businesses. 


  The bank said its Greater China and North Asia, ASEAN and South Asia regions will merge and that the retail banking, private banking and wealth management units will disappear. 


  Through these changes, the lender will create a leaner organization and improve the group's ability to serve clients where it has distinctive competitive advantages, it said. 


  The FTSE-100 bank also said that Tracy Clarke, regional Chief Executive of Europe and Americas and CEO of Private Bank, will retire at the end of the year. Chief Executive of Americas, Torry Berntsen, will take up leadership for the Europe and Americas regions. 


  Shares at 0721 GMT were down 1.90 pence (2 U.S. cents), or 0.5%, at 384.80 pence. 


  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix