HONG KONG, Nov 30 (LPC/Reuters) – Standard Chartered has announced changes to its corporate finance group as part of a move to cut headcount in its global corporate and institutional banking division, according to an internal memo issued on Tuesday and sources with direct knowledge of the matter.

As a result of the changes, which come into immediate effect, some senior members of the corporate finance team reporting to global head Sumit Dayal will take on additional responsibilities.

Sanjay Chowdhry, who was global head of leveraged finance, will become global head of the newly combined leveraged finance and financing solutions business.

Surya Bagchi, who headed financing solutions, will replace Ravi Suri as global head of project and export finance. It is not clear what Suri’s new role will be.

Steve Aloupis, head…