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(Adds further details on Allen, background)
By Lawrence White and Olivia Oran
LONDON, Dec 1 (Reuters) - Standard Chartered hashired Barclays' top regulatory lawyer Chris Allen asits new general counsel, clients and products, sources withdirect knowledge of the matter said on Thursday.
Allen will join StanChart on Jan. 16 and oversee legalmatters across all the company's main business units includingcorporate and investment banking, commercial banking, privatebanking and wealth management, one of the sources said.
He will be based in Singapore and report to the bank's mostsenior lawyer, general counsel David Fein, the same source said.
Barclays and Standard Chartered declined to comment.
Allen is serving out a notice period at Barclays, where heis the bank's Group regulatory counsel, and will leave the banksoon, another of the sources said.
Standard Chartered faces a number of legal issues, mostnotably in the U.S. where it remains under supervision overlapses in controls over transactions involving Iran and othercountries.
The bank has also referred to U.S. authorities allegedimpropriety at an Indonesian power plant company that the bank'sprivate equity arm invested in.
Allen's hire comes amid broader job cuts at StandardChartered as Chief Executive Bill Winters attempts to cut costs.Reuters reported on Nov.29 the lender would slash around 10percent of staff in its investment banking unit.
Allen joined Barclays in 2004 from law firm Baker &McKenzie, and in his current role at the lender oversees itsregulatory affairs.
(Reporting By Lawrence White and Olivia Oran; Editing by SusanFenton and Susan Thomas)
