Peter Sands, the outgoing chief executive of Standard Chartered, is waiving his bonus for 2014 after the bank reported a 30% fall in profits and embarked on further cost-cutting measures.
With a banking heritage spanning more than 150 years, Standard Chartered has developed extensive global reach and a strong position in emerging markets and new trade corridors.
But still likely to provoke a row.
It’s a boardroom “refresh”, says Standard Chartered chairman Sir John Peace.
Not many bankers will strip off and sing in a perfect falsetto in public.
Sad to report.
Steven Vincent had just left a money exchange in the southern Iraqi city of Basra when a group of men in police uniforms drove up in a white truck and grabbed him and his translator.
High street banks are being urged to show restraint on pay as they prepare to declare the size of their bonus pots for 2014, at a time when the sector faces fresh scrutiny over its conduct.
Standard Chartered Plc, the U.K. bank that’s cutting $400 million of costs, will consider starting a desk in Dubai for Japanese corporate clients that wish to expand business in the Middle East.
Lloyds Banking CEO Antonio Horta-Osorio is among Standard Chartered shareholders’ preferred candidates to take the bank’s top job, according to two people with knowledge of the matter.
Standard Chartered Bank has announced the appointment of Heidi Toribio as managing director and head of the Financial Institutions practice for the Bank in the Americas.