Within days of the announcement of raised charges on banks in the U.K., talk of at least one London-based bank relocating elsewhere has emerged.
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.
Standard Chartered paid top managers $36.6m in 2014, a 23% decline, after executive directors relinquished bonuses because of the U.K. bank’s poor performance.
Standard Chartered has announced the appointment of three external advisor members to its Board Financial Crime Risk Committee.
Standard Chartered’s departing chief executive, Peter Sands, was paid $5.1m (£3.5m) last year despite opting not to take a bonus under the bank’s long-term share plan because of its poor financial performance.
Working far longer hours to bring home a fraction of previous pay.
Mystery number one at Standard Chartered is why chief executive Peter Sands was awarded a bonus in the first place. Sands, in common with all executives apart from new-ish finance director Andy Halford, has waived his award to “show leadership”.
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.
But still likely to provoke a row.
It’s a boardroom “refresh”, says Standard Chartered chairman Sir John Peace.
Standard Chartered has announced further Board changes and several appointments to key leadership roles.
Gordon Dyal, the co-chairman of Goldman Sachs' investment banking division, has decided to retire, according to a company memo seen by Reuters.
The Bank of England will this week reveal a tougher set of stress tests for the nation’s banks that could put Standard Chartered under pressure to raise capital and place more lenders under scrutiny.