WorldNews Posted February 26, 2015 Posted February 26, 2015 [attach=full]18087[/attach]The chief executive of Asia-focused bank Standard Chartered will step down in June, the company said Thursday, following poor results, job cuts and fines for failing to detect possible money-laundering. "Peter Sands will stand down from the Board and as Group Chief Executive in June 2015," the British bank said in a statement, adding that he would be replaced by former JP Morgan co-CEO Bill Winters. The bank's chairman John Peace praised Sands, who became the group's chief executive in 2006, saying that he had presided "over a period of huge change and challenge for the entire industry". The bank, which focuses on emerging markets, was under pressure from shareholders and the move was welcomed on the London stock exchange where its shares jumped 1.36 percent to 938.90 pence at 0900 GMT. Continue reading... Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.