Standard Chartered's CEO Slated to Step down in June
- Standard Chartered Plc’s acting chief executive officer Peter Sands has announced that he will be stepping down.
Standard Chartered Plc’s acting chief executive officer, Peter Sands, has announced that he will be stepping down as the bank’s leading executive and leaving the board of directors in June.
Mr. Sands was appointed as chief executive back in 2006. This past July, Standard Chartered reiterated its backing for Mr. Sands following unrelenting pressure from shareholders over waning profits of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term products as Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term fell to historically low levels.
The leadership shuffle was just one of several moves today, as many other directors were also reportedly stepping down. The man selected to replace him is William Winters, the ex co-chief of JPMorgan's investment bank. Mr. Winters will join Standard Chartered on May 1, whereupon he will step into office as the chief executive in June, to be based out of London.
Peter Sands, CEO, Standard Chartered
According to John W. Peace, Standard Chartered chairman, in a recent statement on the move, “Bill is a globally respected banker and has the right experience and skills to drive the group’s new phase of growth. He brings substantial financial experience from leading a successful global business and has an exceptional understanding of the global regulatory and conduct environment.”
“Peter and the team have forged Standard Chartered into one of the truly great opportunities in global banking. It’s a special bank. I’m struck by its amazing network, respected brand and powerful client relationships across the countries which will drive the future growth of the world economy,” added Mr. Winters in an accompanying statement.
Executive Board Shrinks
Standard Chartered has also revealed that Mr. Peace will be relinquishing his role in 2016, following a transition at the British bank. Standard Chartered’s chief executive in Asia, Jaspal Singh Bindra, will also be leaving the board in April. Finally, as part of an initiative to shrink its board of directors to 14, long-time directors Ruth Markland, Paul Skinner and Oliver Stocken will also step down this year.
Standard Chartered Plc’s acting chief executive officer, Peter Sands, has announced that he will be stepping down as the bank’s leading executive and leaving the board of directors in June.
Mr. Sands was appointed as chief executive back in 2006. This past July, Standard Chartered reiterated its backing for Mr. Sands following unrelenting pressure from shareholders over waning profits of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term products as Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term fell to historically low levels.
The leadership shuffle was just one of several moves today, as many other directors were also reportedly stepping down. The man selected to replace him is William Winters, the ex co-chief of JPMorgan's investment bank. Mr. Winters will join Standard Chartered on May 1, whereupon he will step into office as the chief executive in June, to be based out of London.
Peter Sands, CEO, Standard Chartered
According to John W. Peace, Standard Chartered chairman, in a recent statement on the move, “Bill is a globally respected banker and has the right experience and skills to drive the group’s new phase of growth. He brings substantial financial experience from leading a successful global business and has an exceptional understanding of the global regulatory and conduct environment.”
“Peter and the team have forged Standard Chartered into one of the truly great opportunities in global banking. It’s a special bank. I’m struck by its amazing network, respected brand and powerful client relationships across the countries which will drive the future growth of the world economy,” added Mr. Winters in an accompanying statement.
Executive Board Shrinks
Standard Chartered has also revealed that Mr. Peace will be relinquishing his role in 2016, following a transition at the British bank. Standard Chartered’s chief executive in Asia, Jaspal Singh Bindra, will also be leaving the board in April. Finally, as part of an initiative to shrink its board of directors to 14, long-time directors Ruth Markland, Paul Skinner and Oliver Stocken will also step down this year.