Directorate Change

RNS Number : 7649T

Standard Chartered PLC

12 December 2011

 



Standard Chartered PLC appoints V. Shankar to the Board as Group Executive Director

The Board of Directors (the "Board") of Standard Chartered PLC (the "Company") today announces that Viswanathan Shankar (also known as V. Shankar) ("Shankar") has been appointed Group Executive Director of the Company with effect from 1 January 2012.

Shankar (53), a Singaporean, will continue to be based in Dubai, where he moved in May 2010 to become CEO, Europe, Middle East, Africa and Americas.

He joined Standard Chartered in 2001 and was appointed to the Group Management Committee in September 2007. He is also a Director of Standard Chartered Bank and Chairman of Principal Finance and the Standard Chartered Private Bank. Prior to his current position, he was Group Head of Origination and Client Coverage and served as Group Head of Corporate Finance. Before joining Standard Chartered, Shankar worked for Bank of America in Asia and the USA for 19 years.

Sir John Peace, Chairman of Standard Chartered PLC, said: "Shankar will be an excellent addition to the Board. He is one of our most experienced bankers who will carry great respect in this role. He remains the most senior international banking executive ever to be based in the Middle East, which is a strong statement of our commitment to the region and ensures that our senior leaders are positioned across our key markets."

Peter Sands, Group Chief Executive, commented: "I am delighted to welcome Shankar to the Board. He has been a valued member of the Group Management Committee and his addition will further strengthen the Board, particularly with his international outlook and client focused experience."

The Company confirms that there is no other information to be disclosed under the requirements of Listing Rule 9.6.13R in relation to this appointment.

The appointment has received the necessary regulatory approval.

For further information please contact:

Shaun Gamble, Senior Manager, External Communications

(w) [phone]

(m) [phone]

E-mail: [e-mail]

Notes to Editors

 

V. Shankar biography

Shankar is a member of the Group Management Committee and CEO, Europe, Middle East, Africa and Americas at Standard Chartered. Based in Dubai, he also serves as Executive Chairman of Principal Finance and Chairman of the Private Bank. He is a Director of Standard Chartered Bank.

Before joining Standard Chartered Bank in September 2001, Shankar was with Bank of America in Asia and USA for 19 years and his last position was as Managing Director - Head of Asia-Pacific Investment Banking and Chief Executive Officer of BA Asia Limited based in Hong Kong.

Shankar completed his Masters in Business Administration at the Indian Institute of Management, Bangalore and a Bachelors degree majoring in Physics at the Loyola College, Madras. He was a member of the task force constituted in 1995 by the Treasurer of the State of California to solidify the State's position as a financial center for the Pacific Rim.

In addition to his responsibilities at Standard Chartered, Shankar is a member of the Board of the Inland Revenue Authority of Singapore, the Board of Trustees of Singapore Indian Development Association (SINDA) and the National Integration Council. He was also a member of the Singapore Government's Economic Strategies Committee and Committee to develop the accountancy sector.

Shankar is married with one son and his interests include golf, cricket, tennis and modern art.

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for around 85,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered's heritage and values are expressed in its brand promise, 'Here for good'.

For more information please visit www.standardchartered.com

 

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