Standard Chartered, the FTSE-100 financial institution, has kicked off a seek for a successor to its veteran finance chief.
Sky News has learnt that the rising markets lender is working with Russell Reynolds Associates, the search agency, to determine a alternative for Andy Halford.
City sources mentioned an appointment was prone to be made within the coming months forward of Mr Halford retiring later in 2023.
A former Vodafone govt, Mr Halford, who has been at Standard Chartered for almost a decade, can also be the senior impartial director of Marks & Spencer.
News of the search course of will nearly definitely imply that Bill Winters, Standard Chartered’s chief govt since 2015, is prone to stay in place for a minimum of one other two years.
That is as a result of the financial institution’s board wouldn’t need its two govt administrators to go away in fast succession, in keeping with one insider.
In March, the Financial Times reported that the financial institution had began making ready for Mr Halford’s “eventual departure”, prompting it to say it had not initiated any course of.
Headquartered in London, Standard Chartered makes the majority of its revenue in Asia, and in addition boasts an enormous presence in components of Africa.
Like most banks, it has benefited from rising rates of interest, and its shares have risen by almost a 3rd over the past yr.
A spokesman for Standard Chartered, which has a market worth of almost £17bn, declined to touch upon Thursday.
Source: information.sky.com”