Directorate Change

RNS Number : 8167W

Standard Chartered PLC

04 August 2009

 



Standard Chartered Board Changes

Standard Chartered PLC appoints Mike Rees as Group Executive Director 

The Board of Directors of Standard Chartered PLC ('Standard Chartered', the 'Company' or the 'Group') announces the appointment of Alun Michael Guest Rees ('Mike') as Group Executive Director with immediate effect.

Mr Rees, 53, reports directly to Peter Sands, Group Chief Executive, and will continue to be based in London. 

Mr Rees is currently CEO Wholesale Banking, a position he took over in November 2002, and is also a Director of Standard Chartered Bank. In his role, he is responsible for all Commercial Banking products, in addition to his responsibilities for Global Markets products. Under his leadership, the Wholesale Banking business has grown at a CAGR of 27 per cent for the last five years. 

Mr Rees, who joined the Company in 1990, is also a member of the Group Management Committee and the Group Capital Management Committee. 

The appointment has received the necessary regulatory approval.

In accordance with Listing Rule 9.6.13 paragraph (1), the Company confirms that Mr Rees has held no directorships in any other publicly quoted companies at any time in the previous five years and that there are no further details to be disclosed under Listing Rule 9.6.13 paragraphs (2) to (6).

John Peace, Chairman of Standard Chartered PLC, said: 'I am delighted that Mike will be joining the Board as Group Executive Director. Over the last six years, Mike has done an exceptional job in transforming the Wholesale Banking business, and will make a great contribution to the Board.'

Peter Sands, Group Chief Executive of Standard Chartered PLC, said 'Mike brings a wealth of experience and has been a valued member of the Group Management Committee. His addition will further strengthen the Board.'

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For further information please contact:

Steve Atkinson      Head of Investor Relations        [phone]

Arijit De                  Head of Media Relations           [phone]

  Notes to editors

Mike Rees was promoted to Group Executive Director, Wholesale Banking in August 2009.

Mike joined Standard Chartered Bank in June 1990 as the Chief Financial Officer for Group Treasury and in October 1994 was appointed Regional Treasurer in Singapore, responsible for S.E. Asia Treasury businesses. In late 2000, Mike was appointed Group Head of Global Markets, in line with the broadening of the Treasury business into Debt Capital Markets and in November 2002, he was promoted to the new role of CEO Wholesale Banking, responsible for all Commercial Banking products, in addition to his responsibilities for Global Markets products. He was appointed a Director of Standard Chartered Bank in August 2004 and Mike is also a member of the Group Management Committee and the Group Capital Management Committee. He reports to the Group Chief Executive.

Mike graduated in 1978 from the University of Aston, Birmingham (B.Sc. Hons.) and following a short spell in Whinney Murray, Chartered Accountants he joined J.P Morgan in 1980 where he held several senior roles in Treasury Finance.

Mike is a member of the Institute of Chartered Accountants in England and Wales (ACA) and the UK Institute of Directors (IOD).

Mike is married with four children. He plays golf and is an avid supporter of rugby. He is also interested in art, farming, antiques and reading. He was born in 1956.

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

Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth. 

Standard Chartered aspires to be the best international bank for its customers across its markets. The Group earns around 90 percent of its income and profits in Asia, Africa and the Middle East, from its Wholesale and Consumer Banking businesses. The Group has over 1600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group 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. It employs around 70,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which about 70 are represented in the senior management.

For more information on Standard Chartered, please visit www.standardchartered.com

 

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