Thu, 28 Mar 2024 Today's Paper

Standard Chartered Europe CEO Richard Holmes to leave bank

By

13 June 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

Bloomberg: Standard Chartered PLC’s Chief Executive Officer for Europe, Richard Holmes, is leaving after eight years at the London-based lender amid Bill Winters’s management overhaul.


From August his responsibilities will be taken over by Tracy Clarke, who last July was made regional CEO for Europe and the Americas, Holmes said by telephone. Clarke is also head of compliance and human resources. Holmes will spend more time on his philanthropic work and consider non-executive boardroom positions, he said.


Since taking over from Peter Sands in June, CEO Winters, 54, has replaced several executives and is cutting 15,000 jobs worldwide to help save US $ 2.9 billion in costs. Winters increased his oversight by appointing a 13-member management team reporting directly to him and reduced the number of regional heads to four, including China and North Asia, South Asia and Africa and the Middle East.


Holmes said he’d been asked to stay on at the bank for the last year to help Winters during the management transition.


Holmes was previous head of American Express’s banking arm in New York and studied economics at Cambridge University. He represented Standard Chartered on the boards of several industry lobbies, including the British Bankers’ Association and TheCityUK.


Winters was hired to turn around the Asia-focused bank, which has been hit by a surge in loan impairments and falling revenue as growth slows in emerging markets. The shares are trading at about half the value of the bank’s assets and have fallen about 8 percent this year.


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H