The odds are stacking up against Peter Sands keeping his job.
Bloomberg News reports that Standard Chartered’s chief executive officer is the bookmakers’ favourite to be the next U.K. leader to depart.
Ladbrokes and Paddy Power are offering odds of 4-to-6 and 4-to-7 respectively for Sands, 53, to leave this year, the shortest for any British executive. The shares were the worst performing of major U.K. lenders in the past year.
'The most sensible thing to do may be to get all of the rubbish out of the way with Sands in charge, make losses and shut a few businesses, then sack him after', said David Fergusson, chief investment officer of Woodside Holdings Investment Management, who owns the stock. 'Then you can get some new people in; have a clean start'.
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