Standard Chartered appoints former GCHQ director

Standard Chartered Shanghai Towers

Standard Chartered has announced the appointment of Sir Iain Lobban, former Director of the UK security and intelligence organisation GCHQ, as a member of and senior advisor to its Board Financial Crime Risk Committee.

Sir Iain was Director of GCHQ from mid-2008 to late 2014, having previously served as Director-General of operations from 2004. His tenure represents more than 10 years of operational delivery in counter-terrorism, cyber-security, support for national defence and the prevention and detection of serious crime as part of an integrated intelligence and security service.

Cyber-security has been at the heart of Sir Iain’s role in recent years, during which he set new direction for innovative partnerships internationally, with the private sector and with academia. As the Director of GCHQ he attended weekly UK National Security Council meetings and was a member of the Joint Intelligence Committee.

Sir Iain’s appointment to the Committee is for a two-year renewable term and follows the appointments last month of Boon Hui Khoo, Lazaro Campos and Frances Townsend as senior advisors and members of the Committee.

Formation of the Committee was announced in December last year as part of the Group’s strategic priority of combating financial crime and continuing to invest in its conduct and compliance capabilities. The Committee is chaired by Simon Lowth and its other members include Independent Non-executive Directors Christine Hodgson, Naguib Kheraj, Ruth Markland and Lars Thunell.

Sir John Peace, Chairman of Standard Chartered said: 'We are very proud to welcome Sir Iain to Standard Chartered. He has served the UK Government and the international intelligence community with great distinction for many years, and we look forward to having the benefit of his extensive experience as we advance our financial crime-fighting efforts'.

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