Standard Chartered is working with an executive search firm to find an external candidate to replace Mark Dowie to head its corporate and institutional business as part of Chief Executive Officer Bill Winter’s management overhaul, according to a person with knowledge of the matter.
Bloomberg News reports that Winters, 53, is currently only considering outside applicants for the role, which oversees Standard Chartered’s transaction banking, corporate finance and financial markets operations, said the person, who asked not to be identified because the process is private. The search may be completed as early as year end, according to the person.
Since taking over from Peter Sands in June, Winters has increased his oversight by appointing a new 13-member management team reporting directly to him. He also assumed responsibility for all three of the firm’s main divisions from deputy-CEO Mike Rees, who used to run the investment bank.
To access the complete Bloomberg News article hit the link below: