atans1

Change a’coming at StanChart

In Corporate governance, Hong Kong, Temasek, Uncategorized on 26/01/2015 at 3:07 pm

The Sunday Telegraph reported that Temasek and Aberdeen (between them they hold 30% of StanChart) had told chairman Sir John Peace that he must find a replacement for Mr Sands within months or stand down himself.

FT reports the bank is looking to replace Peter Sands this year and has hired a headhunter to look for a successor ASAP. It says that Temasek and Aberdeen hold him responsible for not responding fast enough to a reversal of StanChart’s fortunes.

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  1. Aberdeen initially wanted to give stanchart more time coz of old boys network, plus its really OPM. Its only becoz of the big redemptions of Aberdeen funds in recent months and this actually hurt their pockets that they finally threw in the towel together with temasek to force stanchart.

  2. What about Temasek CEO’s replacement since Goodyear left?

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