26th Feb 2016 12:29
LONDON (Alliance News) - Australian banker David Morgan, a former chief executive of Westpac Banking Corp, is one of a "significant number" of senior financiers who have been sounded out about replacing John Peace as chairman of Standard Chartered, Sky News reported on Friday.
There is no certainty that Morgan, the managing director in charge of European and Asian investments at private equity group JC Flowers, will be offered, or accept, the chairmanship of the emerging markets bank, the report said, citing a City source.
Exactly one year ago today, Standard Chartered revealed that Peace would be stepping down as chairman at some point in 2016.
Earlier this week, Standard Chartered said it swung to its first annual loss since 1989, amid a costly restructuring in tough financial markets.
Shares in Standard Chartered were up 3.8% at 413.75 pence on Friday.
http://news.sky.com/story/1649229/morgan-in-frame-to-chair-standard-chartered
By Samuel Agini; [email protected]; @samuelagini
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