22nd Apr 2008 09:25
Standard Chartered PLC22 April 2008 Standard Chartered PLC22 April 2008 Standard Chartered Board Changes Standard Chartered PLC to appoint Steve Bertamini as Group Executive Director The Board of Directors of Standard Chartered PLC ("Standard Chartered", the "Company" or the "Group") announces the appointment of Stefano Paolo Bertamini ("Steve"), age 43, as Group Executive Director with effect from 1 June 2008, andthat Michael Bernard DeNoma ("Mike"), Group Executive Director since 2000, isstepping down to pursue other career opportunities. Mr DeNoma, 52, will step down from the Board from 1 June 2008. He steps downafter a long and distinguished career with Standard Chartered having joined theCompany in 1999 as Group Head of Consumer Banking. He became a Director in May2000 and is also responsible for the Group Strategy function. Mr Bertamini, 43, has been appointed as Chief Executive Officer, ConsumerBanking with effect from 19 May 2008. He will report directly to Peter Sands,Group Chief Executive, and will be based in Singapore. Steve will be appointedas Group Executive Director and will join the Board with effect from 1 June2008. This appointment is subject to regulatory approval. Steve joins Standard Chartered from GE where he spent 22 years, most recently asChairman and CEO of GE North East Asia, with responsibility for Greater China,Korea, and Mongolia. He was also responsible for GE's acquisition and mergerbusiness in the Asia-Pacific region from 2004 and President of GE Capital Asiasince January 2001. Prior to that, Steve was Chief Executive Officer of GEAustralia and New Zealand. He led the establishment of GE's Consumer Financebusiness in Asia in 1993 and was its Managing Director from 1994 to 1998. Additionally, Group Strategy will report directly to Peter Sands with immediateeffect. As is its usual practice, Standard Chartered will give a trading update at itsAnnual General Meeting on 7 May 2008. Mervyn Davies, Chairman of Standard Chartered PLC, said "Mike has been a highlyvalued member of the Board for the past eight years during which time the Bankhas grown significantly. Mike has done an exceptional job. He has been apleasure to work with both during my time as Chairman and previously as CEO. Wewish him every success in the future. "I am very pleased that Steve will be joining the Board as Group ExecutiveDirector of Standard Chartered PLC. He brings a wealth of experience from andstrategic insight into the markets in Asia, and will be a great addition to theBoard." Peter Sands, Group Chief Executive of Standard Chartered PLC, said "Under Mike'sleadership our Consumer Banking business has been transformed, deliveringsignificant shareholder value from the growth of Wealth Management and SME,whilst building our franchise in markets such as Korea, China, Pakistan andTaiwan. "I would like to also thank Mike for his contribution to the success of theGroup over the recent years. He has been a true champion of the StandardChartered brand and values as well as our ambassador for the Greatest Race onEarth marathon series. I wish him well for the future. "I am delighted to welcome Steve to the Bank. Steve has outstanding leadershipcapability and a proven track record in building successful retail businessesand franchises in our key markets. I am confident that under his leadership, wewill achieve our aspirations for the Consumer Banking business." Mike DeNoma, Group Executive Director, said, "The Consumer Banking business hastransformed - it's a great business with a great team. Now is the right timefor me to end this chapter in my career and to move on to new adventures closingwhat has been a wonderful near-decade with the Bank." --- ENDS --- For further information please contact: Steve Atkinson Head of Investor Relations +44 20 7885 7245 Arijit De Head of Media Relations +44 20 7885 7163 Notes to editors Mike DeNoma joined Standard Chartered in July 1999 and was appointed to theBoard of Standard Chartered PLC, as a Group Executive Director, in May 2000.Mike is responsible for the Group's Consumer Banking business worldwide andleads the Group's Strategy function. He is based in Singapore. Prior to joining Standard Chartered, Mike was the founder and CEO of Asia FoodsLimited (in the People's Republic of China), the Chief Operating/MarketingOfficer at Hutchinson Whampoa and Citibank's Senior Vice President for Marketingfor Asia. Before joining Citibank in 1990, he held senior positions at PepsiCoInc. Mike started his career at Procter & Gamble. Mike will step down from the Board of Standard Chartered PLC from 1 June 2008.He will also step down as a Director of Standard Chartered Bank (Hong Kong)Limited. Mike is a Director of the Board of Trustees for Singapore Management University,a Director for the International Center for Missing & Exploited Children and aDirector of the Singapore Sports Council. An American citizen, Mike has a BA from Ohio University and MBA from WhartonBusiness School. He is married with six children. Steve Bertamini has been Chairman and CEO of GE North East Asia and VicePresident of General Electric Co. since October 2005. Prior to that, Steve wasChief Executive Officer of GE Australia and New Zealand and President of GECapital Asia since January 2001. He was responsible for GE acquisition andmerger business in the Asia-Pacific region from 2004. Steve served as Directorof United Group Ltd from 5 April 2001 to 8 April 2002. Steve joined GE Capital Services' Management Development Programme in 1986 inDallas, Texas and subsequently held a variety of positions in GE Capital'sbusinesses. In 1993 he moved to Hong Kong to establish GE Consumer Financebusiness in Asia and was appointed Managing Director of GE Consumer Finance Asiain 1994. In October 1998 he was appointed COO for GE Australia & New Zealand. InNovember 1999 he was named Group CEO for GE Consumer Finance & Insurance,Australia & New Zealand. Steve was also the chairman of GE's volunteer activities in North East Asia,Vice Chairman of the China Conference Board and a member of the JuniorAchievement Board in China. Steve was born in Munich, Germany and grew up in Europe, North Africa and Northand South America. He graduated from University of Texas in Austin with aBachelor's degree of Business in Finance and Management in 1985 and earned hisMBA at the University of North Texas in 1991. Steve enjoys weightlifting, golf, tennis and skiing. He and his wife Brigetthave a daughter and two sons. Standard Chartered - leading the way in Asia, Africa and the Middle East Standard Chartered PLC, listed on both the London Stock Exchange and the HongKong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by marketcapitalisation. The London-headquartered group has operated for over 150 yearsin some of the world's most dynamic markets, leading the way in Asia, Africa andthe Middle East. Its income and the number of employees have more than doubledover the last five years primarily as a result of organic growth andsupplemented by acquisitions. Standard Chartered aspires to be the best international bank in its marketsthrough leading by example to be the right partner for its stakeholders. Thegroup now employs 73,000 people, representing 115 nationalities, in more than1,700 branches and outlets located in over 70 countries. The bank derives morethan 90 per cent of its operating income and profits from Asia, Africa and theMiddle East, with balanced income derived from both Wholesale and ConsumerBanking. The group is committed to building a sustainable business over the long term andis trusted worldwide for upholding high standards of corporate governance,social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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