Global banking major Standard Chartered today said it has appointed John Peace, known for his profound experience in the financial and retail sector, as Chairman of the company with immediate effect.
The banking entity’s board of directors have given their approval for his appointment, StanChart said in a statement, adding the appointment has received all necessary approvals.
“I am honoured to become Chairman of Standard Chartered”, said Peace adding, “this is one of the best jobs in banking. The Group is in excellent shape, as you can see from our recent trading update, and I look forward to continuing to work with our great management team and Board.”
Peace, 60, had joined the Standard Chartered as Deputy Chairman in August 2007 and has been the acting Chairman since January 2009, working closely with Group CEO Peter Sands.
At present, Peace, who is the Chairman of credit-checking firm Experian, would step down from his position once a new Chairman is appointed, the statement added.
However, he would continue to be the Chairman of luxury fashion chain Burberry Group plc.
Commenting on the appointment Sands said: “John brings extensive experience as an international business leader and as a Chairman”.
“He has been a very active Board member and, both as Deputy and Acting Chairman, has given me great advice and support. We have an excellent working relationship and I am delighted that we can build on that in the future."