Standard Chartered beefs up governance with finance experts
Finance chiefs come in as non-execs as bank revamps its governance
Senior finance professionals have been drafted in at
Standard
Chartered, and its audit and risk committees split, as part of a
governance overhaul.
Former HSBC group FD and ex-Natwest CFO Richard Delbridge has joined as a
non-executive director, while AstraZeneca CFO Simon Lowth has joined in the same
role.
Group executive director Gareth Bullock is stepping down in March, and his
responsibilities for the risk function will transfer to CFO Richard Meddings.
During the first half of 2010 its audit and risk committees will be
separated. Chief risk officer Richard Goulding will report into Meddings and the
risk committee – chaired by non-exec Jamie Dundas.
The audit committee will continue to monitor the integrity of the company’s
financial reporting, compliance and internal control environment and will be
chaired by Rudy Markham.
“Strong corporate governance is essential for delivering sustainable
shareholder value and as a leading international bank, we are at the forefront
of corporate governance,” said chairman John Peace.
“I am pleased to say that these changes are in line with the Walker Report
recommendations and the proposed updates to the Combined Code.”
Further reading:
Profile:
Richard Meddings, group FD at Standard Chartered Bank
Accountancy
Age Awards: Meddings wins Blue Chip FD accolade