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Standard

Chartered
July 27, 2 0 1 6
To,
The General Manager,
Department ofCorporate Services,
B o m b a y Stock Exchange Ltd.,
P. J . T o w e r s , Dalai Street,
-400 001.

SUB:

STANDARD C H A R T E R E D

P L C (THE

"COMPANY")

STOCK

EXCHANGE

ANNOUNCEMENT
Dear Sir,
In r e f e r e n c e t o t h e p r o c e d u r e s that h a v e b e e n a g r e e d o n t h e r e l e a s e o f s t o c k e x c h a n g e
a n n o u n c e m e n t s i n t h e U K , please find attached a copy o f t h e a n n o u n c e m e n t which h a s
been submitted t othe London Stock Exchange for uploading o nt oyour website.

Y o u r s sincerely,

Lee Davis
Authorised Signatory

Standard Chartered P L C
1 Basinghall Avenue
London EC2V 5DD
www.sc.com
R e g i s t e r e d Office at 1 Basinghall A v e n u e L o n d o n E C 2 V 5 D D
Registered England

T e l + 4 4(0)20 7 8 8 5

8888

Here for good

Standard
Chartered
27 July 2 0 1 6

Standard Chartered P L C appoints Jose
Chairman

to succeed Sir John Peace as

Standard Chartered P L C (the "Group") h a s appointed Jose Vihals a s Chairman. Jose,
will join t h e B o a r d a s C h a i r m a n d e s i g n a t e o n 3 O c t o b e r 2 0 1 6 , a n d s u c c e e d S i r J o h n
P e a c e a s C h a i r m a n o f t h e G r o u p o n 1 D e c e m b e r 2 0 1 6 . S i r J o h n will step d o w n a s a
Director a n d C h a i r m a n o n t h e s a m e day.
"I a m h o n o u r e d t o b e j o i n i n g S t a n d a r d C h a r t e r e d . I t ' s a f a b u l o u s o r g a n i s a t i o n w i t h a rich
history a n d e n o r m o u s potential", J o s e said. "I a m looking f o r w a r d t o w o r k i n g closely w i t h
t h e B o a r d , Bill, h i s M a n a g e m e n t T e a m , a n d staff t o e n s u r e t h a t t h e G r o u p a c h i e v e s its
potential across t h e m o s t exciting m a r k e t s in t h eworld, delivering o n its c o m m i t m e n t s t o
s h a r e h o l d e r s , c l i e n t s , r e g u l a t o r s a n d t h e c o m m u n i t i e s i n w h i c h it o p e r a t e s . "
This appointment c o m e s after a n extensive external search led b yNaguib Kheraj, Senior
Independent Director. C o m m e n t i n g o n t h e process, Naguib added, " W e a r e delighted t o
have concluded t h e search f o ra n e w Chairman with the appointment of Jose. H e is
widely acknowledged a s a nexpert o n t h e world financial a n d regulatory landscape a n d
h a s a w e a l t h o fk n o w l e d g e of t h e m a r k e t s in which S t a n d a r d Chartered operates. H eh a s
excellent relationships with finance ministers, central bank governors a n d private sector
bank leaders around t h e world."
"On behalf of t h e Board,
w o u l d like t o t h a n k S i r J o h n f o r h i s c o m m i t m e n t a n d
contribution t o Standard Chartered over the past decade. Sir J o h n h a shandled t h e Chair
s u c c e s s i o n p r o c e s s i n a n e x e m p l a r y m a n n e r a n d provided stability a n d continuity
through a period ofsignificant change for t h e Group."
Bill W i n t e r s , G r o u p C h i e f E x e c u t i v e , a d d e d , " J o s e b r i n g s d e e p a n d e x t e n s i v e e c o n o m i c ,
political a n d regulatory e x p e r i e n c e o f o u r m a r k e t s a n d a n exceptional g r a s p a n d
understanding o f t h e international financial s y s t e m . W e h a v e m a d e significant progress
in t h e d e l i v e r y o f o u r s t r a t e g i c o b j e c t i v e s a n d l o o k f o r w a r d t o w o r k i n g w i t h J o s e o n t h e
next p h a s e o f t h e G r o u p ' s growth. H e ' sa proven leader, truly global in his perspective
and a m delighted that we'll b e working together."
J o s e is currently t h e Financial Counsellor a n d Director of t h e Monetary a n d Capital
Markets Department of t h e International Monetary F u n d (IMF). H i s responsibilities
include t h e oversight a n d direction o f t h e IMF's m o n e t a r y a n d financial sector work, a n d
h e is t h e I M F ' s chief s p o k e s m a n o n financial m a t t e r s , including global financial stability.
H e w a s a m e m b e r o f t h e Plenary a n d Steering C o m m i t t e e o f t h e Financial Stability
B o a r d f o r s e v e n years, playing a k e y role in t h e reform o f international financial
regulation.
Jose began his career a s a n economist before spending 2 5 years att h e Central Bank of
Spain, w h e r e h e rose t o b e t h e D e p u t y Governor, with responsibility f o r all areas o f t h e
Central B a n k , including m o n e t a r y policy, banking regulation a n d supervision. J o s e h a s
held m a n y other Board a n d advisory positions including Chair o f Spain's Deposit
Guarantee Fund, Chair of t h e International Relations Committee at t h e European Central
Bank, m e m b e r of t h e Economic a n d Financial Committee of t h e
/Union, a n d

STANDARD
1

Standard Chartered P L C
1 Basinghall Avenue
London EC2V 5 D D
www.SG.com
Registered Office at f
Registered England 966425

Tel + 4 4
Avenue London E C 2 V 5 D D

TERED PLC
AVENUE
V 5DD

Here for good

Chair of t h e W o r k i n g Group o n Institutional Investors a t t h e B a n k f o r International
Settlements.
J o s e will s p e n d u p t o four d a y s a w e e k o n a v e r a g e o n his duties a s n o n - e x e c u t i v e
C h a i r m a n o f t h e G r o u p . T h e C h a i r m a n s h i p o f S t a n d a r d C h a r t e r e d will b e h i s p r i m a r y
o c c u p a t i o n a n d h e will b e a v a i l a b l e t o s p e n d w h a t e v e r t i m e i s n e c e s s a r y t o fulfill t h e role.
J o s e will relocate t o L o n d o n , a n d travel e x t e n s i v e l y a r o u n d t h e B a n k ' s n e t w o r k a s part of
his role.
Jose's appointment h a s been approved b y both financial regulators, t h e Prudential
Regulation Authority and the Financial Conduct Authority.
T h e Group is also announcing the appointment of Naguib Kheraj, a sDeputy Chairman.
Naguib joined the Board inJanuary
a n d will retain his existing S e n i o r I n d e p e n d e n t
Director a n d o t h e r c o m m i t t e e roles. T h i s a p p o i n t m e n t will t a k e effect at t h e s a m e t i m e a s
that o f the n e w C h a i r m a n o n 1 D e c e m b e r
T h e appointment of Naguib a s Deputy
C h a i r m a n provides additional capacity in representing t h e B a n k a n d his experience is
complementary to the incoming Chairman.
Additional Information required by the Hong Kong Stock Exchange
T h e r e a r e n o matters relating t o t h e resignation o f S i r J o h n P e a c e that need t o b e
b r o u g h t t o t h e a t t e n t i o n of t h e s h a r e h o l d e r s o f S t a n d a r d C h a r t e r e d P L C .
J o s e Vihals h a s n o relationship with a n y other Director, m e m b e r o f senior m a n a g e m e n t
or substantial or controlling shareholder of Standard Chartered P L C .
J o s e d o e s n o t h a v e a n y interests in t h e securities o f S t a n d a r d C h a r t e r e d P L C .
S a v e a s disclosed above, there is n o other information t o b e disclosed under t h e
requirements o f U K Listing R u l e
(1-6) and Rule
o f t h e H o n g K o n g Listing
R u l e s in relation t o J o s e ' s a p p o i n t m e n t .
Remuneration statement in relation to Board Changes
Jose Vihals
T h e key terms ofJose's appointment with the Group are set out below a n d disclosed in
a c c o r d a n c e w i t h t h e rules g o v e r n i n g t h e listing o f securities o n t h e S t o c k E x c h a n g e o f
H o n g Kong Limited.
T h e Board Remuneration Committee, comprised of Independent Non-Executive
Directors, s e t t h e r e m u n e r a t i o n f o r Jose's role with reference t o Jose's individual
experience a n d alternative opportunities, the duties, time c o m m i t m e n t a n d contribution
which a r e expected from t h e Chairman, a s well a s fees for chairmen in other
international banks a n d other companies of a similar scale a n d complexity.
J o s e will receive a n a n n u a l f e e o f
I n addition, J o s e will receive s t a n d a r d
benefits for t h e role. J o s e will n o t b e eligible t o receive a n y p e n s i o n o r participate i n a n y
discretionary variable compensation plan.

STANDARD
1
LONDON

Standard Chartered P L C
1 Basinghall Avenue
London EC2V 5DD

Tel

PLC
V 5DD

+44 (0)20 7885 8888

www.sc.com
R e g i s t e r e d Office at 1 Basinghall A v e n u e L o n d o n E C 2 V 5 D D
Registered England 966425

Here for good

Standard
Chartered
T h e appointment is subject t o a s i x months' notice period o n either side. T h e
a p p o i n t m e n t will b e subject t o a n n u a l re-election b y S t a n d a r d C h a r t e r e d P L C ' s
shareholders.
ENDSFor further details please contact:
Investors
James Hopkinson
Head ofInvestor Relations
+44 (0)207885 7 1 5 1
Media
Jon Tracey
H e a d of C o m m u n i c a t i o n s
+44 (0)207885 7 1 6 3
Notes to editors
Jose Vihals
Jose is currently the Financial Counsellor a n d Director of the Monetary a n d Capital
Markets Department o f t h e International Monetary F u n d (IMF). F o r the past s e v e n
years, h e w a s a m e m b e r of t h e Financial Stability Board, representing t h eI M F .
H e held a n u m b e r of senior positions a t the Central B a n k o f Spain, including Deputy
G o v e r n o r , o v e r s e e i n g all o f its f u n c t i o n s .
H e h a s also held t h e positions o f C h a i r m a n o ft h e E u r o p e a n Central B a n k International
Relations Committee; and Chairman ofSpain's Deposit Guarantee Fund.
H e h a s b e e n a m e m b e r of: t h e B a n k for International S e t t l e m e n t s ( B I S ) C o m m i t t e e o n
the Global Financial S y s t e m ; t h e European Central B a n k Monetary Policy Committee;
and t h e high-level group appointed b y the President o f the E u r o p e a n C o m m i s s i o n t o
examine economic challenges in the European Union. H ew a s also a member of the
European Union Economic a n dFinancial Committee, a n d a board m e m b e r of t h e
Spanish Securities Authority, the
Nacional del Mercado de Valores.
J o s e is married with four children. H e holds a Bachelor's degree in E c o n o m i c s from t h e
University of Valencia; a Master's degree in Economics from the London School of
Economics; a n d Master's a n d Doctoral (Ph.D.) degrees in Economics from Harvard
University. H e is a former Faculty M e m b e r of t h e Economics Department a t Stanford
University. H i s awards include t h e
R e y Jaime
(King J a m e s
Prize) in
E c o n o m i c s in

Standard Chartered P L C
1 Basinghall Avenue
London EC2V 5 D D

Tel

+44 (0)20 7885

8888

www.sc.com
Registered
at 1 Basinghall A v e n u e L o n d o n E C 2 V 5 D D
Registered England 9 6 6 4 2 5

Here for

Standard
Chartered
Naguib Kheraj
Naguib w a s appointed a s a n Independent Non-Executive Director o f
C h a r t e r e d P L C in J a n u a r y
a n d a s S e n i o r Independent Director in J u n e

Standard

H e iscurrently a Senior Advisor to the A g a K h a n Development Network a n d serves o n a
n u m b e r o f non-profit entity boards within t h e A g a K h a n D e v e l o p m e n t Network. H e is
also a member of the Investment Committee of the Wellcome Trust and is a nonexecutive Director of R o t h e s a y Life.
His former roles include Vice C h a i r m a n a n d Group Finance Director of Barclays, a n dh e
w a s their n o m i n a t e d N o n - E x e c u t i v e Director of A b s a G r o u p in S o u t h Africa a n d of First
Caribbean International Bank. H ealso served a s Chief Executive Officer o f J P M o r g a n
Cazenove. H ealso held senior positions a t Robert Fleming a n d at S a l o m o n Brothers
w h e r e h e started h i s banking career in 1986. Naguib h a s also served a s a N o n
Executive Director of N H S England, which is responsible for commissioning most ofthe
healthcare spending b y t h e public sector in England, a s a S e n i o r Advisor t o H e r
Majesty's R e v e n u e a n d C u s t o m s Service and t othe Financial Services Authority inthe
UK.
Naguib holds a degree in Economics from Cambridge University. H e ismarried with o n e
s o n a n d lives in L o n d o n .
Standard Chartered
W e are a leading international banking group, with around 84,000 employees a n d a
year history in s o m e o f t h e world's most dynamic markets. W ebank the people a n d
c o m p a n i e s driving investment, trade a n d t h e creation o f wealth across Asia, Africa a n d
the Middle East. O u r heritage a n d values are expressed in o u r brand promise, Here for
good. S t a n d a r d C h a r t e r e d P L C is listed o n t h e L o n d o n a n d H o n g K o n g S t o c k
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LONDON

Standard Chartered P L C
1 Basinghall Avenue
London EC2V 5 D D
www.sc.com
R e g i s t e r e d Office at 1 Basinghall A v e n u e L o n d o n E C 2 V 5 D D
Registered England 966425

Tel

+44 (0)20 7885

8888

Here for good

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