Standard Chartered has appointed a former Chief Executive of the U.K.'s Financial Conduct Authority as its new Group Head, Corporate, Public and Regulatory Affairs. The bank faces several regulatory investigations.
With effect from March 20th, 2017, based in London, Tracey McDermott will report into Bill Winters, Group Chief Executive, and will join Standard Chartered’s global Management Team. In the new role, she will be responsible for Standard Chartered’s global Public Affairs, Sustainability and Communications operations.
She will work closely with Winters and José Viñals, Group Chairman, in strengthening the Group’s core regulatory relationships, and with Mark Smith, Group Chief Risk Officer, on managing the Group’s reputational risk.
Steve Atkinson, currently Group Head of Corporate Affairs, will take up a new role as Bill Winters (pictured) Chief of Staff with effect from March 20th 2017.
McDermott was formerly the Acting Chief Executive of the Financial Conduct Authority (FCA) from September 2015 until June 2016. Prior to this she held a number of senior roles at the FCA with responsibility for the conduct regulation of the UK’s Financial Services sector, including Director, Supervision and Authorisations, and Director, Enforcement and Financial Crime, and was also a member of the board of the FCA from April 2013.
She was a member of the Financial Policy Committee of the Bank of England, and a Non-Executive Director of the PRA from September 2015 until June 2016.
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«Tracey has played a critical role in shaping and changing behaviours in the UK financial sector. Tracey is a great addition to our Management Team,» said Winters.
The local regulator in Hong Kong named Standard Chartered and others of market misconduct in the public listing of China Forestry Holdings Co Ltd eight years ago, «Reuters» reported from Hong Kong High Court filings.
