Prime Highlights-
- Standard Chartered appointed Manus Costello as permanent CFO ahead of its upcoming strategy update and growth plans.
- The bank reported a 17 percent rise in first-quarter profit last month despite recording charges linked to expected losses from the Iran conflict.
Key Facts-
- Standard Chartered focuses mainly on markets across Asia, Africa and the Middle East.
- Manus Costello joined the bank in 2024 as global head of investor relations and has around 25 years of equity research experience.
Background-
Standard Chartered has appointed Manus Costello as its permanent chief financial officer, replacing former finance chief Diego De Giorgi, who stepped down earlier this year.
The bank said Costello would first serve as interim group CFO with immediate effect and later join the board as an executive director after receiving regulatory approvals.
The appointment comes ahead of the bank’s strategy update, where investors expect the lender to outline its next phase of growth plans. Standard Chartered has been undergoing restructuring in recent years through cost-cutting measures and business divestments as part of its broader transformation efforts.
Costello joined the bank in 2024 as global head of investor relations. The bank said he brings around 25 years of experience in equity research and financial markets. Before joining Standard Chartered, he worked as a founding partner and global head of research at Autonomous. He also spent a decade at Merrill Lynch in research roles based in London and New York.
Chief Executive Bill Winters said Costello had already contributed to the bank’s strategic positioning and stakeholder engagement. He added that the appointment would support the bank’s next growth phase and medium-term financial goals.
The bank also announced that Tanuj Kapilashrami would become group chief operating officer. Last month, Standard Chartered reported a 17 percent rise in first-quarter profit, supported partly by strong bond market activity in Gulf countries.
