StanChart appoints Jose Vinals as new chairman

London

STANDARD Chartered has named former deputy governor of the Bank of Spain Jose Vinals as its new chairman, ending a 16-month search for a new leader to continue a sweeping turnaround plan at the Asia-focused lender.

Mr Vinals will join the bank as chairman designate on Oct 3 and succeed John Peace on Dec 1, StanChart said on Wednesday. "José brings deep and extensive economic, political and regulatory experience of our markets and an exceptional grasp and understanding of the international financial system," chief executive Bill Winters said.