StanChart's Ferguson to join Bahrain bank

{SINGAPORE] Ray Ferguson, chief executive of Standard Chartered Bank Singapore, has quit to join Bahrain-based Arab Banking Corporation, the latest high-level departure to hit the UK bank.

A statement from the bank, which is 18 per cent owned by Temasek Holdings, said "Ray Ferguson has decided to leave Standard Chartered Bank with effect from 28 March 2014 to join Arab Banking Corporation as executive vice-president and group chief banking officer.

"We wish him well in the next stage of his career," it said.