Standard Chartered announced on Monday the appointment of Manus Costello as its permanent Chief Financial Officer, filling the vacancy left by Diego De Giorgi’s abrupt departure in February to head Apollo Global Management’s EMEA division. Costello will initially take on the role of interim group CFO effective immediately and join the board as an executive director, pending regulatory approval, taking over from Peter Burrill who had served as the interim CFO. With a 25-year background in equity research—including a decade at Merrill Lynch and a founding partner role at Autonomous—Costello joined Standard Chartered in 2024 as global head of investor relations. Based in London, he will report directly to Chief Executive Bill Winters, who praised his strategic positioning, stakeholder engagement, and entrepreneurial mindset.
The announcement precedes the bank’s highly anticipated group strategy update on Tuesday, where investors expect a fresh growth roadmap following a prolonged restructuring period marked by cost-cutting and divestitures. In a tandem leadership move, Standard Chartered named Tanuj Kapilashrami, currently the chief strategy and talent officer, as the new group Chief Operating Officer. The executive reshuffle follows a strong first quarter for the lender, which reported a better-than-expected 17% profit increase driven by Gulf bond issuance, despite absorbing a $190 million charge tied to expected losses from the geopolitical conflict in Iran.
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