May 18 (Reuters) – Standard Chartered on Monday appointed Manus Costello as its permanent chief financial officer, succeeding Diego De Giorgi, who resigned in February after nearly three years with the bank.
StanChart had named Peter Burrill as its interim CFO in early February, following the abrupt exit of De Giorgi, who had left the Asia- and Africa-focused lender to join Apollo as head of the EMEA region.
StanChart said Costello would become the interim group chief financial officer effective immediately, and would join the board as an executive director, subject to regulatory approvals.
“He has made a significant contribution to the group’s strategic positioning and engagement of stakeholders, while also bringing strong rigour and an entrepreneurial mindset to the role,” Chief Executive Bill Winters said in a statement.
“This will further benefit Standard Chartered as we move forward into our next phase of growth and deliver on our medium-term financial objectives.”
StanChart also said Tanuj Kapilashrami would become the bank’s group chief operating officer. She is currently chief strategy and talent officer.
Costello, who joined the bank in 2024 as the global head of investor relations, has 25 years of experience in equity research, the bank said. He will be based in London and report directly to Winters.
De Giorgi’s departure was seen as a major blow to the bank. He had been viewed as a contender to succeed Winters, the longest-serving banking chief among large British banks.
Standard Chartered posted a better-than-expected 17% profit gain for the first quarter last month, buoyed in part as Gulf countries rushed to raise funds via bond issuance, although it logged a $190 million charge to cover expected losses from the Iran war.
The bank will hold a strategy update on Tuesday.
(Reporting by Rajasik Mukherjee in Bengaluru; Writing by Scott Murdoch; Editing by Mark Porter and Edmund Klamann)
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