Custody clients of Standard Chartered – always a top rated Asian provider in the Global Custodian agent bank surveys – will be hoping that the chronic management ructions at the British bank will draw to a close soon. It was announced today that Nigel Kenny is to step down as Group Finance Director to “pursue other interests” after a ten year stint with the bank which included heading custody.
Peter Sands, a director of McKinsey, takes over as Group Finance Director with effect from May 14. Sands has been at McKinsey since 1988, working in the banking and technology sectors, becoming a partner in 1996 and a director in 2000. Prior to joining McKinsey, Sands worked for the Foreign and Commonwealth Office. He grew up in Asia, graduated from Oxford University, obtained an MBA at Harvard and married an author called Betsy Tobin, by whom he has four children.