StanChart Boss: "I Won't Be Here Forever"

The embattled chief executive of Standard Chartered (Other OTC: SCBFF - news) has paved the way for an announcement about his departure by confirming to top managers that planning for the appointment of a new boss is underway.

Sky News understands that Peter Sands was questioned about persistent speculation over his future during a conference call with roughly 1,000 executives earlier this week.

People familiar with the call, which is held on a weekly basis for Standard Chartered's Business Leadership Team, said on Friday that Mr Sands had pointed out that he would "not be here forever", and added that succession planning had already begun.

Mr Sands, who has led Standard Chartered since 2010, also said that he had no plans beyond running the bank and was solely focused on improving its performance.

His remarks are expected to precede formal confirmation as early as this month that he is stepping down amid increasing pressure from some leading investors.

The board of Standard Chartered had insisted until the latest wave of speculation emerged last month that no specific planning was taking place for the departure of either Mr Sands or Sir John Peace, the bank's chairman.

In a recent statement quoted by the Financial Times, the bank said: "Peter and the management team are focused on executing the group's refreshed strategy, delivering growth, cost savings and shareholder returns, and have the full support of the board in achieving this.

"The group is clearly aware of its disclosure obligations in respect of executive directors, and we are not making any announcement.

"The chairman announced a multi-year refresh of the board in 2011, and we will make any further announcements on this in due course."

The bank, which sponsors Liverpool FC, recently announced the sale of its consumer finance operations in Hong Kong, days after US authorities said they were extending their scrutiny of StanChart (HKSE: 2888-OL.HK - news) until 2017 as part of a deferred prosecution agreement.

In 2012, Standard Chartered struck a deal with regulators that saw it pay a $667m fine for violating sanctions requirements, and was forced to pay a further $300m in August after failing to make sufficient improvements to its systems and controls.

Temasek, the Singaporean state fund, which owns nearly 18% of Standard Chartered's shares, is not agitating for changes at the top of the board, according to a person familiar with its views.

However, Aberdeen Asset Management (Other OTC: ABDNF - news) , the second-largest shareholder, is reported to be keen for Mr Sands to step down.

Standard Chartered, which has seen shares fall by more than 25% during the last year, has shaken confidence among investors after a string of profit warnings, regulatory bust-ups and management changes.

The bank declined to comment on Mr Sands' remarks on Monday's call with senior executives.