StanChart boss spends $1.5 mln on shares 'to align with investors'

LONDON, Nov 13 (Reuters) - Standard Chartered (BSE: 580001.BO - news) 's new Chief Executive Bill Winters bought 1 million pounds ($1.5 million) of shares in the under-fire bank on Friday, which he said further aligned him with shareholders.

"Last week we outlined our strategy to create a lean, focused and strongly capitalised bank that is positioned for long-term and sustainable growth. For me personally, I think this is a great investment and further aligns me with our shareholders," Winters said in a statement.

Standard Chartered said on Friday Winters had bought 168,000 shares at 599 pence each, to increase his holding to 229,035 shares. He will spend about 300,000 pounds more to participate in the bank's upcoming rights issue.

Standard Chartered said another five directors and senior managers, including Chairman John Peace, also bought a combined 640,000 pounds of shares. A spokesman said that "reflects their belief in the new strategy and the opportunities for our business." ($1 = 0.6569 pounds) (Reporting by Steve Slater, editing by Anjuli Davies)