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StanChart confirms compliance chief placed on leave

Reuters - UK Focus

LONDON, May 9 (Reuters) - Standard Chartered (BSE: 580001.BO - news) has placed its compliance chief Neil Barry on leave for an unspecified reason, the bank's Chairman Jose Vinals confirmed at the bank's annual shareholder meeting in London on Wednesday.

The bank has replaced Barry with Tracey McDermott, its group head of corporate affairs and a former acting chief of Britain's financial watchdog, Vinals said.

The bank has 'internal processes underway' in relation to Barry's case, Vinals said, and will update shareholders when those are completed.

StanChart (HKSE: 2888-OL.HK - news) confirmed the review into Barry following media reports last month that he had been placed on leave. (Reporting By Lawrence White, editing by Sinead Cruise)