By Lehlohonolo Lehana.
Standard Chartered has appointed former Barclays Africa CEO Maria Ramos as chair to succeed Jose Vinals, who is approaching the end of his nine-year term, the lender said on Tuesday.
Ramos was picked after an “extensive global search,” the London-headquartered bank said in a statement. She joined the Standard Chartered board as an independent non-executive director in January 2021.
Her career has included serving as director-general at the Ministry of Finance under the late President Nelson Mandela and running Absa Group during the lender’s split from Barclays Plc.
“Maria is a proven leader with deep industry experience and strategic vision,” said Standard Chartered Chief Executive Officer Bill Winters.
Vinals has chaired the bank for almost nine years, approaching the maximum recommended term under UK corporate governance rules. Ramos will replace him at the annual meeting on May 8, subject to regulatory approval.
She will relocate to London and step down from her board role at luxury goods company Richemont, Standard Chartered said.
Standard Chartered has pulled out from some parts of Africa in recent years, and is looking to sell units in Botswana, Uganda and Zambia. The lender has doubled assets under management in its wealth business on the continent in the past three years but that growth has largely been fueled by its business in Kenya and Nigeria.