Standard Chartered Appoints Manus Costello as Permanent CFO

Standard Chartered Bank has announced the appointment of Manus Costello as its new permanent Chief Financial Officer, succeeding Diego De Giorgi, who stepped down in February after nearly three years in the role. Following De Giorgi's exit, an interim CFO, Peter Burrill, was appointed. Costello will initially take on the position of interim group CFO and will join the board as an executive director, pending regulatory approval. He joined Standard Chartered in 2024 as the global head of investor relations and brings 25 years of equity research experience to the position, including stints at Autonomous and Merrill Lynch. Chief Executive Bill Winters praised Costello's contributions to the bank's strategic initiatives, noting that his appointment comes just before an important group strategy update, where new growth plans are expected. Additionally, Tanuj Kapilashrami will transition to the role of group chief operating officer. Analysts previously viewed De Giorgi's departure as a significant loss for the bank, which has seen a strong 17% profit increase in its first quarter, even as it addressed challenges from the ongoing Iran conflict.