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Report: StanChart compliance executives fall short themselves

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Report: StanChart compliance executives fall short themselves

Senior Standard Chartered PLC executives responsible for enforcing proper behavior at the bank have themselves fallen short of expectations, unnamed sources told Bloomberg News.

Neil Barry, who left his role as compliance head earlier in June having been placed on leave in March for alleged misconduct, was the subject of complaints about inappropriate comments, the sources said.

Meanwhile, Matt Chapman, the bank's global head of anti-bribery and corruption, was investigated for changing the review of a female employee with whom he was having an affair, the people said.

Barry and Chapman declined to comment to Bloomberg News.

StanChart CEO Bill Winters has been sending memos to staff regarding conduct in a bit to improve behavior, the newswire reported. But one source said he had underestimated the scale of the problem.