Neil Barry, Standard Chartered Plc's head of compliance, has been placed on leave for an undisclosed reason, the Financial Times reported, citing an emailed statement from the bank.
"A person briefed on the matter" said, however, that the British lender's move was due to a pending investigation into Barry over an unspecified "internal matter," according to the March 16 report. The source noted that the matter was unrelated to how the bank's compliance function was working.
StanChart said Tracey McDermott, its group head of corporate, public and regulatory affairs, will take over Barry's role in the interim, effective immediately.
