Stanchart New CEO in SA
Johannesburg, 25 November 2008
Standard Chartered, the international bank with a unique presence in Africa, Asia and the Middle East, today announced that Cameroonian born Ebenezer Essoka has been appointed as CEO of South Africa, succeeding Chris Low.
Ebenezer Essoka will be transferring to South Africa from Ghana. In his role as CEO West Africa, Ebenezer has been actively involved in the growth and success of Standard Chartered's West African operations. The African born CEO brings with him extensive international banking expertise, having worked in the Group's Asian as well as African, business as well as serving on several of Standard Chartered's subsidiary boards, including Nigeria and Pakistan. Ebenezer is a member of the Africa Regional Advisory Board of the London Business School. He is also founder and trustee of the Global Reach Network Foundation – a philanthropic organisation focused on bridging opportunity gaps for individuals and communities worldwide.
Commenting on his recent appointment, Ebenezer Essoka said, "South Africa is key to our Africa strategy. The economy serves as a commercial highway into Africa for foreign direct investment and trade relationships between Africa, Middle East and Asia. My arrival coincides with Standard Chartered Bank's appointment as Sole Mandated Lead Arranger for AngloGold Ashanti's USD1 billion loan, concluded last week. This deal demonstrates our international mining expertise and highlights our commitment to support our core customers globally, especially during these times of market volatility."
In South Africa, Standard Chartered Bank is focused on its successful wholesale banking strategy, providing financial solutions to major South African corporates and multinationals. In addition to commercial lending, foreign currency trading, trade finance and debt capital markets products, Standard Chartered South Africa boasts regional centres of expertise in Agricultural Finance, Project and Export Finance, and Principal Finance (Private Equity). Mergers & Acquisitions capabilities compliment their product offering through Standard Chartered's 25% equity stake in First Africa.
Ebenezer will assume his new role with immediate effect, having already received the necessary regulatory approval from the South African Reserve Bank.
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For further information please contact:
Lauren Callie, Head of Corporate Affairs, South Africa
Tel: +27 (0)11 217 6600 / 6606
Mobile: +27 (0)82 894 5581
Note to editors:
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of whom are women. The Group's employees are of 115 nationalities, of which 60 are represented among senior management.
For more information, please visit: www.sc.com.