Standard Chartered announces new General Manager for Southern Africa and new CEO in Zimbabwe

Johannesburg, Tuesday 29 November 2011

Standard Chartered today announced the appointments of Ebenezer Essoka as Area General Manager for Southern Africa, alongside his existing role as CEO South Africa, and Ralph Watungwa as CEO for Zimbabwe. Ebenezer succeeds the current Area General Manager Washington Matsaira.

Diana Layfield, Regional Chief Executive Officer for Africa, said:

"I am delighted to announce these appointments. Ebby Essoka is one of Africa's most experienced bankers, having held senior positions in eight of Standard Chartered's African markets over the past 25 years. Ebby's knowledge and relationships are unrivalled and under his leadership we will take full advantage of the exciting opportunities we see across our four markets in Southern Africa.

Ralph Watungwa returns to Zimbabwe following his successful leadership of our fast growing consumer banking franchise in Zambia. These are exciting times for our clients and customers in Zimbabwe as the economic recovery gains momentum, and Ralph will ensure the Bank continues to play a full part in financing growth and employment across the country.

On behalf of Standard Chartered, I would also like to thank Washington Matsaira for his outstanding service, spanning almost three decades. He leaves behind thriving businesses in Zambia, Zimbabwe and Botswana and we wish him well in his future business ventures."

Ebenezer Essoka will remain based in Johannesburg, South Africa and Ralph Watungwa will be based in Harare, Zimbabwe.

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Note to editors:

Ebenezer Essoka

Ebenezer Essoka was appointed Chairman of Standard Charted Bank Cameroon board in 2010 and assumed his role as Chief Executive Officer of Standard Chartered Bank South Africa in November 2008. Prior to this appointment, he was Chief Executive Officer of Standard Chartered Bank, Central and West Africa. Ebenezer holds a BSc. and MBA in Finance as well as a Diploma in International Business. Furthermore, he has attended senior development programmes at INSEAD, London Business School, Templeton College, Oxford University and Cambridge University.

Ebenezer's banking career began in the USA with the Bank of Boston and his African professional experience began with Bank of Boston, Cameroon. He later joined Standard Chartered Bank in 1986. Ebenezer has successfully managed several of the Group's strategic/core subsidiaries in Southern, East, Central, and West Africa. Ebenezer has served on twelve SCB subsidiary Boards, currently as chairman of SCB Cameroon, previously Cote d'Ivoire and Non Executive Director of ten others including Nigeria and Pakistan.

Ebenezer's appointment as CEO South Africa and Area General Manager of Southern Africa takes effect immediately.

Ralph Watungwa

Ralph Watungwa joined Standard Chartered Bank Zimbabwe in 1987. He was appointed Head of Consumer Banking in Zambia in 2008 and has also run Standard Chartered's Consumer Banking businesses in Tanzania (2006-2008) and Zimbabwe (2003-2006). Ralph has driven the transformation of Standard Chartered's Consumer Banking business in Zambia, introducing market leading innovations including extended opening hours as well as overseeing a major branch investment and refurbishment programme. In November 2011 Standard Chartered Zambia's excellence in consumer banking was recognised by the award of "Bank of the Year" by The Banker magazine. Ralph also has extensive experience in Corporate Banking from senior roles in Tanzania and Zimbabwe.

Ralph is a Zimbabwean national and holds a Bachelor of Business Studies and a Masters in Business Administration, both from the University of Zimbabwe. He is also an Associate Member of the Institute of Bankers, Zimbabwe.

Ralph's appointment as CEO Zimbabwe takes effect from 1 January.

About Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns more than 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 70 markets, the Group offers exciting and challenging international career opportunities for around 85,000 staff. It 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. Standard Chartered's heritage and values are expressed in its brand promise, 'Here for good'.

In South Africa the Bank dates back to 1862 from its previous shareholding in Standard Bank of British South Africa. Having divested in 1987, the Bank later returned as a representative office before acquiring a banking license in 2003. Today, Standard Chartered South Africa focuses on its successful Wholesale Banking strategy, offering corporates and multinationals unparalleled support in cross-border capital, investment opportunities, assistance with expansion into new markets and facilitation of strategic partnerships. The Johannesburg Branch boasts regional centres of expertise in: Transaction Banking; Capital Markets; Project & Export Finance (Telecoms & Infrastructure, Mining & Metals); Corporate Advisory & Finance (M&A); Private Equity; Agricultural Finance; Financial Institutions; Origination & Client Coverage; Global Markets etc.

For more information on Standard Chartered, please visit www.sc.com.

Lauren Callie
Head Business Communications, Africa
Mobile: + 27 82 894 5581
Email: Lauren.Callie@sc.com

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