Standard Chartered job cuts prompt CIO retirement

Standard Chartered CIO Jan Verplancke has announced his departure, amid a significant reorganisation of the multinational bank's business which will see 4,000 job cuts.

Singapore-based Verplancke, 51, revealed yesterday that he will retire from his role as CIO and Group Head of Technology and Operations following a decade based at the company. An announcement on his successor -- who will report directly to chief executive Peter Sands -- is expected imminently.

Prior to joining Standard Chartered, Verplancke was EMEA CIO for technology vendor Dell, helping consolidate back office operations and lower costs in hubs across the world, as well as previously working at clothes manufacturer Levi Strauss.

As head of IT at Standard Chartered, which he joined in March 2004, Verplancke was responsible for all systems development, technology support and banking operations, and helping improve productivity and leading innovation the bank.

His departure coincides with that of chief risk officer Richard Goulding, 55, who is also retiring.

"I'd like to thank Richard and Jan for their leadership and contribution to the Group. I have worked very closely with Richard and Jan for many years and I wish them both well on their retirements," said Peter Sands, Group Chief Executive.

The senior level changes come as the bank announces significant restructuring of its workforce as it accelerates its digital transformation. This includes plans to cut 4,000 jobs in a bid to reduce costs by $400 million (£265m) this year, as well as ongoing plans to reduce its branch network.

Standard Chartered has been the main shirt sponsor of Liverpool FC since July 2010, its current deal with the English Premier League football side running until at least May 2016 and believed to be worth upwards of £20 million.

Image from Liverpool FC Facebook page


Matthew Finnegan

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