LONDON, June 26 Standard Chartered said
the head of its financial markets, Lenny Feder, was unlikely to
take the same role when he returns from a sabbatical in a year's
The Asia-focused bank said on Thursday Feder will take a
12-month sabbatical from the bank, starting on July 19, and it
had started a search for a permanent replacement.
Chief Executive, Peter Sands, said on a conference call with
reporters it had been a personal decision for Feder and not
related to problems in the financial markets business. Asked if
was fair to assume Feder will not return as head of financial
markets, Sands said: "Given we are initiating a process to make
a permanent appointment you can draw that conclusion."
(Reporting by Steve Slater; Editing by Pamela Barbaglia)