June 26, 2014 / 9:07 AM / in 3 years

StanChart says financial markets boss won't return in same role

LONDON, June 26 (Reuters) - 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 time.

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)

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