Kanwal is leaving for not meeting the bank’s disclosure standards, he said in a statement from the bank.
“After careful deliberation, I felt that some of my internal disclosures about my historical personal investments in businesses outside the bank did not meet these very high standards,” he said, noting that he no longer owns those investments.
Kanwal’s personal investments had no impact on Standard Chartered’s clients or the economic interest of the bank, Bill Winters, the bank’s group CEO, said in the statement.
Anna Marrs, in addition to her role as CEO for commercial and private banking, will take on Kanwal’s role subject to regulatory approval, according to the statement.
Marrs joined Standard Chartered in 2012 and was previously the group head of strategy and corporate development.
