HoHoHo: Time for StanChart’s CEO to go?

Another one for the repair shop is UK-listed Standard Chartered. After damaging revelations about the bank breaching US-led sanctions against doing business with Iran, it had already paid a $667m fine to avoid criminal charges in 2012. This week another $1.5bn in fines from US authorities was highlighted after allegations that the bank continued to defy certain sanctions. Even without the added headache, Lex adjudged that chief executive Bill Winters has done a poor job of preserving shareholder value — never mind building some — since he joined just over three years ago. The shares are down 40 per cent.

Emphasis mine. FT’s Letter from Lex summarising it’s article that’s behind a pay wall. Emphasis mine.

Time for Temasek, the controlling shareholder, to talk to other top 10 shareholders about removing him? Pigs will fly first. The CEO that ran the bank into the ground was kicked out because another top 10 shareholder,Aberdeen Asset Mgt, as it then was, organised a campaign against him.

But then Temasek’s paper general CEOs would also have to go if they are judged by best practices ang moh private sector standards,

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor.

 

 

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11 Responses to “HoHoHo: Time for StanChart’s CEO to go?”

  • clown pap S$m loyalty jobs:

    chan chun seng any good? other than speaking grandma poor england, and buying chicken rice for folks at pap PA organized GE rallies, nothing good.

    the fatty ceo sph who sank NOL any good? morally speaking he did not fire the 2 senior editors who bullied an intern for sex. can this be good? NO.

    the botak ceo AStar any good? this pap Lj is arrogant. if he stops to think even for one moment, without his kissing pap clown ass, he wouldn’t even have a job on his own merit. so, this botak is no ffffing good.

    the pinocchio of pasir ris any good? this one is pinocchio for one reason. lying lies. so, no brainer. this lying lies pap Lj is not good.

    the clown of all clowns, the lky son. this one is the joke of everyone without need of pap S$m loyalty payments. at the time when he was taking over from the useless goh chock tong, the clown upset China by visiting taiwan. what a stupid ass. then the same clown angried China by talking about pork rib soup and free smoke. no wonder once great 1st world SGP is now 3rd world sinking fast to 4th world. and what to expect? lky lied he would rise from grave to right any wrong. he lied. Dr Mahatir, of better calibre, delivered.

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  • patriot of Temesak:

    When a pair of Idiots a Clown & Jinx…can’t really tell who rides who when both wear pants are in CHARGE…

    The Charade carries on with a BUNCH of Beholden pieces of SHITS in cabinet

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  • Another0:

    Must be *foreign* talent?
    Losing money is their forte.
    Tema$ick HO-dings just simply loves getting screwed by FTs?

    Only good at screwing sgs domestically.

    Like hubby,like wife.
    One way ticket to DOOM.

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  • HarderTruths:

    You miss the point entirely

    Get id of one pig and another starts gorging at the trough.

    The individuals are just the symptom.

    The real problem is the systemic failures governing all local enterprises; he is obviously highly connected to those in power and that is all that is needed to secure his position.

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  • Malaysia boleh Singapore bodoh:

    Straits Times: Seized SAF Terrex troop carriers listed as ‘civilian vehicles’ in shipping firm’s paperwork, HK court told

    Isn’t this a FAKE declaration by a Singapore Government agency? Who is responsible and accountable? Forgot they were not making the declaration in Singapore? Laughable.

    Another good reason for REGIME CHANGE.

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  • Rabble-rouser:

    @ Harder Truths:
    Very well said! S’pore under the PAP were full of systemic failures. Cover ups, financial & sex scandals, lack of transparency, no accountability, (High Ministerial Pay) rewards for consistent market failures – how long can this go on until Ah Kong’s money (S’pore Reserves) run dry? Maybe Ah Kong’s monies already dried up – thus putting up a Wayang stage in front of an empty vault to fool the clueless 70%. Sometimes I feel S’poreans lack intelligence – continually fooled & fooled again. Thinking smug of themselves but are really stupid in reality.

    HarderTruths: The real problem is the systemic failures governing all local enterprises

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  • Hagen, the Angry Rooster:

    Another roti prata from CI.
    Now trying to redeem himself when he realizes StanChart (previously Chartered Bank) is linked to Temasek. Ho ho ho…..

    See how he ‘tekkan’ Singaporeans in a previous thread: HoHoHo: StanChart’s CEO is worse than our paper generals.

    Cynical Investor:
    Singaporeans have few good things to say about our paper generals and scholars: think SPH’s CEO and ex-SMRT’s CEO.
    Well StanChart’s CEO, a true blue ang moh life long banker, makes these guys look good.

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  • Bapak:

    Why you dare not to tell PM Lee & Ho Ching to go?

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  • Hagen, the Angry Rooster:

    The problem is the pigs are getting fatter & not ridden off. Before the trough breaks, better sell them off. At least can still get some value as char siew, kuay chap, Bak Kut Teh, etc.

    @ HarderTruths

    HarderTruths:
    You miss the point entirely

    Get id of one pig and another starts gorging at the trough.

    The individuals are just the symptom.

    The real problem is the systemic failures governing all local enterprises; he is obviously highly connected to those in power and that is all that is needed to secure his position.

    GD Star Rating
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  • HarderTruths:

    Rabble-rouser: S’pore under the PAP were full of systemic failures. Cover ups, financial & sex scandals, lack of transparency, no accountability, (High Ministerial Pay) rewards for consistent market failures – how long can this go on until Ah Kong’s money (S’pore Reserves) run dry? Maybe Ah Kong’s monies already dried up – thus putting up a Wayang stage in front of an empty vault to fool the clueless 70%. Sometimes I feel S’poreans lack intelligence – continually fooled & fooled again. Thinking smug of themselves but are really stupid in reality.

    Absolutely. These clowns are not smart – only able to pass exams and swear allegiance to a regime that gives them a life of luxury or doing nothing.

    The state of the State is proof enough. But since everything is covered up the ballsless 70% CHOOSE to look the other way. They will soon learn the hard way about the government they deserve.

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  • HarderTruths:

    Hagen, the Angry Rooster: The problem is the pigs are getting fatter & not ridden off. Before the trough breaks, better sell them off

    Bro – I agree nothing will be found when one day the Reserve vault is opened and all we find is a list of IOU’s. Pigs are not known to go on a diet.They even eat their own shit.

    The writing is on the wall. When Pinky or the Unholy One suddenly decide to retire that is your cue to get the f**k out if you can.

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