Overview
- Standard Chartered said Diego De Giorgi left the group to head Apollo’s Europe, Middle East and Africa operations.
- Shares in the FTSE 100 lender fell as much as 5.7% in early London trading after the announcement.
- Apollo said De Giorgi will succeed partner Rob Seminara, who will remain to support the transition before moving to new global duties later this year.
- Peter Burrill, currently group head of central finance and deputy CFO, was named interim group CFO and will report to CEO Bill Winters.
- De Giorgi has been credited with driving the 2024 ‘Fit for Growth’ program targeting about $1.5bn of cost reductions and had been viewed as a potential successor to Winters.