Standard Chartered Bank is expected to announce the appointment of International Monetary Fund executive Jose Vinals as its next chairman. He will be replacing long-serving chairman Sir John Peace in December. He will receive an annual fee of £1.25 million for the role. Sir John Peace’s departure was announced early last year, but it has taken 17 months to find a replacement. Vinals is currently the financial counsellor and director of the Monetary and Capital Markets Department of the IMF, a job that includes overseeing the Fund’s monetary and financial sector work. He is also the IMF’s chief spokesman on financial matters, including global financial stability. Earlier, Vinals had spent 7 years on the Plenary and Steering Committee of the Financial Stability Board – an organization that is responsible for much of the global regulation of banks.
