William Winters, Formerly of JPMorgan, Named Chief Executive of Standard Chartered

The British bank Standard Chartered shook up its leadership on Thursday, replacing its longtime chief executive with the American banker William T. Winters and announcing the departure of its chairman and several directors.

Peter Sands, who was appointed chief executive in 2006, will leave the board of directors and step down as the lender’s top executive in June. He will be replaced by Mr. Winters, the former co-chief of JPMorgan Chase’s investment bank and onetime heir apparent to the American bank’s longtime boss, Jamie Dimon.

News reports in Britain this year and last summer said that some of the bank’s largest shareholders were pushing for a change in the leadership of Standard Chartered, which generates most of its revenue in Asia and has struggled to weather difficult market conditions in recent years.

Over time, Standard Chartered intends to shrink its board to 14 directors.

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The New York Times