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Breakingviews: StanChart board needs more oomph

Monday, August 13, 2012 - 04:27

Aug. 13 - StanChart chairman John Peace should give bank his full attention. The board and non-execs need beefing up to help recover from the New York regulator accusations quicker say Breakingviews.

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Brian thanks topping the breaking his agenda today Weinstein a charted these governments through some of them opened to its board. And why -- is best reinvention is not us you the next act Chris Hughes joins I took the web strategy apiece. Little bit a little bit of blood and that's have a little bit of room and it's on its sport they -- it's right chairman John Kingston. You like him. -- you think the rest them -- a bit more we -- Well that's what quiet life of us we we do a lot of these but he's quite thin these spread. And now. Terrorists on -- office is. It's a big tall and this is a full time as president I think well even even actually even before the current troubles for the blew up I mean. That you're dealing with regulators and seventy jurisdictions this is not. And life. Even FTSE 110 inches mean I think it's previously thought. That the Davis effectively. That is full -- until now it's a piece of course. That this fantastical. Breaking up -- and Xperia and and you know he's he's he's got a great format recorders with business operates but. He's still retains two. Four C championships. And I'm I'm -- Struck Gaza saying it even went out all the positive benefits in well it's what do you think you should probably. No surrender at least one of those of -- championships to focus more on hold until the -- that when you look at the the boo -- borders on the -- that. It's a little bit underweight all not not all -- Banking Norman thing X. I mean has that it's it's got a few -- Give in the complexity of the institution that we were read through it and both in the moment you probably wanna beef it up a bit and bring on board. -- Not only is that. Talent and -- has got experience in the bank insecticide. If it is on pace. Makes it more time available -- on top of and you before the -- sexson and support him where if analysts say he's got some really good for us the experience I bet you're looking out. That's considerably stronger for the things take on the current challenges. All right I'm. -- -- reinvention. Now that picking up of course. Bank of America's non US part of bank assets. Price is well one and a half. Millions more who have lower peninsula billion dollars now you say this it's twenty rich given that this is known profitable this. This business that picking up. Well as -- -- closely look at that I mean natural. That the way that these deals than when we mention this is that the send suits. All of -- us on the management now. One out but in both the episodes worth about one point 2% which is buried alive I mean normally you'd expect. Sunday for wealth management business which senate passes the up you you'd expect from me in it infancy until they're fun. If -- in mid single digits before that but I mean. So first of this is -- cheap but let me cut through that its loss making the cost income racers and over a 100%. There's real work that has so while it is bad for this massive great passing it wrapped. They were sentenced to. Billion dollars with the process. It's called real operational. Around to execute. There is no surprise -- actually. That the defense says that that we're very happy today even those who had drug prices cheaper manufacturing. That of the pull performance that the loss making. Business in the front that is what's that is present rates and topless while touching excuse transaction. As the law office now. What are. -- so that. Chris -- thanks Chris -- for more insight watch on US breaking news Sharon. It comes on every day at 1230 east in 1730 PST. IMAX approach which is sources.

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Breakingviews: StanChart board needs more oomph

Monday, August 13, 2012 - 04:27