Standard Chartered shares slide after CFO quits for Apollo as results near

London, Feb 10, 2026, 12:05 GMT — Regular session

• Shares of Standard Chartered dropped roughly 4% as CFO Diego De Giorgi departed the bank with immediate effect.
• Peter Burrill, the deputy CFO, steps in as interim finance chief.
• Investors are waiting for the bank’s full-year results on Feb. 24, hoping those numbers shed some light on both its strategy and who’s next in line for leadership.

Shares of Standard Chartered slipped Tuesday after news broke that CFO Diego De Giorgi was out. The stock, listed in London, dropped 4.4% to 1,816 pence, down from Monday’s close at 1,899. 1

Standard Chartered’s finance chief is out just weeks ahead of the company’s full-year results—an announcement where the CFO usually lays out guidance and capital strategy. The timing slices through an ongoing revamp meant to sharpen returns and boost efficiency, according to the bank. 2

Jefferies analysts described the exit as “a particular blow,” highlighting De Giorgi’s hand in the “Fit for Growth” cost and efficiency overhaul. They also noted his contributions to investor communications—moves they said supported the bank’s valuation. 3

Standard Chartered has tapped deputy CFO Peter Burrill to step in as interim group CFO, with the bank saying a search for a permanent successor is underway. CEO Bill Winters called Burrill “provides valuable continuity” for the finance team. 4

The bank stated that De Giorgi’s resignation didn’t trigger any issues requiring disclosure to shareholders. It also clarified he’s out of the running for a 2025 annual incentive and won’t be getting a 2026 LTIP award—a long-term share-based payout.

Apollo has tapped De Giorgi as its new partner and EMEA chief, the firm announced. President Jim Zelter called the region a “growth engine” for Apollo. De Giorgi, for his part, said he’s “long viewed Apollo as one of the most innovative firms in financial services.” 5

Standard Chartered’s Hong Kong shares tumbled as much as 6.4% at one point, then pared back some of those losses, according to Reuters. The bank, pushing a strategy that leans more toward Asia and Africa, has tried to set itself apart from UK rivals like HSBC.

Monday’s announcement of a new CFO followed another shuffle: Standard Chartered tapped ex-UBS banker Raza Jafree to take over as global head of private client sales, part of the bank’s push to tighten the relationship between its investment bank and wealth arm. 6

Investors are watching closely to see if the finance team can maintain discipline on costs, capital, and buybacks without missing a beat. Leadership changes have drawn attention across major UK banks; in the market, De Giorgi was viewed as a possible contender for the CEO role.

Even so, any quick move in the shares might not stick if Standard Chartered’s upcoming update backs up its earnings and return goals. Over the past year, results and guidance have pushed the stock, with investors responding to more transparency around costs and capital.

Right now, traders are alert to possible shifts on the board or among senior management. They’re also scrutinizing how Standard Chartered approaches investor communications before results come out.

Looking ahead, Feb. 24 marks the next major event: Standard Chartered will release its Q4 and full-year 2025 results. 7