STANDARD CHARTERED has reportedly tapped former Chancellor Sajid Javid (pictured) and Treasury veteran Charles Roxburgh to succeed José Viñals as its chair.

Executive headhunter Spencer Stuart is said to be considering several City figures for the job, according to the Financial Times.

Viñals, formerly deputy governor of Spain's central bank, joined Standard Chartered in 2016.

The bank is expected to announce his departure as Viñals approaches the nine-year limit recommended by the UK's Corporate Governance Code.

One of his successor's top priorities will be overseeing the eventual departure of chief executive Bill Winters, who is the longest-serving CEO of a major UK bank after taking up the role in June 2015. The next chair will also be tasked with boosting the firm'shares, which have halved in value during Winters' tenure.

Javid has been informally touted, two unnamed sources told the FT. Now a backbencher, he served as Chancellor under Johnson.

Roxburgh, Javid and Stuart were all contacted for comment.

(c) 2024 City A.M., source Newspaper