By Joe Wallace

The succession race at Standard Chartered, the emerging-markets focused bank, has been shaken up by the unexpected departure of its chief financial officer.

Diego De Giorgi had been a front-runner to succeed longtime Chief Executive Bill Winters. Now, however, he is leaving to lead Apollo in Europe, the Middle East and Africa.

The private-markets investor is making a big push in the region, seeking to profit from Europe's investments in defense, energy infrastructure and industry. Apollo manages $155 billion in assets across the so-called EMEA region.

StanChart shares fell more than 4% in London. Analysts credit De Giorgi, a former investment banker at Goldman Sachs and Merrill Lynch, with shaping an efficiency program that has boosted profit and the bank's share price. They said he has improved communication with investors since becoming CFO two years ago.

Even with Tuesday's loss, the stock is almost triple its level from February 2024, when Winters lamented the price as "crap".

Winters, who has led StanChart since 2015, previously indicated he planned to step down at the end of 2026. De Giorgi's departure could lead to a more protracted selection process, leaving Winters in post longer, said a person familiar with the matter.

Possible internal candidates include Roberto Hoornweg, head of corporate and investment banking, and international president Benjamin Hung, a Hong Kong finance veteran.

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(END) Dow Jones Newswires

February 10, 2026 07:59 ET (12:59 GMT)

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