Standard Chartered compliance chief resigns following probe

Standard Chartered bank's compliance chief Neil Barry is set to leave the firm with immediate effect following an internal investigation into his behaviour.

Standard's investigation concluded that Barry's "managerial style, behaviour and language towards some of his colleagues was inappropriate", but noted that it "fell short of warranting his dismissal."

Barry has expressed regret for his actions, according to a memo seen by Reuters; however, he was not immediately available for comment.

The memo read, "Neil has expressed his regret if any of his interactions with his colleagues caused upset or offence — that was never his intention. He has also acknowledged that as a senior leader he must role-model the highest standards of behaviour."

"Neil and the bank have agreed that, in the circumstances, he will move on and pursue other opportunities. He will, therefore, leave the bank with immediate effect," it added.

The compliance head's temporary exit, announced on 16 March, came just three years after the American relocated to London from the bank's Singapore office.

As of 1200 BST, Standard shares had lost 1.72% to 731.13p.