Cutting leaves Stanchart

| Thursday December 2, 2010 00:00

 

David will be leaving Botswana to take up his next role with Standard Chartered PLC, having completed his full assignment in Botswana.

Cutting joined Standard Chartered Bank Botswana in 2007, having previously served as Managing Director and Chief Executive Officer at Standard Chartered Bank Uganda and Standard Chartered Bank Nigeria. Under David's leadership through the global financial crisis, Standard Chartered Bank Botswana saw its revenues rise over 16 percent from P633.5 million in 2007, to P740.5 million in 2009. In a press release, the bank said  since 2007/08, Cutting  has also overseen Stanchart's strategy to become a core bank to its key clients by using its international expertise and global product capability to pioneer the introduction of new financial products into the Botswana market.

In addition, Cutting has successfully overseen the Bank's other key strategic focus which was to remain extremely disciplined on the management of costs and risk.

Michael Wiegand (currently the Regional Head of the Consumer Banking division, Southern Africa) will be Acting Chief Executive Officer. Standard Chartered say they will announce their new Managing Director and Chief Executive Officer in due course.