Standard Chartered names Manus Costello permanent chief financial officer

Standard Chartered has ended months of interim finance leadership by naming Manus Costello its permanent chief financial officer, a move that points to continuity after Diego De Giorgi’s abrupt departure and a tighter focus on capital discipline ahead.

Costello, 50, joined the London-based bank in April 2024 as global head of investor relations and will first take the role of interim GCFO before moving into the permanent post, subject to regulatory approval. He will also join the board as an executive director, also subject to approval, and will be based in London reporting directly to chief executive Bill Winters. Standard Chartered said Costello has already made a significant contribution to the group’s strategic positioning and stakeholder engagement.

The appointment closes a leadership gap that opened on February 10, 2026, when Peter Burrill was named interim group chief financial officer after Diego De Giorgi stepped down with immediate effect to pursue an external opportunity. Standard Chartered said at the time that there were no matters about De Giorgi’s resignation that needed to be brought to shareholders’ attention. Apollo Global Management later announced De Giorgi as partner and head of EMEA. The sudden turnover had raised questions about succession at a bank where the finance chief is central to investor communication and capital planning.

Costello’s background helps explain the choice. He brings 25 years of experience in equity research and was a founding partner and global head of research at Autonomous, a profile built around markets, valuation and shareholder messaging rather than only accounting controls. For a bank operating in 54 markets across Asia, Africa and other regions, that matters. Standard Chartered’s business model leaves it exposed to shifting growth, regulation and capital demands across a footprint far more complex than many global peers.

The timing also matters because Standard Chartered is entering its next strategic phase from a position of strength, but with demanding targets. The bank reported an underlying return on tangible equity of 14.7% for full-year 2025 and announced a new $1.5 billion share buyback. It also said shareholder distributions announced since February 2024 totaled about $9.1 billion. In April 2026, the lender said reported income for the year was expected to grow toward the bottom end of a 5% to 7% range and reported costs should be broadly flat.

That combination of strong capital returns, modest income growth and flat costs puts extra weight on the CFO role. By choosing a relatively recent internal hire and ending the interim arrangement now, Standard Chartered is signaling that it wants a smooth handoff, not a reset. The bank is pairing that message with another senior change, as Tanuj Kapilashrami takes over as group chief operating officer, underscoring a broader management reshaping aimed at execution rather than disruption.