Standard Chartered to crackdown on misbehaving bankers

Standard Chartered boss Bill Winters has launched a fresh crackdown on bad behaviour after a string of offences by some senior staff at the bank left him “disappointed and angry” with persistent rule-breaking.

Winters has started emailing all 84,000 bank staff warning them about consequences of breaking the rules after he claimed some staff thought they were “above the law”.

Four memos have been sent since April and follow probes which have uncovered a range of transgressions, ranging from false expenses to undisclosed investments by top staff, according to Bloomberg.

“I am concerned that a small number of employees, including some senior managers, have wilfully disregarded our policies, sometimes for personal gain, and set a poor example for their peers and teams,” Winters said in the first April memo, entitled #knowtherules.

Three senior bankers were fired for failing to tell the bank about an investment in an unlicensed Wonga-style money lender charging sky-high interest rates.