New chief who can get things cooking

MERVYN Davies, new chief executive at Standard Chartered, was busy in the kitchen on Wednesday night. As Rana Talwar agreed to leave the bank and the board decided to appoint Davies as his successor, the Welshman was preparing a meal for 20 of Hong Kong's most prominent figures.

Davies had arranged a charity auction, inviting bidders to pay for the privilege of attending a dinner at which he would do the cooking. Leading members of the Hong Kong government and the business community were in his flat when the calls began to come through from London.

The crème brûlée cooked as Davies learned of his promotion. 'The dinner gives a flavour of what Mervyn is like. He is lively, enthusiastic and an amazing people person,' said a Standard insider.

Davies joined the group from Citibank in 1993 and became a director four years ago. He has been responsible for Standard's Hong Kong business, the largest contributor to group profits. He turned 49 earlier this week and is married with two children. He is fluent in Welsh, a keen sportsman and is interested in art and opera. Davies spent 10 years with Citibank where he was managing director for UK banking and a senior credit officer. Before that, he worked for Midland, now part of HSBC.

A colleague described him as 'extremely charismatic but tough inside'. He is popular within Standard Chartered and is thought to have a more hands-on management style than his predecessor. 'He will be getting out and about, really getting into the heart of the bank around the world,' said a bank director.

Standard chairman Sir Patrick Gillam said: 'Mervyn Davies is a lifelong professional banker. He has played an integral role in establishing our strategy. He has a remarkable ability to lead and inspire people and he has led Hong Kong in a way it has not been led since I've been here.'

Davies has been deeply involved in Hong Kong's business and art communities and will almost certainly miss the lifestyle when he returns.

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