Standard Chartered chief Peter Sands accepts Banker of the Year award - video
In a recorded message at Euromoney’s Awards for Excellence 2012 dinner, Sands urges his banking peers to rediscover their “social legitimacy” as he accepts Banker of the Year award
At Euromoney’s Awards for Excellence dinner on July 5, Sands, upon accepting the Banker of the Year award, struck a conciliatory tone as he warned that the banking industry has “lost the trust of the public” and urged banks to return to their “proper” role in society in supporting borrowers and savers.
In a turbulent week that saw the departure of Barclays’ CEO Bob Diamond amid the Libor scandal, he added “good banking is never needed more than now”.
Sands is one of the few banking executives to emerge from the crisis with reputation intact. During the past five years, Standard Chartered has doubled both revenues and profits, sticking firmly to its strategy of focusing on the markets of Asia, the Middle East and Africa. What’s more, Sands' articulate contributions on financial regulation and the social virtues of banking have buttressed his reputation as a thoughtful champion for the industry.
For his highly successful tenure as head of the leading emerging markets bank, as well as his thoughtful interventions on the future of the industry, Peter Sands must rank as one of the best bankers of his generation.