Company Announcements

Appointment of Non-executive Director

Source: RNS
RNS Number : 8301U
Standard Bank Group Limited
31 July 2020

Standard Bank Group Limited

The Standard Bank of South Africa Limited

31 July 2020



Standard Bank Group is pleased to announce the appointment of Dr Xueqing Guan as non-executive director and joint deputy chairman of the board of directors of the Company and non-executive director of The Standard Bank of South Africa Limited with effect from 01 August 2020.

Dr Guan (56) holds a Doctorate degree in Economics from the Southwestern University of Finance. He currently serves as the Board Secretary of Industrial and Commercial Bank of China Limited ("ICBC"), a position he has held since July 2016.  He joined ICBC in 1984 holding various positions including Head of Suining Branch in Sichuan, Representative of ICBC Frankfurt Representative Office and General Manager of Corporate Strategy and Investor Relations Department of ICBC.

Dr Guan's appointment to Standard Bank Group is effected in terms of an agreement between Standard Bank Group and ICBC, a 20% shareholder of Standard Bank Group, wherein ICBC is entitled to nominate two non-executive directors for appointment to the board, one of whom serves as a senior deputy chairman. Dr Guan replaces Dr Hao Hu who resigned from the board on 24 February 2020.

For further information, please contact:

Ann Hunter

Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: +27 11 415 4194


This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.

In the United Kingdom, this Announcement is being distributed only to, and is directed only at, persons who are (i) investment professionals, as such term is defined in Article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the Financial Promotion Order); (ii) persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order; (iii) outside the United Kingdom; or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any Notes may otherwise lawfully be communicated or caused to be communicated.

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