Appointment of Non-executive DirectorSource: RNS
Standard Bank Group Limited
The Standard Bank of South Africa Limited
31 July 2020
APPOINTMENT OF A NON-EXECUTIVE DIRECTOR
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:
Standard Bank Group Limited
5 Simmonds Street, Johannesburg PO Box 2001
Telephone number: +27 11 415 4194
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