Controversial Standard Chartered Bank (SCB) CEO Clive Haswell is being transferred from his post in Sri Lanka, well informed sources said. They said Mr Haswell has been transferred to a regional position in Dubai, staff were informed through an internal notice on Friday.
Clive Haswell |
SCB has been embroiled in controversy over the past year due to the oil hedging deals the bank entered into with the Ceylon Petroleum Corporation (CPC) which experts described as one-sided and favoured SCB and four other banks.
Allegations have also been made against Mr. Haswell by SCB’s former Head of Corporate Relations in a sworn affidavit submitted to the Supreme Court a few months ago that he persuaded former CPC Chairman Asantha De Mel into entering the contracts to secure huge profits for the Bank, a commission of approximately Rs.1 billion and bonuses for himself and other top management.
Mr. Haswell has served as SCB Sri Lanka CEO since 2007 after taking over from former CEO Vishnu Mohan. Another bank involved in the hedging contracts, Citibank, saw its CEO Dennis Hussey transferred to Japan in June 2009 to a non-CEO position. |
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