October 9, 2018 / 11:01 AM / 7 months ago

StanChart CEO criticises media coverage of bank's Iran sanctions controls - memo

LONDON, Oct 9 (Reuters) - Standard Chartered Chief Executive Bill Winters hit back at critical media coverage of the bank’s attempts to improve its financial crime controls, in a memo sent to hundreds of senior managers at the bank on Tuesday.

Winters sought to reassure staff about StanChart’s recent financial performance and progress mending flaws in regulatory compliance, after media reported last week that the lender faced a possible $1.5 billion fine for past Iran-related sanctions violations.

A spokesman for the bank confirmed the contents of the memo but declined to comment further. (Reporting by Lawrence White Editing by Sinead Cruise and Edmund Blair)

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