StanChart CFO Abruptly Exits for Apollo

Why It Matters

The abrupt CFO exit creates short‑term uncertainty for StanChart’s finance leadership and may pressure its stock, while Apollo gains a seasoned banker to accelerate growth in a competitive EMEA market.

Key Takeaways

• De Giorgi exits StanChart for Apollo, immediate effect.
• Shares dropped 5.74% after CFO departure announcement.
• Peter Burrill named interim CFO, ensuring finance continuity.
• Apollo adds veteran banker to lead EMEA business.
• StanChart yet to name permanent CFO, may affect strategy.

Pulse Analysis

The sudden departure of Diego De Giorgi from Standard Chartered underscores how quickly senior talent can shift the strategic calculus of large financial institutions. Investors reacted sharply, with the bank’s shares sliding nearly 6% as analysts reassessed the continuity of its finance function. While the interim appointment of Peter Burrill provides immediate stability, the lack of a permanent CFO signals a potential gap in long‑term financial planning, especially as the bank navigates volatile emerging‑market exposures and regulatory pressures.

Apollo Global Management’s recruitment of De Giorgi reflects a broader trend of asset managers poaching seasoned bankers to deepen regional expertise. De Giorgi’s résumé—spanning senior roles at Goldman Sachs, Bank of America, and a SPAC leadership stint—offers Apollo a rare blend of investment‑banking acumen and European market insight. Managing roughly $155 billion in EMEA assets, Apollo aims to leverage his network to expand product offerings, win new institutional mandates, and compete more aggressively against rivals such as BlackRock and Vanguard in the continent’s growing alternative‑investment space.

For Standard Chartered, the CFO turnover arrives amid a modest earnings uptick, with operating income rising 5% year‑over‑year. The bank now faces the dual challenge of reassuring shareholders while identifying a successor capable of steering its finance agenda through ongoing digital transformation and tightening capital requirements. The episode also highlights the fragility of succession pipelines in global banks, where a single departure can ripple through market perception and strategic execution. Stakeholders will watch closely how quickly StanChart can appoint a permanent CFO and whether the interim leadership can sustain momentum on cost‑control and growth initiatives.

StanChart CFO abruptly exits for Apollo

London‑based Standard Chartered announced Tuesday that its group CFO Diego De Giorgi is stepping down with immediate effect to pursue an external opportunity. · Feb. 10, 2026 · Maura Webber Sadovi

A man walks by Standard Chartered bank’s offices in 2012 in London, England. Matthew Lloyd via Getty Images

Dive Brief

• London‑based Standard Chartered announced Tuesday that its group CFO Diego De Giorgi is stepping down from his role and leaving the company “with immediate effect,” for an unnamed “external opportunity.”

• The bank appointed Peter Burrill, currently group head, central finance and deputy CFO, to serve as interim CFO until a permanent successor is named. StanChart Group CEO Bill Winters thanked De Giorgi for his contribution and cited Burrill’s “extensive sectoral” experience, noting in the release that he provides “valuable continuity to the leadership of our finance function.”

• New York‑based Apollo Global Management announced in a release dated just before midnight EST Monday that it had hired De Giorgi to join the asset manager as a partner and head of EMEA, succeeding Rob Seminara in the role.

Dive Insight

De Giorgi’s departure comes just over two years after he took the StanChart post. Bloomberg reported his exit caught investors and analysts by surprise, as he had been seen as a likely successor to Winters. The company’s shares slid 5.74 % Tuesday.

StanChart declined to comment beyond its release. The global bank is losing an industry veteran with deep investment‑banking experience.

De Giorgi has spent more than 30 years working for global banks in London, according to the Apollo release. Prior to joining StanChart in 2023, he was most recently the co‑chief executive of special‑purpose acquisition company Pegasus Europe. He has also served in leadership roles at Bank of America, including as head of global investment banking (2015‑2019) and co‑head of corporate and investment banking for the EMEA region (2013‑2015). For nearly two decades he worked at Goldman Sachs, holding various roles, including COO of the company’s investment‑banking division; he left Goldman in 2012.

Apollo has about $155 billion in assets under management in EMEA and established the group’s headquarters in London more than two decades ago, according to the release.

“We have known Diego for many years and believe he will be a terrific steward of business in this next phase, bringing significant industry experience and a European perspective,” Apollo President Jim Zelter said. “He starts in a position of strength, succeeding Rob who has overseen strong AUM growth, the formation of new businesses and a continued expansion in local markets during his tenure in Europe.”

StanChart said it will announce a permanent GCFO “in due course.” Burrill, who will be based in London, has worked in a range of senior roles at StanChart since joining the bank in 2017 from Deutsche Bank, where he served as group controller, co‑head‑group finance (2013‑2017). He is also a former partner at the Big Four firm KPMG.

In the latest reported earnings, StanChart reported operating income rose 5 % year‑over‑year to $5.1 billion for the third quarter ended Sept. 30, excluding notable items related to Ghana hyperinflation and the revaluation of FX positions in Egypt.