BOARD OF DIRECTORS

E Mervyn Davies CBE

Chairman
Appointed to the Board on 16 December 1997. He was appointed as Chairman on 20 November 2006. Immediately prior to this
he had been Group Chief Executive since 28 November 2001. Before his appointment as Group Chief Executive he was the
executive director with responsibility for Hong Kong, China and North East Asia and for Group-wide Technology and
Operations. He is a non-executive director of Tesco PLC and Tottenham Hotspur plc and is Chairman of Fleming Family &
Partners Limited. He is also Chairman of the Government’s Business Council for Britain and the Chair of Council of Bangor
University. Age 55.

John Peace†
Deputy Chairman and Senior Independent Director
Appointed to the Board on 1 August 2007. He is Chairman of Experian Group Limited and Burberry Group plc. He is also
Chairman of the Board of Governors of Nottingham Trent University, Deputy Lieutenant for the County of Nottinghamshire, a
Fellow of the Royal Society of Arts and Chairman of The Work Foundation. Previously he was Group Chief Executive of GUS
plc from 2000 until 2006, having been a director of GUS since 1997. Age 58.

John Peace†
Deputy Chairman and Senior Independent Director
Appointed to the Board on 1 August 2007. He is Chairman of Experian Group Limited and Burberry Group plc. He is also
Chairman of the Board of Governors of Nottingham Trent University, Deputy Lieutenant for the County of Nottinghamshire, a
Fellow of the Royal Society of Arts and Chairman of The Work Foundation. Previously he was Group Chief Executive of GUS
plc from 2000 until 2006, having been a director of GUS since 1997. Age 58.

Gareth Bullock*
Appointed to the Board on 6 August 2007. He is Group Executive Director with responsibility for growth and governance in
Africa, the Middle East, Europe and the Americas and for Risk and Special Asset Management. He joined Standard Chartered in
1996 and was appointed as a director of Standard Chartered Bank in 2003. His previous senior appointments include Group Head
of Strategy, Group Chief Information Officer and CEO Africa. He is Chairman of Mcashback Limited and is a non-executive
director of Fleming Family & Partners Limited and of Spirax-Sarco Engineering plc. Age 54.

Val Gooding CBE†

Appointed to the Board on 1 January 2005. She is Chief Executive Officer of BUPA and a non-executive director of J Sainsbury
plc and of the Lawn Tennis Association and of the BBC’s Executive Board. She is also a Trustee of the British Museum.
Previously she was Director, Asia Pacific with British Airways. Age 57.

Rudy Markham†
Appointed to the Board on 19 February 2001. He is a non-executive director of Legal and General Group Plc and of United
Parcel Service, Inc. and is a member of the Board of the Financial Reporting Council. Previously he was Chief Financial Officer
of Unilever. Age 61.

Ruth Markland†
Appointed to the Board on 3 November 2003. She is Chairman of the Board of Trustees of the WRVS and a non-executive
director of The Sage Group plc. Previously she was Managing Partner Asia for the international law firm Freshfields Bruckhaus
Deringer. Age 55.

Sunil Mittal†
Appointed to the Board 1 August 2007. He is Chairman and Group CEO of Bharti Enterprises and President of the Confederation
of Indian Industry. He sits on various boards and councils including the Prime Minister of India’s Council on Trade and Industry,
the India Advisory Council of the Harvard Business School and the Singapore-India Partnership Foundation. He is the recipient
of Padma Bhushan, one of the highest civilian awards in India. Age 50.

Mike DeNoma*
Appointed to the Board on 12 May 2000. He is Group Executive Director with responsibility for the Group’s Consumer Banking
business worldwide and leads the Group’s Strategy function. He joined Standard Chartered in 1999 with responsibility for
Consumer Banking in Asia. He is also a director of Standard Chartered Bank (Hong Kong) Limited, of MasterCard Asia Pacific
Pte Ltd and of the International Centre for Missing and Exploited Children, and is a member of the board of Singapore
Management University. He is based in Singapore. Age 51.

Richard Meddings*
Appointed to the Board on 16 November 2002. He was appointed as Group Finance Director on 20 November 2006 and is
responsible for Finance, Corporate Treasury and Corporate Development. Immediately prior to this he was Group Executive
Director responsible for growth and governance across Africa, the Middle East, Pakistan, the United Kingdom, Europe and the
Americas and before that was responsible for Risk, Special Assets Management and Legal & Compliance. Before his
appointment to the Standard Chartered PLC Board he was Chief Operating Officer, Barclays Private Clients at Barclays PLC and
prior to that Group Financial Controller at Barclays PLC. Age 49.

Sir CK Chow†
Appointed to the Board on 24 February 1997. He is Chief Executive Officer of MTR Corporation Limited of Hong Kong and is
non-executive Chairman of Standard Chartered Bank (Hong Kong) Limited. He is a member of the Hong Kong Tourism Board,
the Council of the Chinese University of Hong Kong and the Council of the Hong Kong General Chamber of Commerce.
Previously he was Chief Executive Officer of GKN plc and Brambles Industries plc. He is based in Hong Kong. Age 57.

Jamie Dundas†
Appointed to the Board on 15 March 2004. He is Chairman of Jupiter Investment Management Holdings Limited and a non-
executive director of Drax Group plc. He is also Chairman of Macmillan Cancer Support. Previously he was Chief Executive
Officer of the UK property company MEPC and Finance Director of the Airport Authority Hong Kong. Age 57

Paul Skinner†
Appointed to the Board on 3 November 2003. He is Chairman of Rio Tinto plc and is a non-executive director of the Tetra Laval
Group and L’Air Liquide SA. He is also a member of the board of INSEAD and of the Defence Board of the UK Ministry of
Defence. Previously he was a director of The ‘Shell’ Transport and Trading Company plc and Group Managing Director of the
Royal Dutch/Shell Group of companies where he was CEO of its global Oil Products business. Age 63.

Oliver Stocken†
Appointed to the Board on 1 June 2004. He is Chairman of Home Retail Group plc, Deputy Chairman of 3i plc and Chairman of
Oval Limited and Stanhope Group Holdings Limited. He is also Chairman of the Trustees of the Natural History Museum.
Previously he was Group Finance Director of Barclays PLC. Age 66.

Lord Turner†
Appointed to the Board on 1 August 2006. He is a non-executive director of United Business Media plc, Siemens Holdings plc
and Paternoster UK Limited. He is also Chairman of the Overseas Development Institute, the Climate Change Committee and of
the Economic and Social Research Council, and is a member of the Board of Trustees of Save the Children Fund UK. Previously
he was Director General of the CBI and Vice Chairman of Merrill Lynch Europe Limited. Age 52

Our Vision
“Catalyst for change”
“We have a key role to play in stimulating economic and social development through the
services we provide and by being a force for good. The success of our business depends on this.”
Peter Sands, Group Chief Executive
At Standard Chartered, we are determined to lead by example within the markets in which we
operate. As well as contributing to economic growth through our core business activities, we
want to help protect the environment and to have a broader positive impact on the societies in
which we live and work. And as we engage as a partner with governments and communities in
addressing these wider challenges, we are learning more about how the issues interact with each
other and our core business objectives.
By being a high-performing bank, helping people and companies borrow, save and make
transactions, we naturally play a role in creating wealth and stimulating growth. From the
perspective of shareholder value creation, the more successful a country becomes, the more
successful we can be. But long-term growth depends on how well we all manage risk, including
the social and environmental issues that can impede or undermine sustainable growth.
So why is sustainability important to us? With our business spread across Asia, Africa and the
Middle East, the Bank is hosted by communities that are the most vulnerable to climate change
and widening social and economic disparities. We have a key role to play in stimulating
economic and social development through the services we provide and by being a force for good.
The success of our business depends on this.
Standard Chartered has long valued relationships with customers, governments, social
organisations and regulators that we have built over 150 years of business experience in these
markets. This puts us in a strong position to collaborate effectively with various stakeholders to
respond to the challenges faced. The issues present both risks and opportunities for us. 
We apply three tests to decide which areas of sustainability to focus on: first, we ensure that what
we do is relevant to the markets we operate in; second, we want to do things which leverage our
capabilities and infrastructure; and third, we focus on where we can add distinctive value both
for our business and the countries in which we operate.
I believe this year we have started to deliver real examples that have met the three tests. The
examples that I am particularly proud of include:

SEVEN S MODEL

SHARED VALUES

Principles

Leading by example to be the right partner for its stakeholders, the Group is committed to
building a sustainable business over the long term that is trusted worldwide for upholding
high standards of corporate governance, social responsibility, environmental protection and
employee diversity. It employs over 75,000 people, nearly half of whom are women, The
Group's employees are of 125 nationalities, of which about 70 are represented among senior
management.

What we stand for

Strategic intent
 To be the world's best international bank
  Leading the way in Asia, Africa and the Middle East

Brand promise
 Leading by Example to be The Right Partner

Values
 Courageous
 Responsive
 International
 Creative
 Trustworthy

Approach
 Participation
Focusing on attractive, growing markets where we can leverage our relationships and
expertise
 Competitive positioning
Combining global capability, deep local knowledge and creativity to outperform our
competitors
 Management Discipline
Continuously improving the way we work, balancing the pursuit of growth with firm
control of costs and risks

Commitment to stakeholders
 Customers
Passionate about our customers' success, delighting them with the quality of our service
 Our People
Helping our people to grow, enabling individuals to make a difference and teams to win
 Communities
Trusted and caring, dedicated to making a difference
 Investors
A distinctive investment delivering outstanding performance and superior returns
 Regulators
Exemplary governance and ethics wherever we are
 1. COMPETITIVE POSITION IN INTERNATIONAL CORPORATE PAYMENTS

Bank in the industry using the Porter’s 5 force model. The five competitive forces are typically
described as follows:

1) Competitive rivalry within the industry:

Since electronically, corporate payments is a relatively new horizon there is less

differentiation within the industry and the rivals are also less in numbers. The competitors
are HSBC, HDFC, Citibank, and Deutsche Bank.The rest of the banks do perform
corporate payments but is a small quantity and do not use the electronic mode.

2) Bargaining power of suppliers:

There are no suppliers to a bank because it is into services and not manufacturing.
 3) Bargaining power of customers:

Bargaining power of customers is relatively less since there are very few competitors.
There is not much difference in the product range of the services. The customers can
easily shift to other banks if they are not satisfied with the services provided by the
existing bank because the switching cost is next to nil.

4) Threat of new entrants:

Since there are very few banks who provide the net-banking services for corporates , the
threat of new customer entry is very high. But since the RBI rules and regulations are
very strict it is a big entry barrier.

5) Threat of substitutes:

The substitute for electronic payment is manual payment. Though manual payment takes
longer time to complete it is taken to be a much safer method than electronic payment.
But in the long run it is the electronic payments which have a future.

FUTURE PLANS

The advancement in technology, especially internet and information technology has led to new
ways of doing business in banking. These technologies have cut down time, working
simultaneously on different issues and increasing efficiency. The platform where communication
technology and information technology are merged to suit core needs of banking is known as
Core Banking Solutions. Here computer software is developed to perform core operations of
banking like recording of transactions, passbook maintenance, interest calculations on loans and
deposits, customer records, balance of payments and withdrawal are done. This software is
installed at different branches of bank and then interconnected by means of communication lines
like telephones, satellite, internet etc. It allows the user (customers) to operate accounts from any
branch if it has installed core banking solutions. This new platform has changed the way banks
are working.
Hence Standard Chartered in the future plans to fully automate the system starting from the
request of the payment which is made through the online banking solution Straight2Bank with
straight through processing of documents required taken electronically to the verifying without
manual interventions.