Standard Chartered has appointed William Thomas Winters to the Board as Group Chief Executive.

He will join the Group on May 1, 2015. He will be appointed in June 2015 and will be based in London.

Peter Sands will step down from the Board and as Group Chief Executive in June 2015.

In addition, Sir John Peace, Chairman, has indicated an intention to step down from the Board during the course of 2016, allowing time for Winters to transition into his new role and to ensure Board level continuity.

He said: “Bill is a globally respected banker and has the right experience and skills to drive the Group’s new phase of growth. He brings substantial financial experience from leading a successful global business and has an exceptional understanding of the global regulatory and conduct environment. He’s also a proven leader with a strong track record in nurturing and developing talent.”

“Peter has made an immense contribution to the success of the Group and has had a transformative impact during his 13 year tenure as both Group Chief Executive and previously as Group Finance Director. Since becoming Group Chief Executive in 2006, the Group has more than doubled in size, has been consistently profitable and has returned over USD12 billion of dividends to shareholders. His leadership and insight, over a period of huge change and challenge for the entire industry, ensures he leaves the Group well placed to achieve its full potential as one of the world’s leading financial institutions,” he added.

Standard Chartered also announced that Jaspal Bindra, Group Executive Director and Chief Executive Officer, Asia, will be stepping down from the Board, with effect from April 30, 2015 and will leave the Group shortly thereafter.

A further announcement on his current role will be made in due course.

The Group also announced that three long standing Directors will step down and two new Directors will join the Board.

Ruth Markland, Senior Independent Director and Paul Skinner, independent Non-Executive Director, who have both served on the Board since November 2003, will retire from the Board by the end of 2015.

Christine Hodgson, independent Non-Executive Director, who joined the Board in September 2013, will be appointed as Remuneration Committee Chair with effect from 7 May 2015.

In addition, Oliver Stocken, independent Non-Executive Director, who has served on the Board since June 2004, will step down on 28 February 2015.

Finally, Gay Huey Evans and Jasmine Whitbread will join the Board as independent Non-Executive Directors, with effect from April 1, 2015.

Evans is an experienced non-executive director with significant commercial, financial services and regulatory experience, having spent 26 years working in a variety of executive roles in a number of global finance and banking institutions.

She was Vice Chairman, Investment Banking & Investment Management, at Barclays Capital from 2008 to 2010 and prior to that was Head of Governance, Citi Alternative Investments (EMEA).

She also spent seven years at the Financial Services Authority, where she served as Director of Markets Division.

Whitbread brings significant business leadership experience as well as first-hand experience of operating across our markets.

She is the CEO of Save the Children International, a role she has held since 2010, with extensive experience and a deep understanding of operating successfully in highly regulated, political and unpredictable environments.

Prior to joining Save the Children, Jasmine spent six years with Oxfam, first as Regional Director in West Africa, and then as International Director responsible for Oxfam's programmes worldwide.

Peace said: “Ruth, Jaspal, Paul and Oliver have all made enormous contributions to the Board and the wider Group. I welcome Gay and Jasmine who will bring a diverse range of experiences providing valuable insight and perspective to the Board.”