Standard Chartered creates role to ease regulatory burden

Standard Chartered is seeking to improve its regulatory relationships across the globe with the creation of a new legal role after it bought a stake in a Pakistani bank.

As first reported by The Lawyer (17 July), group head of legal David Brimacombe is relocating from London to Dubai to take up the position.

In his new role he will be responsible for forging and maintaining regulatory relationships in Africa, the US, Europe and the Middle East. He will also be responsible for managing legal teams in those areas. The job is based in Dubai because it a better hub for travelling to the bank’s key jurisdictions.

Brimacombe’s move is one of a series of changes the bank has made to its legal department. This month it hired its first employment specialist in the shape of Rebecca Priestley from Simmons & Simmons.

Standard Chartered specialises in emerging markets, with more than 95 per cent its of profit coming from Asia, Africa and the Middle East. Last week the bank signed a deal for an 81 per cent stake in Pakistan’s Union Bank.

Brimacombe is currently group head of legal, responsible for company issues at the bank, which has yet to appoint a replacement in the UK.