Senior boss leaves Standard Chartered as probe finds behaviour inappropriate

Standard Chartered's compliance chief has left the bank after the lender found his management style and behaviour offensive, inappropriate and out of line with its values.

The group launched an investigation into Neil Barry's behaviour earlier this year, following complaints from staff.

On Friday an internal memo, seen by the Press Association, shed further light on the case.

"As a result of the investigation, we went through a full and fair disciplinary process.

"This concluded that Neil's managerial style, behaviour and language towards some of his colleagues was inappropriate and not in line with our valued behaviours," it read.

While Standard Chartered said that his behaviour was not deemed serious enough to warrant dismissal, both parties agreed that Mr Barry will "move on and pursue other opportunities", leaving the bank with immediate effect.

"Neil has expressed his regret if any of his interactions with his colleagues caused upset or offence - that was never his intention. He has also acknowledged that as a senior leader he must role-model the highest standards of behaviour," the memo continued.

Tracey McDermott, former head of the Financial Conduct Authority, has taken up his role as head of compliance as well as head of corporate, public and regulatory affairs.

Mr Barry had been with Standard Chartered for nine years as head of compliance, prior to which he was at Citigroup for three years.