How Sands fell from grace at Standard Chartered

LONDON/HONG KONG (Reuters) - In summer 2012 Peter Sands was flying high as Standard Chartered Chief Executive, batting back questions on whether he was tempted to run Barclays or even the Bank of England. Praised for steering a safe path through the financial crisis, the former McKinsey consultant had just delivered bumper half-year earnings to set his Asia-focused bank on course for a 10th straight year of record profits. It was the start of a run of trouble that saw Sands ousted on Thursday following a rebellion by key shareholders. Investors cited failures in strategy, execution and governance, leaving new CEO Bill Winters with a lot to do.

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