Since taking over as CEO of Standard Chartered last June, Bill Winters has made it his mission to ferret out wrongdoing big and small, and let employees know that anything from outright illegal activity to mildly questionable behavior would not be tolerated. He's put his foot down on StanChart's time honored money-laundering tradition. He's put an end to the good ole days of three-martini lunches and a porterhouse-for-two-for-one on the firm's dime. He's even brought the pain to bankers caught lending money to colleagues, which is against compliance rules but was previously sort of just frowned upon. But some people still just don't get it and that's why B-Dubs has been forced to bring out THE BIG GUNS.
The lender is cracking down after “recent transgressions” concerning some employees’ outside business interests, close financial dealings with co-workers and excessive expenses, according to a series of memos issued over the past two months that were seen by Bloomberg News...“I am concerned that a small number of employees, including some senior managers, have willfully disregarded our policies -- sometimes for personal gain -- and set a poor example for their peers and teams,” Winters, the bank’s chief executive officer, said in the first memo, sent in April, titled #knowtherules.
Keep it up and y'all can expect to be on the receiving end of memos titled: