Standard Chartered Bank loses its IT director

The IT director of Standard Chartered Bank is to take early retirement following the completion of his year 2000 project.

Michael Green, 53, co-ordinated a three-year, multimillion pound global project which, at its peak, employed 500 people, according to the company.

The IT portfolio is to remain on board level after Green's departure, under the leadership of Mervyn Davies, group executive director. But Davies will split his time between IT and his existing responsibilities of China, Hong Kong and north-east Asia.

Standard Chartered denied it was reducing the status of IT by not dedicating an executive's entire resources to it. "The fact that we're transferring the IT portfolio to such a senior executive demonstrates our commitment to it," said company spokesman, Alex Blake-Milton.

He could not give reasons for Green's departure.

Green used to cover Latin America as well as IT, but his job description was changed last year, as year 2000 gained importance.