Standard Chartered Hires Ex-WestLB Analyst Davies for U.S. Rates

Standard Chartered Plc hired former WestLB AG analyst John Davies as a U.S. interest-rates strategist in London.

Davies, who had been with WestLB since 1999, left its successor, Portigon AG, earlier this month, he said today in an e-mailed response to questions. Davies said he took up his new position on April 15.

Standard Chartered spokesman Shaun Gamble confirmed the appointment via e-mail today. Davies will report to Michael Trounce, head of local markets strategy west, Gamble said.

The European Commission ordered WestLB to cease operations in June as a condition tied to the 17 billion euros ($22.2 billion) in aid the state-owned bank received from taxpayers following the 2007 U.S. housing market meltdown. Portigon is helping a state-owned entity sell WestLB’s holdings.