Arun Murthy, Standard Chartered Plc’s global head of commodities, is retiring after eight years with the London-based lender.
His last day is June 13, Valerie Tay, a Singapore-based spokeswoman for the bank, said in an e-mail Friday. Jeremy East, the bank’s head of metals trading and commodities for Greater China and North Asia, has been named as interim global head of commodities.
Murthy oversaw a unit that Standard Chartered established in 2007 amid a rally that took commodities prices to unprecedented levels the following year. He managed the business through the financial crisis and as the China-led global slowdown brought an end to the resources boom. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, has tumbled more than 60 percent from its mid-2008 peak.
East joined Standard Chartered in 2006 and led the bank’s entry into the Shanghai Gold Exchange, according to Tay’s e-mail. He has 25 years of experience in commodities.
Gene Kim, regional head of financial markets for Greater China and North Asia, left Standard Chartered at the end of April.