Standard Chartered has named Manus Costello as its permanent Group Chief Financial Officer, ending a search that began when predecessor Diego De Giorgi abruptly departed earlier this year. The appointment is effective immediately, though Costello’s board seat still requires regulatory sign-off.

Costello, 50, joined Standard Chartered in 2024 as global head of investor relations. He stepped into the interim CFO role after De Giorgi resigned in February 2025 to join Apollo Global Management. His background is in equity research, with a particular focus on European banks.

The appointment came bundled with a broader management shakeup. Tanuj Kapilashrami has taken on an expanded role as Group Chief Operating Officer.

Standard Chartered is one of the few globally systemically important banks that has actively built out digital asset capabilities, from custody solutions to token market infrastructure. A CFO sets capital allocation priorities, and Costello’s approach to capital-efficient growth will directly shape how aggressively Standard Chartered continues to invest in its digital asset operations.

The timing also matters because Standard Chartered reported a 17% year-on-year increase in Q1 profit, though that figure was partly offset by a $190M charge related to the Iran conflict.

For investors watching the intersection of traditional finance and digital assets, the key metric to track isn’t Costello’s background or his management style. It’s whether Standard Chartered’s capital expenditure on digital asset infrastructure increases, holds steady, or gets trimmed in the quarters ahead.