Peter Sands (banker)

Peter Sands was born in the UK on 8 January 1962 to British parents who had themselves been born in Asia. His father, was born in Malaya, a British colony until 1957, where his grandfather ran rubber plantations for the London Asiatic Rubber and Produce Co and his mother was born in India, another former British colonial outpost.{{cite news|url=https://www.theguardian.com/business/2010/mar/04/peter-sands-standard-chartered-boss |title= Standard Chartered boss says banks should be allowed to fail – it improves discipline | work=The Guardian| accessdate=12 January 2012|location=London|first=Jill|last=Treanor|date=4 March 2010}}

Sands was taken to Malaysia as a baby and spent much of his life outside Britain, mostly in Malaysia and Singapore. He was educated at Crown Woods Comprehensive School in London, and the United World College of the Pacific in British Columbia, Canada, before he went to Oxford.

Sands graduated with a BA degree from Brasenose College at Oxford in 1984. He started as a trainee at UK's Foreign and Commonwealth Office,{{cite web |author=Andrew Davidson |work=The Sunday Times |title=Peter Sands: The banker who's still smiling | url= http://korcgb.blogspot.co.uk/2008/09/peter-sands-banker-whos-still-smiling.html |date=30 September 2008 |access-date=2012-07-15}} which he left to take a Harkness Fellowship at Harvard University to earn a master's degree in public administration from Kennedy School of Government.

In 1988, Sands started his career as a consultant for the management consulting firm, McKinsey in its London office. He held positions of increasing responsibilities in the firm, and in 1996 he became a partner, and later in 2000 rose to position of a director.

In 2002, Standard Chartered PLC,{{Cite web|url=http://www.cbetta.com/director/peter-alexander-sands|title=Peter Alexander Sands director information. Free company director check.|website=cbetta.com|language=en|access-date=2019-09-11}} a client of McKinsey, hired Sands as its Group Finance Director. Four years later in 2006, he was chosen as its Group Chief Executive Officer.

Between 2002 and 2008, the headcount of Standard Chartered nearly doubled to 70,000. The British bank rescue plan, which was copied around the world, was based on a blueprint devised by Sands.{{cite web |author=Katherine Griffiths |title=Standard Chartered chief Peter Sands was quiet architect of Britain's bank rescue | url=https://www.telegraph.co.uk/finance/financetopics/financialcrisis/3205088/Standard-Chartered-chief-Peter-Sands-was-quiet-architect-of-Britains-bank-rescue.html | archive-url=https://web.archive.org/web/20081018183338/http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3205088/Standard-Chartered-chief-Peter-Sands-was-quiet-architect-of-Britains-bank-rescue.html | url-status=dead | archive-date=2008-10-18 |date=2008-10-15 |work=The Telegraph |access-date=2010-07-10}} Standard Chartered itself did not take "any taxpayer money or used any central bank liquidity schemes".{{cite web |author1=Jill Treanor |author2=Julia Kollewe |title=Standard Chartered chief donates £2.1m bonus to charity | url=https://www.theguardian.com/business/2010/mar/03/standard-chartered-chief-bonus-charity |date=2010-03-03 |work=The Guardian |access-date=2010-07-10}}

Also during his time at the bank, Sands was harshly criticized after Standard Chartered paid New York State $340 million in 2012 to settle claims it laundered money for Iran.Donald G. McNeil Jr. (14 November 2017), [https://www.nytimes.com/2017/11/14/health/peter-sands-global-fund.html Peter Sands Named Head of Global Disease-Fighting Agency] New York Times.Jessica Silver-Greenberg (14 August 2012), [https://www.nytimes.com/2012/08/15/business/standard-chartered-settles-with-new-york-for-340-million.html British Bank in $340 Million Settlement for Laundering] New York Times.

In February 2015, amidst growing shareholder calls for his resignation,{{cite web |author1=Martin Arnold |author2=John Aglionby |author3=Emma Dunkley | title=StanChart appoints Bill Winters as chief executive | url=http://www.ft.com/intl/cms/s/0/f6662058-bd90-11e4-9d09-00144feab7de.html#axzz3Sqp00J00 | date=2015-02-26 | work=Financial Times|access-date=2015-02-26}} Sands announced that he would be stepping down as CEO, effective June 2015. At the time of the announcement, the Wall Street Journal noted that Sands, having served at the helm of Standard Chartered for nine years, was among the "longest-serving chiefs of a major Western bank."{{cite web |author=Margot Patrick |title=Standard Chartered CEO Peter Sands Resigns After Unrest at Bank | url=https://www.wsj.com/articles/standard-chartered-ceo-peter-sands-to-step-down-1424940132? |date=2015-02-26 |work=The Wall Street Journal |access-date=2015-02-26}} On 26 February 2015, it was announced that his successor would be Bill Winters, former co-CEO of JP Morgan's investment banking business.{{cite news|last1=Kollewe|first1=Julia|title=Bill Winters: banker not afraid to bare his chest takes reins at Standard Chartered|url=https://www.theguardian.com/business/2015/feb/26/bill-winters-bare-chest-takes-standard-chartered-banker|accessdate=26 February 2015|work=The Guardian|date=26 February 2015}}

After leaving Standard Chartered, Sands was a senior fellow at the Mossavar-Rahmani Center for Business and Government of the Harvard John F. Kennedy School of Government and became the lead non-executive board member of the Department of Health in the United Kingdom.{{citation needed|date=November 2017}} In 2016, he also chaired the International Commission on a Global Health Risk Framework for the Future under the auspices of the National Academy of Medicine.Kate Kelland (13 January 2016), [https://www.reuters.com/article/us-health-pandemics/preparing-for-pandemics-could-cost-less-than-1-each-a-year-review-says-idUSKCN0UR20C20160113 Preparing for pandemics could cost less than $1 each a year, review says] Reuters.

In 2017, Sands was one of the candidates to succeed Mark Dybul as executive director of the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund). He withdrew his candidacy for personal reasons just three days before the selection committee meeting;Jenny Lei Ravelo (11 November 2017), [https://www.devex.com/news/exclusive-peter-sands-withdraws-global-fund-candidacy-91518 Exclusive: Peter Sands withdraws Global Fund candidacy] Devex. shortly after, he asked the committee to reinstate his candidacy.Jenny Lei Ravelo (13 November 2017), [https://www.devex.com/news/exclusive-peter-sands-reverses-decision-on-global-fund-race-withdrawal-91532 Exclusive: Peter Sands reverses decision on Global Fund race withdrawal] Devex.

In November 2017, Sands was appointed to lead the Global Fund and started in the role in early 2018.{{cite news|url=https://www.nytimes.com/2017/11/14/health/peter-sands-global-fund.html|title=Peter Sands Named Head of Global Disease-Fighting Agency|first=Donald G. Jr.|last=McNeil|newspaper=The New York Times |date=14 November 2017|accessdate=15 November 2017}}

In his role at the GFATM, Sands was also appointed to the Pandemic Preparedness Partnership (PPP), an expert group chaired by Patrick Vallance to advise the G7 presidency held by the government of Prime Minister Boris Johnson in 2021.[https://www.gov.uk/government/news/new-global-partnership-launched-to-fight-future-pandemics New global partnership launched to fight future pandemics] Government of the United Kingdom, press release of 20 April 2021.

Sands has served on various boards and commissions, including as:

• International Gender Champions (IGC), Member[https://genderchampions.com/champions Members] International Gender Champions (IGC).
• National Institute of Economic and Social Research, Governor
• Institute of International Finance (IIF), member of the board of directors and chairman of the Special Committee on Effective Regulation{{cite web|url=http://www.iif.com/about/bod/|title=Board of Director – Institute of International Finance|access-date=2010-07-10|author=IIF|archive-url=https://web.archive.org/web/20171107060555/https://www.iif.com/about/bod/|archive-date=7 November 2017|url-status=dead}}
• International Monetary Conference (IMC), Chairman
• Monetary Authority of Singapore (MAS), Member of the International Advisory Board
• UK-India CEO Forum, Chair (since 2010)

The British government appointed Sands in 2009 to the Independent Review of Higher Education Funding and Student Finance{{cite web |author=Independent Review of Higher Education Funding and Student Finance |title=Members' biographies |url=http://hereview.independent.gov.uk/hereview/members-biographies/ |access-date=2010-07-10 |url-status=dead |archiveurl=https://web.archive.org/web/20091112121748/http://hereview.independent.gov.uk/hereview/members-biographies/ |archivedate=12 November 2009 }} and he served as a board member of the Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria (GBC){{cite web |author=Global Business Coalition on HIV/AIDS, Tuberculosis, and Malaria |title=Leadership | url=http://www.gbcimpact.org/about-gbc/leadership-staff/ |access-date=2010-07-10}}

Sands was a member of the British Good Work Commission, which is tasked to examine the major challenges of work in the 21st century and redefine the notion of good work – work that is rewarding for business, society and individuals.{{cite web |author=The Work Foundation |title=The Good Work Commission |url=http://www.theworkfoundation.com/pressmedia/news/newsarticle.aspx?oItemId=249 |archive-url=https://web.archive.org/web/20101216001001/http://www.theworkfoundation.com/pressmedia/news/newsarticle.aspx?oItemId=249 |url-status=dead |archive-date=2010-12-16 |access-date=2010-07-10 }}{{cite web |author=Brian Groom |title=Employees feel strain of rise in work intensity |work=Financial Times|location=London | url=http://www.ft.com/cms/s/0/9805b172-820d-11df-938f-00144feabdc0.html/ |date=2010-06-28 |access-date=2010-07-10}}

Sands is married to the writer Betsy Tobin, and they have four children. They live in Highbury in north London, and have a second home in Monmouthshire.{{cite web|url=https://www.standard.co.uk/lifestyle/why-my-top-banker-husband-gave-his-2m-bonus-to-charity-6559982.html|title=Why my top banker husband gave his £2m bonus to charity|date=10 April 2012|website=Evening Standard|location=London|accessdate=15 November 2017}}

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Category:Living people

Category:1962 births

Category:People educated at a United World College

Category:Alumni of Brasenose College, Oxford

Category:Harvard Kennedy School alumni

Category:Harkness Fellows

Category:British bankers

Category:British chief executives

Category:Standard Chartered people

Category:McKinsey & Company people