There was tough competition for the role of Blue Chip Finance Director of the
Year, but after much deliberation and against a group of the UK’s most highly
respected financial managers it was Richard Meddings, FD at Standard Chartered
Bank, who emerged as the first choice of our judges.
Part of the so called “crisis cabinet”, which formulated the first bank
bailout package in partnership with the government, the judges’ comments summed
up his performance like this: “Not only has he played a great part in leading
the bank from the front, but he has put his personal reputation on the line in
advising government on how to handle the crisis. This really has been his year.”
Self-effacing and gently ribbed by his wife, who calls him Mother Teresa for
his role in the bailouts, Meddings was also part of a management team in one of
the few banks that steered clear of trouble in the crisis, did not require a
bailout and posted a rise in pre-tax profits of 13% to £3.2bn earlier this year.
The combination of both counsel, among others, to government and the bank’s
business performance, prompted one judge to say: “This has been an exceptional
year for Richard.”
Meddings became group finance director at Standard Chartered in 2006 having
joined the board in 2002 as group executive director for growth and governance
across Africa, the Middle East, Pakistan, Europe and the Americas. Prior to
Standard, Meddings was finance director at Woolwich, which was later acquired by
He stayed on with the merged company working through the ranks from financial
controller to chief operating officer for Barclays Private Clients.
He also serves as chairman of Seeing is Believing, the community investment
project set up by Standard Chartered which restores sight to individuals around
the world and has raised $10m (£7m) for investment in 17 countries across 32
projects. Seeing is Believing is now working to raise $20m for eye care in
partnership with the World Health Organisation.
SOUL AND CONSCIENCE
Does CFO of Standard Chartered Richard Meddings think it has been a tough
year for the bankers? In a word, yes.“It has become very pressured… it’s a hard
factual, numbers-based role, which requires a strong work ethic,”says Meddings.
“I think the role of a CFO is obviously soul and conscience and worrier. There’s
a high anxiety content and one of the challenges of the job is always how to do
that and not over-display it because it’s a role where you have to exude
confidence and decisiveness.”