According to reports last week, Peter Baird, head of Standard Chartered Private Equity in Africa and Yemi Osindero, head of the company’s West Africa Private Equity business are both set to leave the bank as it trims its private equity team on the continent. The group will now have eight Africa specialists working on its private equity business. Joe Stevens, CEO of Standard Chartered’s Global Private Equity business said the reshuffle was part of the business’s broader strategy and that its fund continues to perform well.
Baird who has worked for leading global private equity, management consulting and investment banking organizations for 20 years did not reveal his future plans. A source tells Reuters that Osindero is going to launch an independent African fund in partnership with colleague Nana Dankwa.
Ronald Tamale takes over as the CEO of the bank’s African Private Equity business, whose current portfolio includes Afrifresh, Choppies, Copperbelt Energy Corporation, Eaton Towers, Export Trading Group, GZ Industries, Lodestone and Seven Energy.