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Ex-StanChart boss hired to lead fund in war on Aids

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Former Standard Chartered chief executive Peter Sands. FILE PHOTO | NMG

A former Standard Chartered chief executive, Peter Sands, has been appointed as the new Executive Director of the Global Fund that raises billions every year to fight against disease.

Mr Sands – a former British banker – served at Standard Chartered Bank #ticker:SCBK from November 2006 and June 2015 and will now be at the helm of the Fund mobilises and invests nearly $4 billion (Sh414 billion) every year to fight HIV/Aids, tuberculosis and malaria in countries with most need it including Kenya.

This comes as a surprise to many as Mr Sanders had earlier withdrawn from the race citing “personal reasons” only to re-enter the competition on Monday beating the three other candidates for the leadership role.

The three competitors included Simon Bland of Joint United Nations Programme on HIV and AIDS; Frannie Leautier, formerly of the African Development Bank; and Anil Soni of the global pharmaceutical company Mylan.

Member states and international organizations including the World Health Organisation (WHO) and African Leaders Malaria Alliance have sent their early congratulatory messages, with different global health leaders expressing interest in working with the new Global Fund leadership.

“Peter brings with him a wealth of experience from the private sector, including many years as chief executive of Standard Chartered Bank, where he worked across Africa,” said ALMA Executive Secretary Joy Phumaphi in a statement.

“His strategic leadership and experience will help push forward the Global Fund’s ambitious goals at this critical juncture in the fight against malaria.”