David Wighton

The City of London doesn’t have an especially severe cultural problem, says Lord Mayor Alan Yarrow, maintaining that any such notion has been planted by rival cities that want to win back business from the U.K.’s financial center.

Bill Winters’ appointment to replace Peter Sands as Standard Chartered’s CEO has been widely praised, even though Mr. Winters has little experience in Asia, where most of the bank’s business lies, and has never run a bank.