Standard Chartered Zimbabwe CEO’s Absence Draws Union Query

HARARE (Bloomberg) — A Zimbabwean bank workers union said it will ask what the status of the head of the local unit of Standard Chartered Plc is after a news organization reported that he had been suspended.

Ralph Watungwa, the chief executive officer of the unit, hasn’t been seen at work, according to the union. The bank declined to comment, saying staff matters are confidential.

“Our members are advising us that he has not been at work of late, but no one has the actual reasons,” Peter Mutasa, general secretary of the Zimbabwe Banks and Allied Workers Union, said by text message. “We will be seeking the bank’s position officially soon.” reported that Watungwa has been suspended, citing a person it didn’t identify.

Watungwa didn’t respond to three calls to his mobile phone and a text message sent seeking comment.

The London-based lender competes local and South African banks that operate in the southern African nation.