Gareth Bullock, a board member at the Asia-focused bank Standard Chartered, has taken advantage of a rally in the company's share price to pocket more than £222,000 with a share sale.
He offloaded just less than 19,000 shares at 1,175p a time, soon after the bank posted record profits for the first quarter, sending shares in the company sharply higher.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In March, he sold about 19,490 shares at 859.9p a time and some 7,405 shares at 698.5p a time.
Since then the share price has been boosted by an upturn in market sentiment, particularly in the banking sector, as well as yesterday's first quarter results.
Bullock, who started his career with US bank Citibank, joined Standard Chartered in 1996, became a director in 2003 and was appointed to the board in 2007.
More than 90% of Standard's profits come from Asia, Africa and the Middle East. The firm opened its first branches in Mumbai (Bombay), Calcutta and Shanghai in 1858.
Top Director Buys
Value: £48,320
Value: £15,573
Top Director Sells
Value: £230,916
Value: £222,533
Value: £148,000
Value: £50,010
Value: £24,381
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
