Standard Chartered director sells after rally

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.

The transaction leaves Bullock, responsible for growth and governance in Africa, Middle East, Europe and the Americas and for Risk and Special Assets Management, with 200,000 shares.

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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.

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