Former CBA chief operating officer David Whiteing, who left the bank in a management reshuffle earlier this year, has been named by Standard Chartered as its next COO, reports the FT. StanChart said Whiteing would take on an expanded COO role that will cover much of the Asia-focused bank's regional operations staff. He will be based in Singapore and report directly to CEO Bill Winters. New Zealand's Financial Markets Authority has warned it is losing patience with banks and insurers and their slide into "tacky" culture and practices. In a speech yesterday, FMA chief Rob Everett said banks and other financial services were being too slow to respond to the fall in consumer trust, reports Newsroom. "What seems to happen in financial services is an insidious slide into 'it feels a bit tacky, but everyone else is doing it and we can't afford to be left behind'," Everett said. He said boards had to revise their view of how much they need to pay senior management and how much shareholders can expect in returns. Senior management needed to focus on customer satisfaction, complaints handling and staff training. "We are frustrated in places with the slow pace of change," he said. "That frustration will manifest itself over time as we become less understanding and less tolerant of firms that talk a good game but don't put the hard yards in to make sure it happens."