Standard Chartered deputy chief executive Mike Rees is leaving after 26 years, the bank said Thursday, in a departure that marks the tarnished end of an era of expansion.

Rees, 59 years old, will leave the board in April and officially leave the bank at the end of the year. The last of an old guard of executives who oversaw Standard Chartered's decade-long run of profit growth in the 2000s, Rees was edged out when new chief executive Bill Winters started in June. He was stripped of his management duties last summer and his departure had been expected.