World News: 09:27 GMT Wednesday 14th August 2019. [Yahoo Business News Feed via SPi World News]
Standard Chartered is targeting growing its private banking assets by 50% to about $100 billion in three to five years and will hire dozens of bankers in Hong Kong and Singapore towards that goal, a senior executive of the lender said. The moves show StanChart has big growth ambitions for the private banking unit that had until recently weighed on the lender's earnings, with its small size stoking speculation it would be put under review for possible divestment. The lender will recruit 30-40 private bankers every year in the next two to three years to add to its roughly 300 existing relationship managers, and the bulk of the additions will be in Hong Kong and Singapore, StanChart's global head for private banking and wealth management Didier von Daeniken told Reuters.
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.