HONG KONG/SINGAPORE: Standard Chartered plc is seeking buyers for its Hong Kong pension business valued at about $350 million in a deal that would also involve a 15-year distribution agreement with the new owner, people with knowledge of the matter told Reuters.
Any deal would mark Standard Chartered's second sale of a Hong Kong business in less than six months and comes as newly appointed Chief Executive Bill Winters is expected to overhaul the Asia-focused lender which has faced a prolonged slump in profits and regulatory fines.
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