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.
HONG KONG: 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.
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