Standard Chartered Plc named Mike Rees deputy to Chief Executive Officer Peter Sands as the U.K. bank struggling with writedowns in South Korea combines its corporate and consumer-banking units to cut costs.
Standard Chartered Plc Chief Executive Officer Peter Sands said using a leverage ratio as the primary way of assessing banks’ solvency is flawed and will create a financial system more vulnerable to crisis.
Standard Chartered Plc, which generates more than three quarters of operating profit in Asia, will tap rising demand for wealth management products in Southeast Asia to bolster growth, Chief Executive Officer Peter Sands said.
Standard Chartered Plc, the U.K. lender that makes about three-quarters of its earnings in Asia, plans to sell its Geneva-based private bank as Chief Executive Officer Peter Sands reviews businesses to improve profitability.
As a young man during China’s Cultural Revolution, Jiang Jianqing was sent to the countryside to work as a farmer and a coal miner. This week, he arrives at the top of a Swiss mountain as chairman of the world’s most- profitable bank and representative of the most-populous nation.