Standard Chartered Plc, the U.K. bank that gets about three-quarters of earnings from Asia, is seeking buyers for PrimeCredit Ltd., a Hong Kong consumer finance business, a person with knowledge of the matter 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.
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.
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.
Jamie Dimon was right. Speaking at a televised session during the World Economic Forum in Davos last year, the JPMorgan Chase & Co. chief executive officer predicted that the condemnation of bankers was far from over.
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.