HONG KONG: Standard Chartered has seen the departure of at least four senior Asia-based bankers from its private banking unit in recent months, three people with direct knowledge of the matter said, amid growing earnings pressure at the business.
The Asia, Africa and Middle East-focused bank has also lost India private banking head Sandeep Das, who joined Barclays PLC last month as head of private clients India in private bank and overseas services, as per a Barclays announcement. StanChart's private banking business unit provides services to wealthy individuals across Asia, Africa, the Middle East and Europe, through onshore booking centers in Singapore, Hong Kong, Dubai, India, London and Jersey.
Two separate people told Reuters that StanChart was adding 15 private bankers in London in the March quarter, who would serve the bank's clients in the Middle East. Some of them have already started in their new roles, one of the people said.
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StanChart suffers senior private banker exits in Asia as unit earnings sag: sources[HONG KONG] Standard Chartered PLC has seen the departure of at least four senior Asia-based bankers from its private banking unit in recent months, three people with direct knowledge of the matter said, amid growing earnings pressure at the business. Read more at The Business Times.
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