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StanChart to cut 10% of corporate, institutional banking staff: sources

Published Mon, Nov 28, 2016 · 09:50 PM

Singapore

STANDARD Chartered is set to cut about a 10th of its global corporate and institutional banking headcount, sources with direct knowledge of the matter said on Monday, as the bank steps up an aggressive drive to cut costs.

Standard Chartered chief executive Bill Winters this month branded the bank's income and profit unacceptable, as below-forecast third-quarter results underlined the challenges facing his overhaul.

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Companies & Markets

StanChart to cut 10% of corporate, institutional banking staff: sources

Banking & Finance

UBS weighs synthetic risk transfer amid capital boost proposals

Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea

Japanese yen slides back towards 34-year low after brief spike

China’s Bank of Communications Q1 profit rises 1.44%

HSBC’s private bank shuts independent asset management business in HK, Singapore

Nomura Q4 net profit jumps almost eight-fold on retail income surge

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