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StanChart equities closure is overdue but welcome
For most investment banks, underwriting and broking equities is a poor business. Revenue rarely exceeds the costs of providing the service. Yet, most institutions insist that the business is essential. Standard Chartered just became a rare but welcome exception.
PHOTO: SPH
Hong Kong
FOR most investment banks, underwriting and broking equities is a poor business. Revenue rarely exceeds the costs of providing the service. Yet, most institutions insist that the business is essential. Standard Chartered just became a rare but welcome exception.
The...
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