About 11 StanChart's Hong Kong-based private bankers to leave

[HONG KONG] About 11 Hong Kong-based bankers from Standard Chartered Plc's private banking unit, including one managing director, are leaving the bank, a spokeswoman for the lender said on Tuesday.

Teresa Lee, managing director of Standard Chartered private banking in Hong Kong, and about 10 relationship managers on her team were leaving, the spokeswoman said, after Asian Private Banker first reported the development.

The spokeswoman for Standard Chartered did not elaborate on the matter. But a source with knowledge of the move said that those who were leaving the bank were part of the bank's Greater China private banking team.

Ms Lee could not immediately be reached for a comment.

REUTERS