New StanChart boss faces cash call, dividend squeeze

London

STANDARD Chartered's incoming chief executive Bill Winters is expected to raise capital and cut the bank's dividend later this year, potentially forced to act by a tough stress test of its Asian loans, investors and analysts said.

Few believe the ex-JPMorgan rainmaker will miss the chance to bolster the balance sheet during his honeymoon at the Asian-focused lender, especially as Britain's Prudential Regulation Authority (PRA) plans a fresh assessment on how shock-proof banks have become since the financial crisis.