StanChart says its US$100b AUM target is still on track

Singapore

STANDARD Chartered said it is on track to grow its private banking assets to US$100 billion in the next two to four years, even as the virus fallout continues to roil global markets, a senior executive from the bank told The Business Times.

This comes as the bank has been "reshaping and reorienting" its Asia-focused private banking business over the last four years, which includes hiring some 40 bankers every year since 2016 and automating its platforms and processes, said Didier von Daeniken, StanChart global head of private banking and wealth management.