Russian money ‘not our business’, says StanChart CEO Bill Winters, as bank doubles down on wealth management
The bank aims to attract US$200 billion in new assets over the next five years, expand relationship-manager team by 50% by 2028
Add BT as a preferred source
STANDARD Chartered has vowed to double down on its wealth-management business. But chief executive Bill Winters is clear that one segment will not be contributing to this growth: wealthy Russians.
“A lot of Russian money has moved out of Switzerland and gone to Dubai, but that’s not our business,” Winters told The Business Times in an exclusive interview in late November.
BT understands that StanChart does not actively pursue Russian clients.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk
PayPal plans job cuts as its new CEO pursues turnaround strategy
