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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

Jude Chan

Jude Chan

Published Wed, Dec 4, 2024 · 05:00 AM
    • "Singapore and Hong Kong are growing so fast because the Asean region and Mainland China are getting wealthy fast," says StanChart CEO Bill Winters.
    • "Singapore and Hong Kong are growing so fast because the Asean region and Mainland China are getting wealthy fast," says StanChart CEO Bill Winters. PHOTO: YEN MENG JIIN, BT

    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. 

    Wealth managementStandard CharteredBankingDubaiHong KongSingapore

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