Standard Chartered has announced plans to significantly expand its team of relationship managers in Hong Kong, Singapore, and the United Arab Emirates (UAE) as part of a five-year strategy to oversee an additional $200 billion in client funds.
According to Judy Hsu, CEO of Wealth and Retail Banking, the initiative includes a 50% increase in staffing by 2028, with a focus on private, priority-private, and international clients. Clients with a net worth exceeding $10 million will be a key target. The bank also plans to enhance international banking capabilities through its London advisory centre.
This move aligns with the UK-based lender’s October announcement to double its investment in wealth management to $1.5 billion, focusing on affluent and international clients while scaling back retail banking in markets like Botswana, Uganda, and Zambia.
Read the original article here: https://www.scmp.com/business/money/wealth/article/3289322/stanchart-hire-more-wealth-managers-hong-kong-singapore-under-us15-billion-plan