Standard Chartered share price rises following appointment of Bill Winters as chief executive February 26, 2015 Having been in the rumour mill for a while now, Standard Chartered has finally confirmed that it's appointed a new chief executive. Bill Winters will replace Peter Sands later this year. The bank made the move following continued shareholder dissatisfaction at how it was being run – returns have not been at their best recently [...]
Barclays, HSBC, Standard Chartered, Lloyds and RBS credit ratings slashed as states promise no more bailouts February 3, 2015 Britain’s biggest banks saw their credit ratings chopped back last night by Standard and Poor’s, as the agency believes the government is serious in its promise to let bad banks fail. While ratings are normally cut when a firm performs poorly, in this case the move reflects the shift in risk from the taxpayer and [...]
Standard Chartered cuts more jobs as it axes global equities business January 8, 2015 Standard Chartered, the London headquartered bank which focuses on Asia, has announced more job cuts. The bank said it's closing the unprofitable equity sales and research business. This will lead to 200 job cuts worldwide and deliver around $100m in cost savings by 2016. Dismantling its stockbroking, equity research and equity listing desks worldwide will [...]
Who’s lining up in the CEO sack race? Ladbrokes’ odds on Standard Chartered’s Peter Sands January 4, 2015 There were a lot of interesting moves at the top in 2014, with chiefs taking P45s left right and centre – Harriet Green at Thomas Cook, Simon Calder at Mothercare and Tesco’s Philip Clarke to name but a few. But who will be saying sayonara in 2015? Well, sadly we don’t have a crystal ball [...]
Standard Chartered appoints new directors in financial crime crackdown following £425m fines December 10, 2014 Embattled bank Standard Chartered yesterday appointed a new committee of directors to combat financial crime. It also hired another nine experienced execs from across the business, finance and regulatory world to beef up its compliance functions. StanChart is still hosting investigators sent by US regulators in the wake of its $667m (£425m) fines in [...]
Who are Europe’s best paid bank CEOs? Four UK banks HSBC, Lloyds and RBS and Standard Chartered made the ranking November 11, 2014 Given the boardroom battles that have taken place over recent years, it's hardly surprising – but a new ranking of last year's 15 best-paid European bank bosses shows UK bankers are among the most highly-paid in Europe. British banks HSBC and Lloyds Banking Group took second and third places in the ranking, compiled by business [...]
Slower world economic growth hits Standard Chartered hard October 28, 2014 INVESTORS fled emerging markets-focused bank Standard Chartered yesterday after it reported a sharp fall in profits for the third quarter. The bank had racked up 10 consecutive years of record profits, coming through the financial crisis in strong form because of its focus in Asia and Africa, rather than the western world. But that has left [...]
Standard Chartered share price plummets after profits fall 16 per cent October 28, 2014 Standard Chartered's share price has plummeted this morning, as the bank warned on full year earnings after revealing falling profits for the third quarter. Shares in the lender had dropped 10 per cent in mid-morning trading, after it revealed pre-tax profits fell more than 16 per cent to $1.5bn (£930m) in the three months [...]
Standard Chartered fined $300m for poor money laundering controls August 19, 2014 US authorities fined British bank Standard Chartered another $300m (£180.5m) last night, for failing properly to check transactions for evidence of money laundering. The charge, from the New York Department of Financial Services (DFS), comes two years after the same regulators fined the bank $340m for breaking sanctions with Iran. The DFS put monitors into the bank, [...]
Standard Chartered banned from dealing with high-risk clients as part of $300m settlement August 19, 2014 For Standard Chartered (SC), $300m is not enough to sate the regulators. In addition to the settlement, the New York Department of Financial Services (DFS) has blocked the UK bank from dealings with certain high-risk clients, including some Hong Kong business customers and others in the United Arab Emirates. SC will also not be permitted [...]