Standard Chartered to Raise Minimum Level of Wealth
Standard Chartered plans to more than double the minimum level of wealth required for private banking clients globally.
“The bank will increase the level of investable client assets from $2m to $5m.”
The bank will increase the level of investable client assets from $2m to $5m and will focus on attracting individuals and families with at least $30m in investable assets. This may lead to departures of bankers and clients who do not meet the criteria.
News Source: Financial Times
About Standard Chartered
Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.
- Origin : London, UK
- Assets : $ 640.48 billion
- Revenue : $ 15.29 billion
- Employees : 84,000
Official Website: www.sc.com
News & Media: Press Release
Updated on 8th August 2016