StanChart to Build Hong Kong as Metals Center as East Moves
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Standard Chartered Plc, which derived more than 60 percent of 2012 revenue from the Asia-Pacific region, moved its global head of metals trading to Hong Kong from London and plans to build up its presence there.
Jeremy East, who’s traded in the U.K. capital for about three decades, transferred this month, and he will expand the metals desk in Hong Kong to be half the size of the London team in two years from about a quarter at present, according to an interview. East declined to give numbers. The London-based bank may expand into gold storage in Hong Kong and its unit started physical-metals trade in Shanghai, he said yesterday.