February 01, 2015 6:06 PM ET

Banks

Company Overview of Standard Chartered Bank Korea Limited

Company Overview

Standard Chartered Bank Korea Limited provides various financial services primarily in South Korea. The company offers deposit products, including demand and savings deposits, regular savings, time deposits, equity-linked deposits, and foreign currency deposits; loans and mortgages; funds and trusts services; insurance products; working capital management, business expansion, business protection, and yield enhancement solutions; and priority and private banking services. It also provides online, mobile, and other banking services; and cards. The company was formerly known as Standard Chartered First Bank Korea Limited and changed its name to Standard Chartered Bank Korea Limited in January 2...

100 Kongpyung-dong

Chongro-gu

Seoul,  110-702

South Korea

Founded in 1929

Phone:

82 2 3702 3114

Fax:

82 2 3702 4965

Key Executives for Standard Chartered Bank Korea Limited

Chief Executive Officer and President
Group Chief Executive
Age: 52
Chief Information Officer and Executive Vice President
Chief of Corporate Network and Executive Vice President
Chief Consumer Risk Officer and Executive Vice President
Compensation as of Fiscal Year 2014.

Standard Chartered Bank Korea Limited Key Developments

Standard Chartered Bank Korea Ltd. and Standard Chartered Korea Ltd. Announce Executive Changes

Standard Chartered Bank Korea Ltd. announced that it appointed Park Jong-bok, head of retail clients and executive vice president, as CEO and president. Park will assume the role Jan. 8, 2015, and will also have the title of chairman and CEO of the bank's holding firm, Standard Chartered Korea Ltd. Park, who has worked in the banking since 1979. Former CEO Ajay Kanwal stepped down from his roles in October in a bid to head the U.K. banking group's northeast Asian regional headquarters.

Standard Chartered Bank Korea Announces Executive Changes

Ajay Chamanlal Kanwal, CEO and president of Standard Chartered Bank (Taiwan), will replace the Standard Chartered Bank Korea's current CEO and president, Richard Hill. The company recently applied for eligibility screening for Ajay Chamanlal Kanwal to appoint him CEO of the company. Richard Hill, CEO and president of Standard Chartered Bank Korea, will move to Standard Chartered's Indonesian subsidiary.

Standard Chartered Bank Korea Ltd Decides to Shut Down Retirement Pension Business

Standard Chartered Bank Korea Ltd. decided to shut down its retirement pension business due to its growing loss. The bank stopped selling retirement pension products and is now in the process of transferring the existing policies to other companies. The bank's board of directors came to a conclusion in July 2013 to close the business. The bank plans to return the business license to financial regulators soon. As the South Korean unit is operating within struggling market conditions, Standard Chartered plans to write off more than $1 billion in South Korean operations and sell its two subsidiaries in the country.

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