Finance
StanChart Plans to Shed 3,000 Clients in Push to Boost Returns
- Bank to drop clients that don’t use more of its services: CFO
- Moves to affect about one-quarter of bank’s corporate clients
This article is for subscribers only.
Standard Chartered Plc is planning to dump about 3,000 clients of its corporate and investment banking division as part of wide-ranging push to boost firmwide returns.
The exits will ultimately amount to about one-quarter of the London-headquartered lender’s current roster of corporate clients, Chief Financial Officer Diego De Giorgi said in a telephone interview. The moves will take place over the next two years.