Standard Chartered, the London-based, Asia-focused banking group, has restructured its capital markets and syndications operations in the greater Gulf area, giving new responsibilities and expanded titles to Steve Perry and Salman Ansari.
Standard Chartered is to pay a $340m (£216m, 276m penalty to the financial regulator of New York, in an embarrassing concession to accusations that it laundered money on behalf of Iran.
London headquartered bank Standard Chartered has been accused by New York State’s financial watchdog of hiding 60,000 transactions worth $250bn with the Iranian government, which it said left the “US financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes”.
Standard Chartered Private Bank has reported a strong rise in its revenue, one day after its parent company announced record profits for the first half of this year.
Standard Chartered, the London-based, Asia-focused banking group, said its first half pre-tax profit grew by 9%, as it detailed plans for its continued expansion in China and India.
Standard Chartered Private Bank has launched a suite of Islamic wealth management products aimed at high net worth clients across its offices in Dubai, Geneva, London and Jersey.
Nine in ten affluent Asians expect their financial services provider to offer education on investments and wealth management, according to a major study conducted by Standard Chartered Bank and Scorpio Partnership, a global strategy research company.
Police in China have detained a Shanghai-based private banker at Standard Chartered, in relation to a wealthy client who allegedly stole money from Agricultural Bank of China.
Standard Chartered has promoted its former head of private banking for the UK & Jersey to the position of global head, SME banking.
Standard Chartered has reported a double digit increase in annual profits, fuelled by the fast growing markets of Asia, the Middle East and Africa.
Christopher Shaw has joined Standard Chartered Private Banks London office, after just over six years with SG Hambros.
Standard Chartered Saadiq, the Islamic arm of Standard Chartered Bank, has launched Shariah-compliant services for individuals and small and medium-sized enterprises in the UAE.
