StanChart sets US$200bil new wealth assets target, focuses on Chinese and Indian wealthy

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The Star 18h ago

StanChart sets US$200bil new wealth assets target, focuses on Chinese and Indian wealthy - The Star

Quick Summary:

LONDON/HONG KONG: Standard Chartered (StanChart) will target $200 billion in new assets and double-digit growth in income from its wealth business over the next five years, as part of its wider strategy to shift to higher fee-earning businesses.

"We're seeing a lot of our (China) onshore clients - the small and medium enterprises - looking to go outside of China".

StanChart aims to boost its team of relationship managers by 50% by 2028, according to plans unveiled on Tuesday, as well as upgrade branches and invest in technology to win new clients.