Standard Chartered switches UBS for Bank of America

Standard Chartered Shanghai Towers

Standard Chartered has replaced UBS as one of its corporate advisors as it attempts to improve its relationship with major shareholders.

Reuters reports that the Asia-focused bank said on Tuesday it had replaced UBS as one of its corporate brokers with Bank of America Merrill Lynch. JPMorgan Cazenove will remain as the other broker.

The news agency reported on December 2 that Standard Chartered was considering replacing UBS, which has been a long-standing advisor to the bank. One of UBS's most senior bankers, Tim Waddell, left the bank to join Bank of America in September, and was close to Standard Chartered.

To access the complete Reuters article hit the link below:

StanChart replaces long-time advisor UBS with Bank of America

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