Standard Chartered considers Dubai desk for Japanese corporate clients


Standard Chartered Plc, the U.K. bank that’s cutting $400 million of costs, will consider starting a desk in Dubai for Japanese corporate clients that wish to expand business in the Middle East.

Bloomberg News reports that the bank may also increase staff in Singapore to service Japanese customers that want to boost operations in Southeast Asia, Yasunori Takeuchi, chief executive officer for Japan, said in an interview.

The move would help to bolster the London-based bank’s Japanese business, which employs just 170 workers out of Standard Chartered’s more than 86,000 staff members. The company closed its Japan wealth-management business in 2012 and is preparing to eliminate thousands of jobs worldwide as part of its cost-cutting drive.

'Japan is still small among our 70 global locations, but it’s strategically important because we connect Japanese companies with Asia, the Middle East and Africa,' Takeuchi, 53, said in his first interview since taking the post in January, replacing Christopher Knight. 'It’s a market where we can dig up clients.'

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Standard Chartered Weighs Starting Japan Desk in Dubai

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