New Standard Chartered boss expected to raise capital and cut dividends

Standard Chartered Shanghai Towers

Standard Chartered's incoming CEO Bill Winters is expected to raise capital and cut the bank's dividend later this year, potentially forced to act by a tough stress test of its Asian loans, investors and analysts said.

Reuters reports that few believe the ex-JPMorgan rainmaker will miss the chance to bolster the balance sheet during his honeymoon at the Asian-focused lender, especially as Britain's Prudential Regulation Authority plans a fresh assessment on how shock-proof banks have become since the financial crisis.

The bank has already outlined ambitions to raise a key measure of its capital strength by the end of this year and Winters is expected to sound out investors on further capital raising plans after he takes the reins on June 10.

To access the complete Reuters article hit the link below:

New StanChart boss faces cash call, dividend squeeze

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