Standard Chartered chief predicts challenges ahead

Standard Chartered Shanghai Towers at night

Standard Chartered CEO Bill Winters expects erratic swings in global markets to continue for at least the rest of this year, complicating his efforts to reinvigorate earnings and restore the lender’s dividend.

Bloomberg News reports that reviving “depressed” revenue in the face of a sluggish economy and a slump in commodities prices is “the big challenge,” Winters said in a Bloomberg Television interview with Francine Lacqua eight months into his tenure. The bank could resume dividends this year, if it keeps showing improvement. But first, he’s waiting to see how the firm performs as emerging markets in which it operates face headwinds, potentially rattling investors anew.

“I am expecting very high volatility for the rest of this year and probably into next year,” said Winters, 54. “It’s too early to call the risk-off theme. We could have episodes of real risk aversion.”

Standard Chartered jumped 9.8% Tuesday after saying loan impairments declined and capital levels improved during the first quarter. Winters, hired in June with a mandate to turn around the struggling lender, has picked a new management team, bolstered risk controls, sold 19 businesses and identified $100bn of risky assets he wants to restructure or exit.

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Standard Chartered CEO Predicts Looming Revenue Challenge

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