Reuters - Top firm aims to boost revenue at investment bank

Returning to growth.

Reuters reports that Standard Chartered is aiming to boost revenue growth at its investment bank by a compound annual rate of 5 to 7% in the medium term, the head of that business said on Tuesday, while trying to keep risk down and avoid past mistakes.

The Asia, Africa and Middle East-focused bank will boost income after two years of restructuring, Simon Cooper, chief executive of corporate and institutional banking at StanChart told investors at a conference. He said this would come from cross-selling to more clients in those markets, as well as by taking advantage of intra-regional trade initiatives.

Investors are hoping StanChart can return to revenue growth again after a two-year restructuring under chief executive and former JPMorgan banker Bill Winters who has cut more than 15,000 jobs and axed business lines such as Asian equities.

Hit the link below to access the complete Reuters article:

StanChart targets 5-7 percent growth in investment bank

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