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.
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