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StanChart culls global equities business with 200 job cuts

Standard Chartered has taken a knife to its global equities division as it seeks to cull some of its loss-making businesses. The move is expected to affect around 200 jobs, the majority of which are in Asia.

  • By Rashmi Kumar
  • 08 Jan 2015

The firm is closing its institutional cash equities, equity research and ECM operations, which will result in cost savings of around $100m in 2016. For this year, however, the savings will broadly offset the costs the bank will incur in the restructuring, it said.

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Excludes PPs. Click for full table
1 Bank of China (BOC) 24.90
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