Standard Chartered to close Swiss private bank: media

ZURICH Mon May 26, 2014 4:06am EDT

A man walking past a foot bridge leading to the Standard Chartered main branch is reflected on a window glass in Hong Kong March 5, 2013. REUTERS/Bobby Yip

A man walking past a foot bridge leading to the Standard Chartered main branch is reflected on a window glass in Hong Kong March 5, 2013.

Credit: Reuters/Bobby Yip

ZURICH (Reuters) - Standard Chartered (STAN.L) is set to close its Swiss private bank in Geneva, broadcaster Radio Television Suisse (RTS) reported on Monday.

The Asia-focused bank said in February it was looking to sell the Swiss private bank as part of a plan to shed several businesses as it sharpens its focus on Asia, Africa and the Middle East.

RTS said on its website on Monday that Standard Chartered would close the private bank. It did not cite its sources. RTS said the roughly 40 employees affected would be given the option of moving to another part of the bank.

A spokesperson for the bank was not immediately available for comment.

(Reporting by Joshua Franklin; editing by Jason Neely)