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Standard Chartered PLC announces reorganization of business


Thursday, 9 Jan 2014 03:43am EST 

Standard Chartered PLC:Says the reorganization of its Wholesale Banking and Consumer Banking businesses.Says the Group's two businesses, Wholesale Banking and Consumer Banking, will be integrated to form one business, organized into three customer segment groups and serviced by five global product groups.Says purpose of the reorganization is to support these aspirations and will enable the Group to Focus the deployment of resources more effectively across the whole organization to capture the biggest growth opportunities in markets and maximize returns.Says Serve clients and customers better by grouping them more logically by their needs, while offering a broader and more consistent range of products to all segments, creating further income growth opportunities.Says achieve cost savings by removing the duplication that exists both in the two businesses' product teams and in the functions that support them, including Risk, Finance, Legal and Compliance, Human Resources, and Technology and Operations, and by creating consistent infrastructure and processes.Says Strengthen its distinctive culture, enhancing collaboration across the Group, providing a stronger, more consistent brand experience and reinforcing the Group's framework and processes to ensure the highest standards of conduct across all aspects of business.Says the three new customer segment groups are Corporate and Institutional Clients, Commercial and Private Banking Clients, and Retail Customers. 

Company Quote

1240.0
13.0 +1.06%
19 Sep 2014