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Davos 2014: Takeover? Time for me to go? All bunk – StanChart’s Sands

Thursday, Jan 23, 2014 - 03:43

Talk that Standard Chartered could face a takeover bid is nonsense, as is speculation that he’s about to change from CEO to chairman, says bank chief Peter Sands.

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Standard chartered the subject to review take -- talk this week but that's a year pizza sounds wasn't mincing his words out old. When I asked him whether there was any truth and it's. Expect him -- confess I didn't read the story. Does the -- small -- -- -- And let -- check prices leave him -- vulnerable right now is now the right time to be talking about this. Not the blankets and very good -- we have great opportunities in -- market we have a very clear strategy. We have a great team. What are what are shareholders Austin all the way of encouraging him to talk to all the other backs. We have a very good dialogue with our shareholders and a very supportive of strategy. A case of certain Brett are you talking about this issue with well I think is complete speculation -- talk it. Let's talk about the that the restructure announced earlier this month arm. Yes it may just change his strategy is needed no just tinkering. -- it's. It's actually very clear in the investment we make thereof strategy and we're doing -- is -- -- the organization to -- -- -- of the strategies that we can put. A clearer focus on -- need to to to customer segments and we can operate actually more effectively is one bank. Boston job cuts will be needed as structure that is really what the the reorganization is a Bart -- whereby it. Aligning the organization to be more effective in delivering a -- there will be some. -- cost synergies but that'll just be policy halt the ongoing drive to continually improve efficiency of the bank. I've talked to the -- about. China I mean clearly it's one of the scenes -- and and concerns of a slowdown. The PDF CE. Shadow banking issue I am. What are your concerns and nobody is as you'll see it getting great about the region. Actually I think a lot of concludes -- China all of a blind people -- Predicted that China's gonna go off track and have a problem. Food units life and China has defied predictions I think China will deliver somewhere around 7% growth in 2000 faulty. The law of course problems in areas like China making you would expect issues when you've had a country grew that follows the such. Prolonged period of time. With a no problems that again it. -- China invited any major regulatory headaches and rising this year -- to the most of the heavy lifting has been done on the front. Well I wish I could say the heavy lifting has been to LA I think with -- situation whether it's a huge motive. Change going on unless of course brings the risk of unintended consequences. I think the big headache actually is the is the fragmentation of the regular treated gender and make the cut the different parts of the world law. Putting the emphasis on different things than that has the risk of actually fragmenting global financial markets. Which in Thailand. Brings dangers to global trade and investment that's number wondrous things that fragmentation issues the bigger issue that it makes it a shot. With you and your plants I'm sure you don't -- two losses but so has there been any discussion with shareholders. About you moving up to this -- -- I've been virtually. That I have no lose interest in becoming chairman and I've never expressed that he does not need to -- I'm very happy in the job -- -- And -- very good relationship chilled much of how long you gonna stay in the job. Plans to do -- You have no president feels similarly we can expect to see him as you see incident has grown exit. Well I am. As I know president or else I'll be very happy to -- -- -- --

Davos 2014: Takeover? Time for me to go? All bunk – StanChart’s Sands

Thursday, Jan 23, 2014 - 03:43

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