June 5, 2018 / 3:59 PM / 10 months ago

StanChart plans to bring Asian operations under two main hubs

FILE PHOTO: A woman walks down the stairs of the Standard Chartered headquarters in Hong Kong. REUTERS/Bobby Yip/File Photo

LONDON (Reuters) - Standard Chartered (STAN.L) is drawing up plans to consolidate its Asian operations into two hubs - one in Hong Kong and one in Singapore - in order to better manage its capital, a source familiar with the matter said on Tuesday.

“The group is strongly capitalized and is highly liquid, and as you would expect, we continually look at ways of optimizing the group’s capital and liquidity structures,” a spokesman for Standard Chartered said.

The Asia, Africa and Middle East focused lender already manages its operations in Asia out of Hong Kong and Singapore, so the changes would be mainly to its legal entities in the region.

No decisions have been finalised, the source said.

The news was first reported by Bloomberg.

Reporting by Lawrence White and Emma Rumney; Editing by Edmund Blair

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