Standard Chartered is a British multinational bank. Based in London, it is named for the two banks from which it was formed – The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa. Created by a merger of these two banks in 1969, Standard Chartered operates in more than 70 countries and employs well over 80,000 people around the world.
Standard Chartered is what is known as a ‘universal’ bank and operates across all the major subsets of banking – consumer, corporate, institutional and treasury. It is listed on the London Stock Exchange, the Hong Kong Stock Exchange and the National Stock Exchange of India.
Standard Chartered does not have any retail banking operations in the UK, despite being based in London.
Standard Chartered Products and Services
In the UK, Standard Chartered’s corporate banking division is focused on supporting British companies trading abroad, helping them trade in foreign markets and access financial networks in the Middle East, Asia and Africa. Being based in a global financial centre such as London allows the bank to act as a hub for companies in these markets.
Corporate banking services include:
Sales and structuring
Structured trade finance
While Standard Chartered does not have a UK retail banking division, it has offered private banking services to UK clients since 2007. The private bank works with high net worth clients living in the UK with links to markets in Africa, Asia and the Middle East. Private banking customers are assigned a personal relationship manager and investment advisor; they can choose from products including everyday banking, lending, investments and foreign exchange.
Standard Chartered Security
Standard Chartered is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.