The Traderszone Network

Published in TZ Latest News 8 February, 2015 by The TZ Newswire Staff

StanChart targets wealthier customers in retail bank revamp

Standard Chartered Plc will shift its retail bank’s focus from mass market to affluent customers and urge more clients to go online as part of a broader restructuring, a senior executive told Reuters. StanChart’s retail business is one of the first divisions the Asia-focused lender has targeted with cuts, announcing last month it would ax 4,000 retail jobs or 5 percent of its global workforce and close 80-100 branches.

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