Standard Chartered considers splitting corporate, investment bank
Standard Chartered is considering splitting up its corporate, commercial and institutional banking segment, Bloomberg reports, citing unnamed sources.
A restructuring of the unit could lead to separating the operations of its investment bank from those of its corporate and commercial bank, according to Bloomberg.
The move from the London-based lender — which makes most of its money in Asia and the MENA region — could lead to job cuts, but no final decision has yet been made, Bloomberg reports.
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The bank made almost two thirds of its income from the unit in the third quarter of 2023.
Standard Chartered declined to comment when contacted by Dow Jones Newswires.
Write to Elena Vardon at elena.vardon@wsj.com
This article was originally published by Dow Jones Newswires, a fellow Dow Jones Group service
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