Standard Chartered's abrupt move to shut its global equities business earlier this month could be a prelude to the bank selling off stakes in a number of Asian banks as it looks to boost capital, people familiar with the lender's thinking said.
With a banking heritage spanning more than 150 years, Standard Chartered has developed extensive global reach and a strong position in emerging markets and new trade corridors.
The odds are stacking up against Peter Sands keeping his job.
Asia-focused bank Standard Chartered could need $4.4bn in of extra provisions to cover losses from commodities loans, potentially forcing it to raise billions of dollars from investors, analysts said on Monday.
Standard Chartered, the lender that generates most of its earnings in Asia, is close to selling private-equity investments valued at about $600m, said three people with knowledge of the talks.
Standard Chartered Chief Executive Officer Peter Sands unleashed the biggest round of job cuts in his eight-year tenure at the U.K. bank as he seeks to persuade critics he can stem a two-year drop in earnings.
Standard Chartered has hired two former prosecutors to police its transactions for criminal activity, a spokesman said last week, as the bank wrestles with a series of legal and compliance problems.
Standard Chartered has replaced UBS as one of its corporate advisors as it attempts to improve its relationship with major shareholders.
Plans are to be drawn up to give more confidence about the way banks measure their financial strength in the wake of the 2008 crisis.
Standard Chartered is being urged to plan for life beyond Peter Sands after a strategy update last month failed to restore confidence in the chief executive among some investors.
Standard Chartered Bank has announced the appointment of Heidi Toribio as managing director and head of the Financial Institutions practice for the Bank in the Americas.
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An analyst with the British South African bank Investec has described the regulatory strictures on Standard Chartered with the last words of Eric Garner, who choked to death during an attempted arrest by the New York City police.
The management of Standard Chartered is facing renewed pressure after being placed under fresh scrutiny by US regulators.
Standard Chartered has had its credit rating downgraded for the first time in 20 years, with the ratings agency Standard & Poor’s saying that the bank, which focuses on emerging markets, was going through a tough period.