Standard Chartered Plans to Add 100 New Employees to Workforce for Chinese Investment Banking Unit
Standard Chartered is in the process of hiring at least 100 staff in China to launch an investment banking unit targeting niche bond deals.
The unit, which was awarded a license in January, is expected to be operational by the end of the year, pending approval from local regulators.
John Tan, StanChart’s Asia head of financial markets and the chairman-designate of the new entity, said that the team will be based in Beijing and will comprise of front, middle, and back-office functions, as well as seniorities.
The strategic focus of the unit will be helping local companies to raise capital through exchange-traded fixed-income issuance, such as bonds and asset-backed securities.
This is a market worth close to 20 trillion yuan ($2.89 trillion) where StanChart sees greater potential for global investors to allocate into over the long-term.
