Standard Chartered Private Bank – Competitor Profile

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Standard Chartered Private Bank Competitor Profile Overview

Standard Chartered is a global bank headquartered in London, England. It provides consumer banking, corporate and institutional banking, and treasury services across 59 markets and 776 branches worldwide. In 2021, Standard Chartered restructured and merged its private banking business into the broader consumer, private, and business banking divisions to become more client-oriented.

The Standard Chartered Private Bank competitor profile report comprehensively analyzes Standard Chartered’s private banking operations. It offers insights into the company’s strategy and financial performance, including key data on AUM. Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Key Strategy Parameters Structure, Stakeholders, Global Presence, M&A And Partnerships, Active Jobs and Theme Activity, Company Filings, and Digital Transformation and ICT Spending
Key Financial Performance Parameters Operating Revenues, Cost/Revenue Analysis, Contribution to Group Performance, Assets, Peer Comparison
Key Brand-Building Activities CSR, Sponsorships, and Social Media Presence
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Standard Chartered Private Bank – Strategy

The Standard Chartered Private Bank competitor profile report covers key strategies in terms of company structure, stakeholders, global presence, M&A and partnerships, active jobs and theme activity, company filings, and digital transformation and ICT spending.

Structure and Global Presence: Standard Chartered operates through three main business divisions: Corporate, Commercial, and Institutional Banking (CCIB); Consumer, Private, and Business Banking (CPBB); and Ventures. The CPBB division offers digital banking and wealth management services; private banking services (including investment, credit, and wealth planning products for HNW individuals); and business banking services. It was formed by merging the former Retail Banking and Private Banking divisions. In terms of global presence, Standard Chartered Private Bank is headquartered in Singapore and operates offices across Asia, Africa, the Middle East, and Europe.  Standard Chartered Private Bank has a strong presence in Asia. In 2021, the bank formed an AEAN hub in Singapore, with Standard Chartered Bank (Singapore) Limited acquiring the group’s subsidiaries in Malaysia, Thailand, and Vietnam.

Standard Chartered Global Locations

Standard Chartered Global Locations

M&A and Partnerships: Standard Chartered Private Bank is primarily focused on developing its business through organic growth. The division has agreed on selective acquisitions and partnerships to drive geographic expansion and grow its product offerings. In January 2022, Standard Chartered Bank (Hong Kong) entered into an agreement to acquire RBC Investor Services Trust Hong Kong to offer trustee services for Mandatory Provident Fund and Occupational Retirement Schemes Ordinance schemes, expand the bank’s securities services capabilities, and create new business opportunities.

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Standard Chartered Private Bank – Financial Performance

Despite a surge in variable compensation expenses, increased recurring net fee income resulted in private banking profit in 2021. In 2021, Standard Chartered Private Bank’s operating revenue was estimated at $544 million.  This increase can mainly be attributed to a rise in net fee and commission income as the segment benefited from a sustained increase in client numbers and a rise in AUM. The private banking business particularly benefited from an increase in revenue from Asia, with Hong Kong and Singapore reporting strong income growth from affluent clients.

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Standard Chartered Private Bank – Customers and Products

The Standard Chartered Private Bank bank offers private banking services to HNW clients with more than $5 million to invest across Asia, Africa, the Middle East, and Europe via booking centres in Singapore, Hong Kong, Dubai, India, London, and Jersey. It offers a wide range of investment, credit, and wealth-planning products to grow and protect the wealth of HNW individuals and supports clients with their business banking needs.

Standard Chartered is increasingly focusing on sustainability and ESG solutions. The bank’s approach to sustainability is defined by its Sustainability Aspirations, which provide a set of performance targets aligned to the UN Sustainable Development Goals. Furthermore, the company is focusing on launching digital platforms and services that assist its wealth management clients. Standard Chartered launched the My RM app and SC Private Bank app for its customers to access and monitor their private bank portfolio digitally.

Standard Chartered Private Bank Customers and Products

Standard Chartered Private Bank Customers and Products

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Standard Chartered Private Bank – Brand-Building Activities

Standard Chartered carries out charitable activities through the Standard Chartered Foundation, which is also the lead partner in the group’s flagship initiative, Futuremakers by Standard Chartered. Futuremakers supports projects aimed at young people from low-income communities (especially girls and visually impaired persons) in the areas of education, employability, and entrepreneurship. The program also supports education, employability, and entrepreneurship projects.

In July 2022, Standard Chartered extended its sponsorship agreement with Premier League team Liverpool Football Club until the end of the 2026–27 season. Standard Chartered Private Bank has a separate account on LinkedIn. Standard Chartered Private Bank has a separate account on LinkedIn.

Scope

– In 2021, Standard Chartered restructured in order to become more client-centric. As part of the restructure, the private banking business was merged into the broader Consumer, Private and Business Banking division.

– Despite continued challenges from COVID-19, Standard Chartered Private Bank recorded operating revenue growth of 0.7% to reach $544 million in 2021, as the bank benefited from a sustained increase in client numbers and a rise in assets under management (AUM).

– Standard Chartered is focusing on growth in Asia-Pacific by increasing its headcount and introducing new digital wealth platforms for advisors and clients. In 2020, it launched the My RM app. This allows clients to interact with relationship managers directly, schedule appointments to go through the latest market views, and authorize investment transactions.

– In line with broader industry trends, Standard Chartered is increasingly focusing on sustainable investments. In 2023, the bank plans to launch Shoal – a new digital platform that will enable UK consumers to invest in green and sustainable projects.

Key Highlights

  • In 2021, Standard Chartered restructured to become more client centric. As part of the restructuring, the private banking business was merged into the broader Consumer, Private, and Business Banking divisions.
  • Despite continued challenges from COVID-19, Standard Chartered Private Bank recorded operating revenue growth to reach $544 million in 2021, as the bank benefited from a sustained increase in client numbers and a rise in assets under management (AUM).
  • Standard Chartered is focusing on growth in Asia-Pacific by increasing its headcount and introducing new digital wealth platforms for advisors and clients. In 2020, it launched the My RM app. This allows clients to interact directly with relationship managers, schedule appointments to review the latest market views and authorize investment transactions.
  • In line with broader industry trends, Standard Chartered is increasingly focusing on sustainable investments. In 2023, the bank plans to launch Shoal – a new digital platform that will enable UK consumers to invest in green and sustainable projects.

Reasons to Buy

  • Examine the financial performance, key ratios, and AUM growth of Standard Chartered and its Private Bank division and benchmark this competitor against other global wealth managers.
  • Understand Standard Chartered Private Bank’s current strategic objectives and their impact on its financial performance.
  • Discover Standard Chartered Private Bank’s key products and client targeting strategies and examine whether these have been successful.
  • Learn more about Standard Chartered Private Bank’s marketing strategy, social media presence, and digital innovations.

Standard Chartered
Standard Chartered Private Bank
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Thoughtworks
Franklin Templeton
Sandbox
Challenges Group
Youth Business International
Enactus
Liverpool Football Club

Table of Contents

Table of Contents

Executive Summary

Strategy

Financial Performance

Customers and Products

Brand-Building Activities

Appendix

Frequently asked questions

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