Standard Chartered plans to reopen private bank in Switzerland – report

Standard Chartered is reportedly readying to reestablish a backstage banking cognition successful Switzerland, arsenic portion of its efforts to heighten its offerings for affluent customers.

The British lender is readying to reopen an bureau successful Geneva by 2027 astatine the earliest, reported Bloomberg, citing radical acquainted with the matter.

This quality follows the bank’s winding down of its Swiss backstage banking limb astir a decennary agone aft it failed to find a purchaser for the business.

At the time, Standard Chartered underwent a restructuring, which focused connected offloading non-core activities and expanding successful Asia, the Middle East and Africa.

The slope has since identified its wealthiness concern arsenic cardinal to boost returns and acceptable a people successful December past twelvemonth to unafraid $200bn from wealthiness clients implicit 5 years.

Its wealthiness part onboarded 67,000 clients to its level successful the 3rd 4th of 2025 and generated $2.41bn successful gross successful the archetypal 9 months, a 25% summation connected the aforesaid play past year, the study said.

In a abstracted development, Standard Chartered has been selected arsenic the main banking spouse for DCS Card Centre, a recognition paper designed to alteration stablecoin spending successful the existent world.

Under the agreement, Standard Chartered volition supply transaction banking and fiscal markets services to enactment DeCard’s idiosyncratic basal successful Singapore.

The slope volition supply services specified arsenic cardholder top-up processing, relationship management, and fiat and stablecoin settlements.

It volition negociate the card’s treasury, liquidity and overseas speech hedging done its Financial Markets capabilities.

This collaboration initially covers Singapore, with plans for enlargement to different markets.

In addition, Standard Chartered has appointed Jim Wang arsenic main enforcement serviceman (CEO) of its China Securities unit, reported Reuters, citing 2 sources.

Wang has implicit 2 decades of acquisition crossed securities, plus absorption and banking and has held elder absorption roles astatine aggregate institutions.

He is replacing Grace Geng, who near the steadfast successful July aft a 16-month tenure.

"Standard Chartered plans to reopen backstage slope successful Switzerland – study " was primitively created and published by Private Banker International, a GlobalData owned brand.

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