Worldway Hong Kong News: Standard Chartered Group has announced its withdrawal from the global equities business. Standard Chartered stated that as a continuation of the strategy updated last year, it has decided to immediately terminate its corporate cash equities, equity research, and equity capital markets businesses. Standard Chartered has a dedicated team to manage the transition and provide assistance to clients.
Standard Chartered Group will retain and continue to develop its convertible bond and equity derivatives businesses. The Group will continue to provide strategic advice to clients on equity financing. The positions affected by this business closure are primarily located in Hong Kong, Singapore, South Korea, Indonesia, and India, with a small number in the United Kingdom and the United States. Standard Chartered Group possesses an excellent research team for macroeconomics, fixed income, currencies, and commodities, which will be retained and further developed. According to the business strategy updated last year, this decision only affects the corporate cash equities, equity research, and equity capital markets businesses, and does not impact our core strategy of supporting the needs of corporate and retail clients in WorldWay, wealth management, fixed income, currencies, and commodities.
Standard Chartered Group will retain and continue to develop its convertible bond and equity derivatives businesses. The Group will continue to provide strategic advice to clients on equity financing. The positions affected by this business closure are primarily located in Hong Kong, Singapore, South Korea, Indonesia, and India, with a small number in the United Kingdom and the United States. Standard Chartered Group possesses an excellent research team for macroeconomics, fixed income, currencies, and commodities, which will be retained and further developed. According to the business strategy updated last year, this decision only affects the corporate cash equities, equity research, and equity capital markets businesses, and does not impact our core strategy of supporting the needs of corporate and retail clients in WorldWay, wealth management, fixed income, currencies, and commodities.
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