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Standard Chartered to hire 4,000 staff in SE Asia: FT

Standard Chartered to hire 4,000 staff in SE Asia: FT
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First Published: Wed, Nov 10 2010. 08 37 AM IST
Updated: Wed, Nov 10 2010. 08 37 AM IST
London: Standard Chartered plans to hire up to 4,000 staff in Southeast Asia over the next 2-year, its regional chief executive told the Financial Times.
In an interview with the newspaper published on Wednesday, Ray Ferguson also said the UK-based bank had no plans to spend the proceeds of a $5.3 billion rights issue on a significant acquisition in Asia.
He said the bank was not looking for any “transformational transactions” in Southeast Asia, but it could look to buy small businesses specialising in sectors or products that would add to its operations.
“We have pretty much a strategy that is about organic build,” he said.
Ferguson said the bank does not intend to move its domicile away from London right now, although the issue was being “kept under review.”
“Moving the bank, moving its domicile, moving its head office, is an extremely complicated, painstakingly difficult task -- one that we believe would cause an enormous amount of disruption,” he said.
A StanChart spokesman in London was not immediately available to comment when contacted by Reuters.
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First Published: Wed, Nov 10 2010. 08 37 AM IST