Standard Chartered

Standard Chartered

Standard Chartered is a british multinational banking and financial services company founded by James Wilson.

Standard Chartered is a London-based multi-national banking and financial services company. The bank operates in more than sixty markets and and employs more than 86,000 people through it's various locations. It's headquarters are in London. Standard Chartered offers private and commercial banking services.

In 2018, Standard Chartered applied for a virtual banking licence with the Honk Kong Monetary Authority (HKMA). Standard Chartered won the licence in May of 2019.


Incorporated in 1969 after the merger of the Standard bank of British South Africa and the Chartered bank of India, Australia and China. Standard Bank was originally founded by John Paterson in 1862 in Port Elizabeth. Chartered bank was originally founded by James Wilson in 1853. The name, Standard Chartered, comes from these two banks.

Since their founding, both Standard bank and Chartered bank focused their growth in emerging markets, such as tea, indigo, tobacco, hemp, silk, and diamonds. These markets were outside of the wider European community. Standard Chartered continues to focus their growth in markets outside of Europe.

In 1986, Lloyd's Bank made a hostile takeover bid of Standard Chartered. The bid was opposed with the help of Yue-Kong Pao, Tan Sri Khoo and Robert Holmes a Court.


In 2000, Standard Chartered acquired Grindlay's from Australia and New Zealand Bank (ANZ) for £848 million. The acquisition grew Standard Chartered's presence in India, while extracting ANZ from the emerging markets risk.

In 2005, Standard Chartered beat HSBC Holdings in a big to acquire Korea First Bank for $3.3 billion. The acquisition grew Standard Chartered's presence in South Korea.

Legal history

In 2012, Standard Chartered agreed to a USD $670 million settlement with US regulators over allegations the bank breached sanctions with Iran. The allegations suggested Standard Chartered helped Iranian clients around US financial sanctions. Detailed were around 60,000 transactions between 2001 and 2007. Part of the settlement with the U.S. Department of Justice saw the bank under supervision by an independent monitor. The bank also agreed to establish a financial crime risk mitigation program and upgrade its technology to meet the U.S. Department of Justice standards.

In 2019, Standard chartered was fined USD $900 million by US regulators over breaches of their settlement agreement of 2012 and £102 million to Britain's Financial Conduct Authority (FCA). The US regulators fine is for breaches to US sanctions against Burma (Myanmar), Cuba, Iran, Sudan and Syria. The FCA fine is for, what they called, serious and sustained shortcomings in Standard Chartered's financial crime controls.


September 4, 2019

Standard Chartered launches DigiSmart credit card.

Mumbai, Sep 3 (UNI) Standard Chartered Bank on Tuesday announced the launch of its "DigiSmart" credit card focused primarily on the ever-growing segment of millenials.

September 3, 2019

Standard Chartered Bank and Traydstream today announce the sealing of a strategic agreement to introduce Traydstream's digital trade document matching services to the bank's clients.

August 5, 2019

Standard Chartered announced on Aug. 5 that the institution successfully ran their first joint deep-tier supply chain financing transaction in partnership with China-based supply chain financing service provider Linklogis.

July 8, 2019

Standard Chartered HK introduces keyboard-based banking solution - FinanceFeeds

April 9, 2019

U.S. Treasury Department Announces Settlement with Standard Chartered Bank | U.S. Department of the Treasury

As part of a combined $1.1 billion settlement with federal, state, local, and United Kingdom government partners, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $639 million agreement with Standard Chartered Bank (SCB) to settle its potential civil liability for apparent violations of U.S. economic sanctions.

April 2019

Standard Chartered faces fine for sanctions breaches.

March 18, 2019

Standard Chartered introduces SC Ventures Fintech Bridge.

October 11, 2018

Standard Chartered, Huawei partner over IoT solution aiming to transform corporate communication with banks - FinanceFeeds

August 30, 2018

Blockchain technologies make further strides in the finance industry, as Standard Chartered announces today a partnership with Siemens Financial Services, the financing arm of Siemens, and TradeIX, a digital trade provider, to carry out a client pilot to create an end-to-end blockchain-based smart guarantees proposition in trade finance.

June 11, 2018

The bank whose top compliance professionals are accused of harassment. How banks learned to do without employees.

April 25, 2017

Standard Chartered supercharges fintech accelerator graudates

August 10, 2015

Standard Chartered, one of the UK's biggest banks, told financial press on Monday both the bank and Adani had agreed to end the bank's role in the Carmichael mine project, which has been estimated to be worth about A$16bn.


Double Standards: Standard Chartered insists on massive capital and liquidity charges, yet fails to meet its own required capital stipulations.

August 14, 2012

Standard Chartered to Pay $340 Million to Settle Iran Money Case in New York


Standard Chartered Bank sets up private banking HQ in Singapore.


2008 - Standard Chartered PLC announced on 29 February that it has received all the required approvals leading to the completion of its acquisition of American Express Bank Ltd (AEB) from the American Express Company (AXP).


Standard Chartered to acquire 49% stake in UTI Sec for Rs 147 cr.

September 29, 2006

Standard Chartered to buy Hsinchu Bank

September 5, 2006

KARACHI, Sept 5: Standard Chartered PLC announced on Tuesday that its subsidiary company, Standard Chartered Bank (Pakistan) Limited, has completed the acquisition of 95.37 per cent interest in Union Bank Ltd.

April 28, 2000

Standard Chartered snaps up Grindlays



Amanda Mellor

Group Company Secretary

Andy Halford

Group Chief Financial Officer

Benjamin Hung

Regional CEO, Greater China & North Asia and CEO, Retail Banking, and Wealth Management

Bill Winters, CBE

Group Chief Executive

Carlson Tong

Independent Non-Executive Director

Christine Hodgson

Senior Independent Director

David Connor

Independent Non-Executive Director

David Fein

Group General Counsel

David Tang

Independent Non-Executive Director

David Whiteing

Group Chief Operating Officer

Deniz Güven

CEO of Standard Chartered Virtual Bank

Dr Byron Grote

Independent Non-Executive Director

Dr Louis Cheung

Independent Non-Executive Director

Dr Michael Gorriz

Group Chief Information Officer

Dr Ngozi Okonjo-Iweala

Independent Non-Executive Director

Gay Huey Evans, OBE

Independent Non-Executive Director

Jasmine Whitbread

Independent Non-Executive Director

José Viñals

Group Chairman

Judy Hsu

Regional CEO, ASEAN & South Asia

Mark Smith

Group Chief Risk Officer


Further reading

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Documentaries, videos and podcasts

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April 2, 2020
In times of market turbulence, such as the current market swings caused by COVID-19, investors and their wealth advisors need to make challenging decisions and/or avoid bad ones. Standard Chartered's new Investor Personality Study reveals the individual personality traits that have a major impact on the way investors react when faced with difficult investment decisions. Understanding these traits can help investors and their wealth advisors recognise and overcome the natural biases that ca...
Reuters Editorial
March 17, 2020
Standard Chartered on Tuesday said it expects global oil demand to decline by a record amount in 2020 citing the rapidly spreading coronavirus and the travel restrictions imposed to contain it.
Reuters Editorial
March 9, 2020
Standard Chartered on Monday cut its 2020 and 2021 oil price forecast, saying the price war sparked by the collapse of a deal between the Organization of the Petroleum Exporting Countries and other producers (OPEC+) will likely be severe and prolonged.
Lawrence White
March 6, 2020
Standard Chartered Chief Executive Bill Winters is expected to stay at the bank until the conclusion of its current strategy, its Chairman Jose Vinals said in an internal memo seen by Reuters on Friday.
Matthew Green
March 2, 2020
British hedge fund billionaire Chris Hohn has launched a campaign to persuade central banks to starve hundreds of planned coal-fired power plants around the world of finance, aiming to block the projects before they can pose a threat to the climate.
No Author
February 28, 2020
The Japan Times
The world economy may be heading for its worst performance since the financial crisis, more than a decade ago, as the spread of new virus that causes COVID
February 19, 2020
Kahina van Dyke, one of the leading women in the Fintech sector, has joined Standard Chartered's Corporate, Commercial and Institutional Banking division ("CCIB") as Global Head, Digital Channels and Client Data Analytics. Kahina joins from Ripple, the blockchain-based enterprise payments company, where she was Senior Vice President, Business & Corporate Development. She was previously Global Director, Financial Services and Payments at Facebook, and previously spent several years at Mas...
February 12, 2020
Standard Chartered and leading payments solution provider, Assembly Payments, have set up a new joint venture to deliver next generation payment solutions for the USD 29 trillion global e-commerce industry[1]. The new company will be headquartered in Singapore with the intent to grow the business globally, and will offer a sophisticated digital payment platform to manage transactions across multiple payment types and countries, including online, mobile and point-of-sale, digital wallets,...
February 6, 2020
Standard Chartered, a leading international banking group, and Infor, a global leader in business cloud software specialised by industry, today announced a strategic agreement to introduce the Infor Nexus network to the Bank's clients. By digitising the financial supply chain, businesses can minimise supply chain delays and friction, while suppliers can benefit from improved access to capital. The Infor Nexus network transforms the traditionally manual process of data matching across mu...
Reuters Editorial
January 29, 2020
Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Starbucks warned results would be hit after it shut over half its cafes in the country.
January 20, 2020
Standard Chartered has appointed Michael Spiegel as Global Head of Trade, effective 2 January 2020. Based in Singapore, he reports to Lisa Robins, Global Head, Transaction Banking. Michael brings to the Bank more than three decades of experience working across Europe, the US and Asia. He joins from Deutsche Bank where he shaped the global trade finance and cash management offering in various roles, including Global Head for Trade Finance and Corporate Cash Management. He has also held se...
January 3, 2020
Standard Chartered announced the appointment of Rene W. Keller as Chief Information Officer (CIO), Corporate, Commercial & Institutional Banking (CCIB). Based in Singapore, he reports to Dr Michael Gorriz, Group Chief Information Officer, and is responsible for the business' technology strategy, architecture and delivery value chain that will drive strategic business outcomes. A seasoned leader in IT management and strategy, Rene brings to the Bank his expertise in and strong focus on c...
December 19, 2019
Standard Chartered's Wealth Management Advisory released its market outlook for the year ahead, which provides the view that financial markets are likely to face a balancing act in 2020. Against a backdrop of stabilising growth and supportive policymakers, equities - led by the US and Euro area - are expected to outperform bonds, within which Emerging Market bonds should outperform Developed Market bonds. Steve Brice, Chief Investment Strategist at Standard Chartered Private Bank, explai...
December 13, 2019
Standard Chartered PLC ("Standard Chartered") and PT Astra International Tbk ("Astra" and together the "Sellers") have today entered into a conditional share purchase agreement (the "Agreement") to sell their respective 44.56 per cent stakes in PT Bank Permata Tbk ("Permata") in Indonesia to Bangkok Bank Public Company Limited ("Bangkok Bank"). Completion of the transaction is subject to certain conditions including approvals by the shareholders of Bangkok Bank and the receipt of the appl...
P R Sanjai and Baiju Kalesh | Bloomberg
November 20, 2019
Read more about Piramal gets waiver on debt contract after offering to pay Rs 15 bn early on Business Standard. It's a very 'routine treasury transaction,' Piramal Enterprises said in an email response
Tim Cocks
November 18, 2019
Corruption under South Africa's former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday.
November 13, 2019
Standard Chartered has partnered with Quantexa, the contextual decision intelligence software company, to amplify its anti-financial crime efforts globally. Working as part of a wider ecosystem, Quantexa will support Standard Chartered's Financial Crime team through use of dynamic entity resolution, network analytics and contextual data to tackle major real-world challenges, including money laundering, fraud and terrorist financing. Quantexa's decision intelligence platform utilises AI to...
Reuters Editorial
August 17, 2019
Standard Chartered PLC is facing a fine for failing to prevent sanctions breaches, Sky News reported on Saturday.
July 22, 2019
Standard Chartered announced a gear-change in its sponsorship of Liverpool Football Club Women, moving to the front of their shirt and sees it emerge as Main Club Partner. This multi-year partnership runs in line with the men's team. This agreement with the women's team demonstrates Standard Chartered's views on the importance of women's football, and now solidifies their relationship with the Liverpool FC family. Standard Chartered's announcement follows the success of the Women's World...
May 23, 2019
Standard Chartered has officially launched the Trade AI Engine, a joint solution developed in partnership with IBM to enhance the client experience in trade document processing through increased operational efficiency and strengthened operational control. The industry-leading solution is currently live in key markets across Asia, Africa and the Middle East1, with more markets across the Bank's footprint to follow2. Traditional documentary trade requires millions of data elements in paper-...