Standard Chartered Private Banking

About

• Standard Chartered Private Banking is a part of the Standard Chartered bank which was founded by the merger of the Standard Bank of British South Africa (founded in 1863) and Chartered Bank of India, Australia and China (Founded in 1853). 

• Standard Chartered PLC, the ultimate parent company of Standard Chartered Bank, together with its other branches and subsidiaries form the Standard Chartered Group. Standard Chartered Private Bank is the private banking division of Standard Chartered.

• The private banking division has a clientele of nearly 7000 HNIs. 

• In 2020, their operating income was $540 million.

• Their India onshore AUM as of 2019 was US$ 10.4 billion. (Source: Asian Private Banker)

• The total number of their affluent clients were 2 million in 2020. 

• They operate in 30 locations globally, have a network across Asia, Africa and the Middle East. 

• They had a total number of 19 RMs in India region as of 2019. ( Source: Asian Private Banker) 

• Private banking services can be accessed from 6 key centres: Hong Kong, Singapore, London, Jersey, Dubai and India.
• Licenses:

– In Singapore, Standard Chartered Private Bank is the private banking division of Standard Chartered Bank (Singapore) Limited, (Registration No. 201224747C) (GST Group Registration No. MR-8500053-0). 

– In Hong Kong, Standard Chartered Private Bank is the private banking division of Standard Chartered Bank (Hong Kong) Limited (“SCBHK”), a subsidiary of Standard Chartered PLC.It is regulated by the Hong Kong Monetary Authority and registered with the Securities and Futures Commission to carry on Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activity under the Securities and Futures Ordinance (Cap. 571) (CE No. AJI614).

These are the Asia specific licenses that have been mentioned in the company website, no specific information about Indian licences have been mentioned. 

Key staff

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Services

investment, credit and wealth planning products. 

Investment philosophy (for firm)

• The aim is to grow, manage and protect the wealth of HNIs. 
• Their investment advisory and product platform is independent of the research houses and product providers as that ensures that the company puts the client’s interest at the centre of their business.
• The company’s network across different continents provides client’s relevant market insight and cross-border investment and financing opportunities.
• Their strategic priorities: 

1. Leverage significant wealth creation and wealth transfers in their markets to increase franchise scale 
2. Deliver a unique and compelling client value proposition, which focuses on:

– Access: through market-leading products and platforms 

– Advice: differentiated investment insights delivered through their bankers and investment advisers 

– Affinity: partnering clients through a sustainable investing offering and their next generation programme 

3. Build adaptive teams with strong leaders and a transparent focus on results 
4. Build for scale by focusing on efficiency on all fronts 
5. Sustainable growth through establishment of robust controls and an active “Think Conduct” culture

• The company believes that the alternatives open up different return propositions which traditional asset classes cannot do. They have four strategies – equity hedge , global macro, relative value and even driven. 
• They keep their focus on cyclic and structural themes to define markets for the particular year. 

Media

Final Word 2020: Cedric Lizin, Standard Chartered Bank, Asian Private Banker, 2020.

In the interview Cedric talks about the Asian markets, how assets and alternative investment from China is considered to be a prospect that affects their investment. There is an elaboration of the investment strategy and how Standard Chartered Private Banking is slipping in the increased use of technology. There is also a talk on how the company is inculcating sustainable investing. 

Standard Chartered to merge several businesses in group restructure, Private Banker International, September 11, 2020. 

Standard Chartered to merge several businesses in group restructure

The article talks about restructure that includes the merger of retail banking, private banking, and wealth management. Changes were believed to further strengthen their business with individual clients, supporting growth in all aspects of profitable and differentiated business. 

Analyst questions

1. We get to read a lot about your investment strategies in general. What are your investment strategies in terms of India in particular? 
2. How have you seen private banking in the Indian markets grow and what are your views for its future?