StanChart Eyes Nearly 1,000 New GBA Jobs

Standard Chartered unveiled growth targets for its Greater Bay Area business, including the addition of nearly 1,000 new jobs.

The Asia-focused British lender will grow its Greater Bay Area (GBA) headcount from 1,4000 now to 2,500 in 2023, according to its chief for the 11-city cluster Anthony Lin.

The expansion includes a $40 million investment in a Guangzhou-based center that will house more than 1,600 employees by 2023, Lin said during a recent online media briefing.

The headcount expansion will help Standard Chartered meet its aims to double its income from the GBA business over the next five years.

Areas of focus include retail banking, corporate banking and, most notably, wealth management.

Major lenders in Hong Kong are readying to make their inroads into the GBA market with the Wealth Management Connect being the most notable upcoming cross-border scheme.