StanChart Eyes Nearly 1,000 New GBA Jobs
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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.
Questions & Answers
Q.By when does Standard Chartered plan to achieve its expanded headcount target in the Greater Bay Area?
By when does Standard Chartered plan to achieve its expanded headcount target in the Greater Bay Area?
Standard Chartered aims to increase its Greater Bay Area headcount to 2,500 by 2023. This expansion is part of the bank's strategy to double its income from the GBA business over the next five years.
Q.What investment is Standard Chartered making in Guangzhou as part of its GBA expansion?
What investment is Standard Chartered making in Guangzhou as part of its GBA expansion?
Standard Chartered is investing $40 million in a new centre in Guangzhou. This facility is expected to accommodate over 1,600 employees by 2023, supporting the bank's broader growth targets.
Q.Which specific business areas will Standard Chartered prioritise for growth in the Greater Bay Area?
Which specific business areas will Standard Chartered prioritise for growth in the Greater Bay Area?
The bank will focus on retail banking, corporate banking, and most notably, wealth management within the Greater Bay Area. This specialisation aims to help meet the goal of doubling income from the region.
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