StanChart strengthening equities operations in Asia
Plans doubling its Hong Kong 40 research analysts and expand in South Korea and India.
Standard Chartered PLC is beefing up its equities business with plans to double its research team in the next 12 months and to expand in India and South Korea.
Equities hasn't traditionally been an area of strength for Standard Chartered. But the U.K.-based bank, which makes most of its money in Asia, took a significant step toward changing that in November 2008, when it agreed to buy the Cazenove Asia equities business from a venture now owned by J.P. Morgan Chase & Co.
Standard Chartered is doubling its equities research team in Hong Kong.
Tim Andrew, the bank's global head of equities, says Standard Chartered's goal is to double its 40-analyst-strong research team in the next 12 months. With that increase in research, Standard Chartered will cover 650 companies in Asia, outside Japan and Australia, compared with the current 250.
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