Standard Chartered considers relocation to Far East

| September 17, 2010 | 0 Comments

London-based emerging markets bank, Standard Chartered, is looking to free itself from stricter regulations in Britain by considering relocating to the Far East.

The bank, which already has a strong presence in the Far East, said relocation “is something we do look at but we have no plans to move.”

According to The Times newspaper, Standard Chartered said it had “discussed the issue in depth at several meetings and has a team working on the feasibility of a move to the Far East or elsewhere.”

The bank’s chief executive Peter Sands recently said the bank’s “preferred solution” was to stay in the City but added that it would seriously consider moving if it was “hopelessly disadvantaged,” The Times added.

Meanwhile, Standard Chartered has weathered the downturn better than many of its rivals due to strong capital and liquidity.

It recently said it has had a “very strong start to the year despite margin headwinds and increasing competitive pressures.”

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