Bill Winters quashes rumours about HQ move as he reports 44% fall in first-half profits after bad debts in India and fraudulent loan in private bank dent results
The new boss of Standard Chartered has halved the dividend and attempted to quash speculation that the emerging markets-focused bank is to move its headquarters out of London.
Bill Winters, making his first presentation since he replaced Peter Sands in June, also left the door open to tapping investors for cash to bolster the bank’s financial strength. A full strategic review will be presented later in the year as the investment banker tries to cut costs and bolster returns to shareholders.
Continue reading…
Source: The Guardian Circular Economy RSS