Standard Chartered weighs breaking up corporate, investment bank
The revamp would be the latest effort by CEO Bill Winters to improve Standard Chartered’s returns. The bank’s shares have languished under the 62-year-old CEO and currently trade about 40% below where they traded when he took the reins in 2015.
The Fort Lee, New Jersey, company has hired a pair of veteran investment bankers to helm an effort serving fintechs' capital market needs "doubling down" on its commitment to the sector.
The hiring of Viswas Raghavan as Citi's head of banking is the latest move by the global bank to attract talent from rivals. His departure set off more leadership tweaks at JPMorgan Chase.