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Banking

How to score in Asia’s markets: Standard Chartered




Standard Chartered
SCORE: 48
RANK: 12th
WEIGHTED SCORE: 62 (12th)
Management 5 points
A mix of the old and the new, with some of the recent hires unproven in their current roles to date. The likes of Lenny Feder and Christian Wait have good track records previously, which gives hope that ambitious plans will come off. But can the StanChart generations gel?
DCM - STAR PLAYER 6 points
Firm leads the way in local currency debt issues but rivals question how profitable they are. Also potential to translate excellent lending business into capital markets revenues
ECM - WEAK LINK 3 points
Don’t mention the ‘e-word’ has long been the mantra at StanChart in Asia. Will the ex Cazenove franchise finally help get this side of the business up and running? Has made some progress in equity-linked business by pitching hard for convertible bond mandates
M&A 3 points
A work in progress, but it’s not a smooth ride. The Bharti/MTN deal was what StanChart bankers planned to use as their calling card until it fell by the wayside. The bank is now working with Bharti on a new deal, but it will take time to build a regional track record in a business that’s not been a traditional strength
Australia 1 points
So far, StanChart has shown no real interest in building a business in Australia, preferring instead on growing through its core Asia franchises
India 5 points
The bank has great relationships in retail and corporate banking in India. But as yet has failed to turn this into much capital markets business. Again, the platform is there
North Asia 6 points
Strong in Hong Kong, winning business as elsewhere in Asia thanks to its corporate banking relationships. A better wholesale platform than rivals in Korea, but this has yet to translate to much significant investment banking business.
Southeast Asia 3 points
Despite a strong presence in Singapore, StanChart is yet to score many goals in its own backyard of Southeast Asia
Japan 1 points
Another part of the broader Asia-Pac playing field that StanChart is apparently not looking to cover
China 3 points
StanChart has a good banking platform in China, and is an active local currency market maker, but there’s little evidence of any progress on the investment banking side so far.
Markets 4 points
Not a traditional strength of StanChart but something they are looking to put right. Good array of regional hubs should help to create a meaningful business
Owner 8 points
A very strong parent bank that is embedded in, knows and understands the Asian markets. It ought to provide the platform to build a real challenger. But changing the style of play of the team is likely to be harder than its playing staff might think
If Standard Chartered was a premier league club it would be: BIRMINGHAM CITY
Wealthy Asian owners want their team to get to the higher reaches of the league. Prepared to pay to do so but taking a cautious approach to investment in the playing staff. Will this allow management to produce results at the necessary speed?


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