StanChart to cut 10% of corporate, institutional banking staff

Photo: Reuters

Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount, sources with direct knowledge of the matter told Reuters on Monday, as the bank keeps up an aggressive drive to cut costs.

Standard Chartered Chief Executive Bill Winters this month branded the bank’s income and profit unacceptable, as below-forecast third-quarter results underlined the challenges facing his overhaul.

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