Standard Chartered buyout fund loss shows CEO's work left to do

One of the smallest parts of Standard Chartered Plc, the U.K. bank with operations sprawling across Asia and Africa, has become one of its biggest losers.

Losses at the unit that houses the Standard Chartered Private Equity business, or SCPE, more than doubled to $650 million in 2016 as its investments lost value, the London-based bank said Friday. The soured deals were a major reason why annual profit fell short of analysts’ estimates.

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