StanChart reforms international arm

Standard Chartered has revamped an international banking division at its Dubai base as part of a major change in strategy.

"We are moving from a predominantly Jersey centric offering to a new model of five international banking centres in Dubai, London, Jersey, Hong Kong and Singapore," said Ranjit Khanna, regional head of international banking.

"This will give our high networth customers the unique advantage of formulating financial relationships across multiple geographies and multiple product sets through one bank and a single relationship manager, who will be based in their time zone and work with them to identify new investment opportunities and provide expert financial support.

"The term offshore is no longer wide enough to cover the range of financial services this arm of the bank offers. International banking offers a wide choice of jurisdictions, banking services and investment, credit card products as well as foreign exchange capabilities by bringing together Standard Chartered Bank's global capabilities across the five centres."

A team of 20 professionals, working out of Dubai and London, will focus wholly on the Middle East and South Asia.