Standard Chartered plc

From WikiCorporates
(Redirected from Standard Chartered)
Jump to navigation Jump to search
Standard-Chartered.svg

Standard Chartered is is a multinational financial services company, headquartered in London. The group trades through its network of 1,0262019 branches throughout Asia (65.4%), Africa and Middle East (19.8%), Europe and Americas (8.5%), and Other (6.3%).

The group conducts its business activities through the following divisions:

  • 39.4%: Investment, financing and market banking: business financing, credit unions, sales of structured products, cash and rate management, security compensation and conservation, fund management, etc.;
  • 36.7%: Retail banking: sale of products and traditional banking services, issue of credit cards, consumer and real estate loans, small and medium business loans, on-line banking, etc.;
  • 9.8%: Commercial banking;
  • 3.5%: Private banking;
  • 10.6%: Other.

Corporate Political Engagement Rating:[1] Transparency International    B  

BankTrack-Fossil-Bank.svg Financing Fossil Fuels:[2]
 Tar Sands: $13m   Arctic Oil: $82m   Offshore: $1.02bn   Fracking: $137m   LNG Export: $219m   Coal Mining: $123m   Coal Power: $279m 

Company

Shareholders

Total float: 93.9%
Source: MarketScreener.svg, Mar.2020
† Temasek Holdings Private Ltd is the Govt of Singapore's wealth fund. Temasek HoldingsWikipedia-W.svg

Structure

ToDo: Reports, History

Standard Chartered Bank, an indirect subsidiary of Standard Chartered plc, is incorporated in England with limited liability by Royal Charter 1853, under reference number ZC18. Webpage, CH

Articles

  • Jun.09.2018: ‘Abrasive’ compliance chief quits bank. Neil Barry, Standard Chartered’s head of compliance, has left after an investigation into his “inappropriate” management style. His departure has led to an increased role for Tracey£ McDermott, former head of the Financial Conduct Authority who joined the bank just over a year ago as head of corporate, public and regulatory affairs and brand and marketing. Ms McDermott and Mark Smith, the chief risk officer, said in a memo to staff yesterday: “As a result of the investigation, we went through a full and fair disciplinary process. This concluded that Neil’s managerial style, behaviour and language towards some of his colleagues was inappropriate and not in line with our valued behaviours, although it fell short of warranting his dismissal.” Bill Winters, Standard Chartered’s chief executive, introduced a tighter code of conduct in 2016, saying that senior staff had been flouting ethics rules and saw themselves as “above the law”. Last year the bank said that the term of its deferred prosecution agreement with the US Department of Justice and the New York District Attorney had been extended by eight months until Jul.28.2018. Katherine Griffiths, The Times.

References

  1. ^ Corporate Political Engagement Index 2018. The new index of 104 multi-national companies, many of whom regularly meet with govt, has found nearly 75% are failing to adequately disclose how they engage with politicians. Only one company received the highest grade, with the average grade being "E" – representing poor standards in transparency. Transparency International UK, Nov.2018.
  2. ^ Banking on Climate Change: Fossil Fuel Finance Report 2020. The new Report shows financial support for the Fossil Fuel Industry has increased every year since the Paris Agreement was adopted in Dec.2015. Again, the big USA banks dominate; again, JPMorgan Chase leads the pack, with Wells Fargo, Citigroup, and Bank of America close on their heels. These 4 banks alone are responsible for 30% of all fossil fuel financing out of the 35 major global banks since the Paris Agreement was adopted. Rainforest Action Network, Mar.20.2019.