Standard Chartered to restructure global M&A team to focus on target sectors, efficiency
- Internal revamp will eliminate 20 roles globally and double the number of M&A bankers to 100, according to a Reuters report on Monday
“Our corporate and investment banking clients are increasingly asking us to support them on advisory work alongside cross-border risk management and financing,” the bank said in an emailed statement on Monday.
“We are expanding our M&A capabilities, focusing on target sectors, and taking a forensic approach to drive greater efficiency in the business.”
Standard Chartered’s comments were in response to news reports on Monday that the UK lender will eliminate more than 20 roles globally, and double the M&A team to over 100 bankers, according to Reuters, which cited people with direct knowledge of the matter.
The lender is redeploying some of the roles from the industries team to other teams including the capital markets to avoid duplication, an exercise that would lead to some job losses, the report added.
The London-based lender did not confirm the job cuts and additions in its statement.
