StanChart says no job cuts in HK

Business | 30 Jul 2020 5:32 pm

Mary Huen Wai-yi, chief executive of Standard Chartered Bank (Hong Kong), said the bank has maintained a headcount at around 600 in the city in the past few years, thanks to effective cost management, and is still hiring.

Benjamin Hung Pi-cheng, regional chief executive of Greater China and North Asia, and chief executive of retail banking and wealth management, said the bank has made a commitment that it will not cut jobs due to the coronavirus pandemic.

The London-based lender will set up a Greater Bay Area center in Guangzhou in the third quarter this year, with a total investment of around HK$310 million, and expects headcount in the center will exceed 1,600 by the end of 2023. The bank sees significant opportunities in the planned wealth management connect, development in the new economy sector, as well as greater capital flow in the region, said Hung.

The top managers reiterated their support for the national security law during today's press conference. They believe the new law will bring back social stability to Hong Kong.


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