Standard Chartered Is Now a Super Strong Bank, Says CEO

The transcript discusses Standard Chartered's strategy to achieve over 10% returns by 2021 through $700 million in cost cuts and leveraging core strengths. The focus is on organic growth, particularly in wealth management, and improving efficiency by relocating employees to lower-cost locations. The bank aims to enhance productivity and partner with tech companies in low-return markets. Despite investor pressure, the bank is committed to its plan, regardless of economic conditions. The potential for industry consolidation is acknowledged, but not deemed necessary for their strategy.

What is the primary goal of Standard Chartered's plan by 2021?

• To merge with another bank

• To expand into new markets

• To achieve a 10% return

• To reduce costs by $1 billion

What is the focus of Standard Chartered's next phase after cost-cutting?

• Reshaping operations for growth

• Increasing marketing budget

• Acquiring new companies

• Reducing employee headcount

How does Standard Chartered plan to improve its low-return markets?

• By selling off these markets

• By closing down operations

• By investing in local businesses

• By partnering with tech companies

What is the bank's strategy regarding employee relocation?

• Hiring more employees in London

• Reducing headcount in all locations

• Moving employees to high-cost locations

• Rotating employees to lower-cost locations

What is the bank's stance on mergers and acquisitions?

• Focusing on acquiring small banks

• Planning to merge with a UK rival

• Not necessary for their strategy

• Actively seeking mergers

What external factor is mentioned as influencing the bank's performance?

• European banking regulations

• US-China trade relationship

• Middle East political stability

• African market growth

What is the bank's approach to achieving better returns?

• Increasing interest rates

• Focusing on internal strategies

• Relying on favorable market conditions

• Waiting for economic recovery