Standard Chartered is going on a hiring spree in Hong Kong this year
The British bank said it would add 300 to 500 employees to its ranks of roughly 5,500 to 5,800. That would lift its current headcount in the city by up to 9%. The move comes as the lender’s business in the global finance hub begins to recover to pre-pandemic levels. In a results presentation Friday, Chief Financial Officer Andy Halford said that despite Hong Kong’s economic challenges, the bank grew its operating income in the city by 9% to just over $3.
\n \n , Hong Kong’s leading bank, also flagged a strong performance in the city. In a Tuesday earnings statement, CEO Noel Quinn said the London-based lender had “gained market share last year in key products, including customer deposits, insurance and trade finance.” Chairman Mark Tucker said the firm was anticipating a boost in business from China’s resurgence.
reported a 92% jump in adjusted pretax profit to $6.8 billion in the fourth quarter of 2022, which was higher than analysts’ expectations. Hong Kong is also its biggest market. The city hopes to stage a comeback as it continues to recover from two and a half years of pandemic restrictions.
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