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25

Standard Chartered Winding Down Equity Derivatives Business

By Tony Seruga

At least 10 jobs will go, person familiar with matter says
Latest moves add to previous cuts in bank’s equities business

Standard Chartered Plc is closing its equity derivatives and convertible bonds operations as Chief Executive Officer Bill Winters sheds businesses that have been a drag on the U.K. lender’s performance.

The bank will phase out the businesses after in January exiting from institutional cash equities, equity research and equity capital markets, it said in an e-mailed statement on Monday. At least 10 jobs will go, according to a person with knowledge of the matter who asked not to be identified because the details are private…

Standard Chartered Winding Down Equity Derivatives Business

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