13 March 2013 06:45

StanChart CEO: No Plans to Move Headquarters Away From London

Business_L

By Fiona Law

HONG KONG-- Standard Chartered PLC (STAN.LN) has no plans to move its headquarters away from London despite concerns over the bonus cap in Europe, its Chief Executive Officer Peter Sands said Wednesday.

The management is concerned over the bonus cap's impact on the bank's ability to recruit and retain talents, Mr. Sands said, though he added Standard Chartered is committed to maintaining its competitiveness in recruiting talents.

However, Standard Chartered has no plans to move away from the U.K. "We have obligations to review the trade-offs of maintaining our domicile in the U.K.," Mr. Sands said, and "we keep reviewing, but our reference [is] to remain in the U.K."

Open Equity Research for Standard Chartered here.

He said the U.K. remains a leading international financial center in the world.

Early this month, finance chiefs from the European Union made it clear they will back a preliminary deal to impose strict caps on banker's bonuses, preventing banks from promising bonuses that exceed an employee's fixed salary. Bonuses could rise to twice a banker's fixed salary, but only with explicit shareholder approval.

 

Write to Fiona Law at fiona.law@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

March 12, 2013 23:58 ET (03:58 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

 

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
20 May
 
Normal 0 21 false false false DA X-NONE X-NONE ..
30
19 May
 
Du undrer mig at flere ikke er begyndt at bekymrer sig for situationen i Grækenland. Hvad enten man ..
25
23 May
ZEAL
Zealand Pharma havde i sammenhæng med deres Q1 resultat et web-cast, hvor ledelsen kommenterede på s..
22
21 May
 
”Verdensøkonomiens nuværende vigtigste sektor må være Kinas boligmarked. Der står 50 mio. lejlighede..
21
19 May
 
Hej alle,   Herunder er alle finanshusenes vurderinger og anbefalinger af C20 selskaber + de 'Large ..
20
19 May
GEN
Mon ikke vi nærmer os de 600 efter JNJ´s præsentation i morgen - der vil komme fokus på Daratumumab ..
20
18 May
VELO
Jeg har desværre ikke tid til en længere udredning, og heller ikke til en lang dialog, men jeg er ik..
17
22 May
VWS
BHE Renewables LLC, der er ejet af Warren Buffett's Berkshire Hathaway Energy og som for nyligt best..
15
18 May
BIOPOR
  Huj hej hvor det går. Endelig sker der noget med kursen. Og selskabet står også med nogle ret inte..
15
19 May
FING-B
Skulle der virkelig kun rød dag til for at du kom ud a hulen igen og startede din skræmmekampagne ig..
14

Notification of Transactions of Directors

22/05/2015 15:32:07
Intermediate Capital Group plc (the "Company") 22 May 2015 Notification of Transactions of Directors In accordance with the UK Financial Services Aut..

Holding(s) in Company

22/05/2015 13:38:48
For filings with the FSA include the annex   For filings with issuer..

Form 8.3 - Greene King plc

22/05/2015 10:49:20
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
FLSmidth to supply largest cement plant in South East Asia
2
PR Newswire - Service Test Notice 5
3
PR Newswire - Service Test Notice 1
4
PR Newswire - Service Test Notice 3
5
PR Newswire - Service Test Notice 4

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2015   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
24 May 2015 06:00:53
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150519.1 - EUROWEB7 - 2015-05-24 07:00:53 - 2015-05-24 06:00:53 - 1000 - Website: OKAY