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StanChart India to hire 120 for priority banking
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StanChart India to hire 120 for priority banking
MUMBAI: Standard Chartered said on Tuesday it plans to hire 120 bankers in India over 12-18 months to double the relationship managers for its priority banking arm that focuses on the mid-tier wealth segment. The drive is part of global plan to hire 850 bankers under the priority banking unit to take on the likes of Citigroup and HSBC in the quest for more affluent customers.
StanChart, which has emerged relatively unscathed from the global financial crisis, has been hiring staff from rivals to boost its Asian operations at a time when many competitors are distracted by problems in their home markets. "The priority banking segment is a sweet spot in Asia as the financial needs of this segment have been underserved," Mee Har Foo, global head of Group Premium Banking said at a news conference.
In India, the bank`s priority banking would target customers with 2 million rupees ($41,000) in deposit or 10 million rupees of mortgage. The segment has about 30,000 customers and the bank targets to double it in three years or less, said Shyam Srinivasan, the head of consumer banking in India. The bank`s Indian operations are its second-largest outside Hong Kong, contributing 19 percent to group profits. It has 90 branches in the country. StanChart, which is adding 1,500 employees this year in India, employs 9,000 at the bank and 7,000 at its offshore centre in the country.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/StanChart-India-t
StanChart, which has emerged relatively unscathed from the global financial crisis, has been hiring staff from rivals to boost its Asian operations at a time when many competitors are distracted by problems in their home markets. "The priority banking segment is a sweet spot in Asia as the financial needs of this segment have been underserved," Mee Har Foo, global head of Group Premium Banking said at a news conference.
In India, the bank`s priority banking would target customers with 2 million rupees ($41,000) in deposit or 10 million rupees of mortgage. The segment has about 30,000 customers and the bank targets to double it in three years or less, said Shyam Srinivasan, the head of consumer banking in India. The bank`s Indian operations are its second-largest outside Hong Kong, contributing 19 percent to group profits. It has 90 branches in the country. StanChart, which is adding 1,500 employees this year in India, employs 9,000 at the bank and 7,000 at its offshore centre in the country.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/StanChart-India-t
