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Thinking Local Acting Global
February 3, 2010
No bank came out of the credit crisis untarnished but Standard Chartered is one of the few that emerged with its reputation intact.
A cabinet from Malaysia sits alongside face masks from Africa, model buses from India and coins from a Chinese shipwreck.
The art that decorates Peter Sands's office tells you much more about Standard Chartered, the bank of which he is chief executive, than its location in the heart of the City of London.
The U.K.-headquartered and London Stock Exchange-listed bank's business is similar to that of many of its main rivals, spanning wholesale and consumer banking. But its geographical focus is not. Standard Chartered earns more than 90% of its profits in Asia, Africa and the Middle East. It makes more profits in Hong Kong, India or Singapore individually than it does from the U.K., the rest of Europe and the U.S. combined.
This focus on emerging markets means Standard Chartered didn't stray into some of the areas that damaged its rivals as the credit crunch took hold, according to Mr. Sands
Original Posting At: WSJ
A cabinet from Malaysia sits alongside face masks from Africa, model buses from India and coins from a Chinese shipwreck.
The art that decorates Peter Sands's office tells you much more about Standard Chartered, the bank of which he is chief executive, than its location in the heart of the City of London.
The U.K.-headquartered and London Stock Exchange-listed bank's business is similar to that of many of its main rivals, spanning wholesale and consumer banking. But its geographical focus is not. Standard Chartered earns more than 90% of its profits in Asia, Africa and the Middle East. It makes more profits in Hong Kong, India or Singapore individually than it does from the U.K., the rest of Europe and the U.S. combined.
This focus on emerging markets means Standard Chartered didn't stray into some of the areas that damaged its rivals as the credit crunch took hold, according to Mr. Sands
Original Posting At: WSJ
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