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HSBC, Standard Chartered Face U.K. Probe Over Gupta Ties

LONDON (Capital Markets in Africa) – United Kingdom regulators are looking into whether HSBC Holdings Plc and Standard Chartered Plc facilitated money-laundering as a result of possible ties to South Africa’s politically powerful Gupta family. The Financial Conduct Authority probe comes after Peter Hain, a member of the unelected House of Lords, wrote a letter raising concerns about the banks’ possible exposure to the Guptas. In the letter, Hain said allegedly illicit funds may have passed through the…

StanChart Said to Revamp Investment Banking to Boost Revenue

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Standard Chartered Plc has revamped its investment banking division in a push to boost income from existing clients, as the Asia-focused lender attempts to restore revenue growth after years of missing targets, two people familiar with the move said. Paul Skelton, who heads global banking, has divided his unit into five industry segments and five regions to simplify and improve relationships with clients, said the people, who asked not to…