Standard Chartered is to buy the Indian branch operations of Sumitomo Mitsui Banking Corporation located in Mumbai and New Delhi, subject to regulatory approvals. The two banks have submitted the necessary application to the Reserve Bank of India. Standard Chartered Bank and SMBC will also be entering into a strategic relationship to support and enhance business growth in the Japanese customer-related banking business in India. This alliance includes the establishment of a Japan Desk by Standard Chartered Bank in India. SMBC will second Japanese experts to the Japan Desk to assist the business with Japanese customers in the country.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.