page_title: Standard Chartered
section_title: 2010 to present
hierarchical_section_title: Standard Chartered / History / 2010 to present
caption_attribution_description: 中文: 渣打银行大厦 (陆家嘴开发大厦) English: Standard Chartered Bank Tower (f.k.a. Lujiazui Development Tower)
context_page_description: Standard Chartered PLC is a British multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa and the Middle East.
  Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £24.4 billion as of 4 April 2017, the 28th-largest of any company with a primary listing on the London Stock Exchange. It has secondary listings on the Hong Kong Stock Exchange and the National Stock Exchange of India. Its largest shareholder is the Government of Singapore-owned Temasek Holdings.
  José Viñals is the Group Chairman of Standard Chartered. Bill Winters is the current Group Chief Executive.
context_section_description: Standard Chartered announced an agreement on 27 April 2010 to buy the African custody business from Barclays PLC. On 13 May 2010, Standard Chartered PLC launched the first-ever Indian Depository Receipt "IDR" offer.
  On 17 June 2010, Standard Chartered Bank and the Agricultural Bank of China (ABC) entered into a strategic alliance meant to strengthened their strategic partnership and identify joint business opportunities. Joint business and cooperation task forces were set up in October that year to define the direction of the partnership and explore joint ventures. The committee was to be co-chaired by Peter Sands, CEO of Standard Chartered, and Zhang Yun, President of ABC.
  In December 2010, Standard Chartered was recognised as the Global Bank of the Year in The Banker's Bank of the Year 2010 awards. Standard Chartered also was named The Banker's inaugural winners of the Global and European Transaction Bank of the Year awards in September 2014, largely "on the basis of its work in emerging markets, particularly Asia".
  In January 2015, the company announced that it was exiting the money-losing "equity capital markets business completely", "becoming one of the first global banks" to do so. In November that year, the bank announced that it would cut 15,000 jobs, including one thousand senior jobs, "from managing director up to board executives". The cuts followed a change of CEO after profit warnings and money laundering fines in the first half of the year.
  In 2016, Standard Chartered announced that it would stop providing loans to the midstream segment of the diamonds and jewellery industries. The announcement was the result of a review of the bank's involvement in risky business sectors. In 2017, the bank was reported to have lost $400 million on risky diamond debt on a portfolio of loans that was once worth $3 billion. Owing to defaults of jewellery and diamond companies from 2013 onwards, Standard Chartered is currently estimated to have $1.7 billion of diamond debt still to be repaid.
  The company received criticism in April 2017 from the Institutional Shareholder Services (ISS). The investor advisory firm told shareholders it was concerned that targets set for the top bosses in the bank's long-term incentive plan (LTIP) were not demanding enough. Bill Winters, the chief executive, stands to net share awards with a face value of as much as £4.4m from the scheme, while Andy Halford, the chief financial officer, could receive £2.7m.
caption: Standard Chartered Bank Tower in Pudong, Shanghai, People's Republic of China
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