StanChart CEO says banks global focus still valid amid calls for HSBC break-up

div classBodysc17zpet90 cdBBJodivpBy Iain Withersp

pLONDON Reuters – Standard Chartered Chief Executive Bill Winters said the merits of a UKbased, Asiafocused bank remain valid in the face of “unpredictable” geopolitical tensions.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pSpeaking to Reuters on the sidelines of StanCharts annual general meeting, Winters said there was a role to be played by banks like StanChart and its larger UKlisted rival HSBC, which is facing fresh calls from its top investor to break itself up.p

p“We are demonstrating that were going to make this model work. It has worked in the past,” Winters said.p

p“I can only speak to us but it works for us to be a UKbased bank thats global in nature.”p

pWinters said he hoped both banks could navigate the tensions which have heightened sharply since Russia‘s invasion of Ukraine. U.S. officials remain concerned about China’s refusal to condemn Russias actions.p

p“These are unpredictable things but lets hope so,” Winters said.p

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pp Reporting by Iain Withers, writing by Sinead Cruise, editing by Elisa Martinuzzip

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