INDIA STANDARD CHARTERED RECRUITMENT
India - Standard Chartered recently announced plans to hire 120 bankers in India over the next 12 to 18 months. This will double the relationship managers for its priority banking arm division that focuses on the mid-tier wealth segment.
This comes as the bank is on the roll to recruit 850 bankers under its priority banking unit to gain more affluent customers. The company, which has been relatively unscathed from the global financial crisis has also been hiring staff from competitors to boost its Asian operations as well.
"The priority banking segment is a sweet spot in Asia as the financial needs of this segment have been underserved," said Mee Har Foo, global head of Group Premium Banking in a report by Reuters.
The bank aims to target customers In India, the bank's priority banking would target customers with 2 million rupees (S$59,587) in deposit or 10 million rupees (S$297,933) of mortgage.
Currently, this segment has about 30,000 customers and the bank aims to double the number in three years or less. The Indian operations are the second-largest outside Hong Kong and contributes to 19% of the group profits.
The bank now employs 9,000 employees in India and 7,000 in its offshore centre and hopes to add another 1,500 to its headcount this year.
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