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StanChart’s private banking assets dip, hiring and tech investments continue

Standard Chartered Private Bank’s assets under management (AUM) declined by 4% YoY to US$54.2 billion and its underlying profit before tax fell by as much as 68% over the same period, according to the bank’s year-end financials. StanChart attributes this decline in AUM “to actions we took to improve our risk profile as well as maturing deposits”. The bank said that this offset…

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