StanChart targets 18 percent return and 7,000 job cuts
Standard Chartered targets an 18 percent return by 2030 by cutting 7,000 roles. The bank will use AI to streamline and expand its wealth management business.
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STANDARD CHARTERED PLC will cut more than 7,000 roles by 2030 as it targets an 18% return on tangible equity. The lender plans to reduce 15% of its corporate function positions through automation and artificial intelligence. The strategy shift aims to pivot the bank toward high-margin wealth management and affluent retail banking.
