Press Releases
Standard Chartered Opens Paris Branch Office
Bank moves to capitalise on expanded European business and trade flows with key Asia, Africa and Middle East markets
5 June 2008, Paris - Standard Chartered Bank announced today the opening of a branch in Paris in response to the growth of its Global Corporates and Financial Institutions business in France.
The establishment of a physical presence in France comes at an exciting time for Standard Chartered, which this year celebrates 150 years of unbroken history in both China and India. The bank has a distinct focus on Asia, Africa and the Middle East and is operating in some of the most dynamic markets worldwide.
Revenue from French corporates and financial institutions is showing significant growth in 2008 and France now accounts for approximately 10% of all European client revenue.
The bank is uniquely positioned to facilitate the increasing growth in trade and investment flows between its key markets in Asia, Africa, the Middle East - and France - and this will be a valuable proposition for French firms looking to capitalise on these flows and deepen their business in these regions.
Mike Rees, CEO Standard Chartered Wholesale Banking, said: "We are excited about the prospect of working with French clients more closely. Our bank is in great shape, and we have a lot to offer to French corporates: award-winning product capabilities, a great cross-border network and deep local knowledge in our core markets. Thanks to our recent acquisitions and our growing strategic capabilities, we are in a position to compete with the leading providers in the M&A sector. And the acquisition of American Express Bank further broadens the range of services we are able to provide clients."
The team in Paris is led by Raoul Leblanc, Directeur de la Succursale de Paris. Raoul joined Standard Chartered over 10 years ago and has been instrumental in building the business with French clients. He comments: "Closer proximity to our clients in Paris will allow us to provide them with greater accessibility to the markets they want to do business in. French trade with emerging markets is soaring and becoming increasingly important. We are an ideal partner for French corporations who are looking to capitalize on emerging market opportunities."
Standard Chartered's Paris branch, located in the modern business complex in 32, rue de Monceau, has initial capacity for 20 people. The team consists of experienced relationship managers and specialists with extensive local and global knowledge to serve the growing number of corporate clients in France.
Headquartered in London and Singapore, Standard Chartered Wholesale Banking employs over 12,000 employees. The bank offers a wide spectrum of client-centric financial solutions to corporate and institutional clients: trade finance, cash management, securities services, foreign exchange, risk management, capital raising and corporate finance solutions.
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For more information, please contact:
Standard Chartered Bank, London
Corina Blum Evans
Lotte Pang
Tel: +44 20 7885 7261 Mob: +44 7881 694 437
E-mail: Corina.Blum-Evans@standardchartered.com
i&e Consultants, Paris
William Lebedel
Tel: +33 (0) 1 56 03 12 90 Mob: +33 (0) 6 30 09 79 40
E-mail: wlebedel@i-e.fr
Notes to Editors
About Standard Chartered Bank
Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank in its markets through leading by example to be the right partner for its stakeholders. The group now employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. The bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.
The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.com.