company traded as lse stan sehk 2888 nse stan otc pink scbff industry banking financial services predecessor standard bank chartered bank founded 1969 ; 47 years ago 1969 headquarters 1 basinghall avenue london united kingdom area served worldwide key people sir john peace chairman bill winters group chief executive services credit cards consumer banking corporate banking investment banking mortgage loans private banking wealth management revenue us 14.613 billion 2015 1 operating income us 4.116 billion 2015 1 net income us 2.196 billion 2015 1 website www.sc.com standard chartered plc is a british multinational banking and financial services company headquartered in london . it operates a network of more than 1 200 branches and outlets including subsidiaries associates and joint ventures across more than 70 countries and employs around 87 000 people . it is a universal bank with operations in consumer corporate and institutional banking and treasury services . despite its uk base it does not conduct retail banking in the uk and around 90 % of its profits come from asia africa and the middle east . standard chartered has a primary listing on the london stock exchange and is a constituent of the ftse 100 index . it had a market capitalisation of approximately 15 billion as of 20 january 2016 the 28th largest of any company with a primary listing on the london stock exchange . 2 it has secondary listings on the hong kong stock exchange and the national stock exchange of india . its largest shareholder is the government of singapore owned temasek holdings . 3 4 5 contents 1 name 2 history 2.1 predecessors 2.1.1 chartered bank 2.1.2 standard bank 2.2 1969 to 2000 2.3 2000 to 2010 2.4 2010 to present 2.4.1 money laundering charges 3 corporate affairs 3.1 consumer bank 3.2 wholesale bank 4 standard chartered breeze 5 senior management 6 sponsorship 7 social responsibility 8 notable employees 9 membership 10 see also 11 references 12 external links name edit the name standard chartered comes from the names of the two banks from which it was formed by merger in 1969 the chartered bank of india australia and china and standard bank of british south africa . 6 history edit standard chartered group headquarters london predecessors edit chartered bank edit main article chartered bank of india australia and china the chartered bank began when queen victoria granted a royal charter to scotsman james wilson in 1853 . chartered opened its first branches in mumbai kolkata and shanghai in 1858 followed by hong kong and singapore in 1859 . the bank started issuing banknotes of the hong kong dollar in 1862 . 6 standard bank edit main article standard bank historic the standard bank was a british bank founded in the cape province of south africa in 1862 by scot john paterson . having established a considerable number of branches standard was prominent in financing the development of the diamond fields of kimberley from 1867 and later extended its network further north to the new town of johannesburg when gold was discovered there in 1885 . half the output of the second largest gold field in the world passed through the standard bank on its way to london . standard expanded widely in africa over the years but from 1883 to 1962 was formally known as the standard bank of south africa . in 1962 the bank changed its name to standard bank limited and the south african operations were formed into a separate subsidiary which took the parent bank s previous name standard bank of south africa ltd. 6 1969 to 2000 edit standard chartered bank building in hong kong both banks acquired other smaller banks along the way and spread their networks further . in 1969 the banks decided to merge and to counterbalance their network by expanding in europe and the united states while continuing expansion in their traditional markets in asia and africa . 6 in 1986 lloyds made a hostile takeover bid for the group . 7 the bid was defeated ; however it spurred standard chartered into a period of change including a series of divestments notably in the us and south africa . union bank was sold to the bank of tokyo and united bank of arizona was sold to citicorp . 8 8 in 1987 standard chartered sold its remaining interests in the south african bank ; since then the standard bank group has been a separate entity . 9 in 1992 scandal broke when banking regulators charged several employees of standard chartered in mumbai with illegally diverting depositors funds to speculate in the stock market . fines by indian regulators and provisions for losses cost the bank almost 350 million at that time fully a third of its capital . 10 in 1994 london s sunday times reported that an executive in the bank s metals division had bribed officials in malaysia and the philippines to win business . the bank in a statement on 18 july 1994 acknowledged that there were discrepancies in expense claims that ... included gifts to individuals in certain countries to facilitate business a practice contrary to bank rules . 11 in 1994 the hong kong securities and futures commission found standard chartered s asian investment bank to have illegally helped to artificially support the price of new shares they had underwritten for six companies from july 1991 to march 1993 . the bank admitted the offence apologized and reorganized its brokerage units . the commission banned the bank from underwriting ipos in hong kong for nine months . 12 in 1997 standard chartered sold mocatta bullion and base metals its metals division to toronto based scotiabank for us 26 million . 13 standard chartered s asian investment banking operations never recovered . in 2000 the bank closed them down . 14 in the late 1986 a business consortium purchased a 35 % stake to fend off lloyds . a member of this consortium was malaysian born property tycoon khoo teck puat who purchased 5 % of the bank s shares which he later increased to 13.4 % . 15 2000 to 2010 edit standard chartered corporate office in marina bay financial centre singapore . in 2000 standard chartered acquired grindlays bank from anz increasing its presence in private banking and further expanding its operations in india and pakistan . standard chartered retained grindlays private banking operations in london and luxembourg as well as the subsidiary in jersey all of which were integrated into its own private bank . this now serves high net worth customers in hong kong dubai and johannesburg under the name standard chartered grindlays offshore financial services . 16 in india standard chartered integrated most of grindlays operations becoming the largest foreign bank in that country . ethics issues and financial losses triggered turmoil ; the bank went through three ceos in three years malcolm williamson was replaced in 1998 by rana talwar who was unseated by mervyn davies in 2001 . by the time davies took over his predecessors had systematically sold off the bank s holdings in continental europe and the americas . former ceo talwar has claimed standard chartered s troubles over the years is due to its failure to hire local talent . the indian born citigroup inc. veteran became the bank s first non british ceo when he was appointed in 1998 . 14 leading to the incorporation of standard chartered hong kong on 1 july 2004 the legislative council of hong kong amended legal tender notes issue ordinance . the amendment replaced standard chartered bank with its newly incorporated subsidiary standard chartered bank hong kong ltd as one of the note issuing banks in hong kong . 17 the same year standard chartered bank and astra international an indonesian conglomerate a subsidiary of jardine matheson group took over permatabank and in 2006 both shareholders increased their joint ownership to 89.01 % . with 276 branches and 549 atms in 55 cities throughout indonesia permatabank has the second largest branch network in standard chartered organization . 18 on 15 april 2005 the bank acquired korea first bank beating hsbc in the bid . 19 the bank has since rebranded the branches as sc first bank . standard chartered completed the integration of its bangkok branch and standard chartered nakornthon bank in october renaming the new entity standard chartered bank thailand . 20 standard chartered also formed strategic alliances with fleming family & partners to expand private wealth management in asia and the middle east and acquired stakes in acb vietnam travelex american express bank bangladesh and bohai bank china . the largest shareholder khoo teck puat died in 2004 ; and two years later on 28 march 2006 the singapore state owned private investment firm temasek became the bank s largest shareholder when it bought the 11.55 % stake held by the estate of billionaire khoo teck puat . 3 4 5 standard chartered bank china in guangzhou on 9 august 2006 standard chartered announced it had acquired an 81 % shareholding in the union bank of pakistan in a deal ultimately worth 511 million . this deal represented the first acquisition by a foreign firm of a pakistani bank and the merged bank standard chartered bank pakistan is now pakistan s sixth largest bank . 21 on 22 october 2006 standard chartered announced that it had received tenders for more than 51 % of the issued share capital of hsinchu international bank hsinchu established in 1948 in hsinchu taiwan . 22 in 2007 standard chartered opened its private banking global headquarters in singapore . 23 on 23 august 2007 standard chartered entered into an agreement to buy a 49 % share of an indian brokerage firm uti securities for 36 million in cash from securities trading corporation of india ltd. with the option to raise its stake to 75 % in 2008 and if both partners were in agreement to 100 % by 2010 . 24 on 29 february 2008 standard chartered plc announced it had received all the required approvals leading to the completion of its acquisition of american express bank ltd aeb from the american express company axp . the total cash consideration for the acquisition is us 823 million . 25 26 27 28 29 on 13 november 2008 standard chartered bank hong kong limited entered into an agreement to acquire 100 % of cazenove asia limited an asian equity capital markets corporate finance and institutional brokerage business from jpmorgan cazenove . 30 on 27 november 2009 dow jones financial news reported that dubai will restructure its largest corporate entity . among international banks standard chartered has one of the largest loan portfolios in the dubai market and the uae as a whole estimated to be 7.77 billion in total . this amounts to 4.2 % of standard chartered s total loans outstanding . other impacted banks included hsbc barclays and rbs . the bank stated that any impairment arising from this exposure would not be material . 31 2010 to present edit standard chartered bank tower in pudong shanghai people s republic of china standard chartered announced an agreement on 27 april 2010 to buy the african custody business from barclays plc. 32 on 13 may 2010 standard chartered plc launched the first ever indian depository receipt idr offer . 33 on 17 june 2010 standard chartered bank and the agricultural bank of china abc strengthened their strategic partnership . hong kong has been identified as a potential pilot region for the two banks co operation journey . the two banks declared aim is to co operate to provide their corporate and individual customers with world class financial markets products . a joint co operation committee will be formed by both banks to drive the strategic direction of the partnership . the committee was to be co chaired by peter sands ceo of standard chartered and zhang yun president of abc . 34 in december