The UK-listed banking group said it expects to have more than 1,600 employees at the hub by next year.
Standard Chartered Bank has officially opened its Greater Bay Area (GBA) Centre, completing a $40 million development which it said “underscores” the bank’s commitment to the Greater Bay Area.
Located in Guangzhou city centre, it serves clients across consumer, private, business, corporate, commercial, and institutional banking, provides a business, operations, and a technology hub. At present there are more than 700 employees based in the centre, a number which the bank expects to surpass 1,600 by 2023.
“GBA is a strategic focus for Standard Chartered, and our GBA business will play an integral role in contributing to the bank’s aspirations in Asia. This year, we are accelerating our focus in seizing China opportunity, with the ambition to double its profit contribution to the group by 2024,” Benjamin Hung, chief executive, Asia, Standard Chartered, said. “We have committed a $300 million investment over the next three years into our China-related businesses and capabilities, including GBA.”
"GBA acts as an important gateway connecting China to the world. The links between GBA and the member countries under the Regional Comprehensive Economic Partnership will enhance intra-Asia connectivity and bolster a rapidly rising China-ASEAN corridor," Hung said.
In view of the strict anti-pandemic restrictions in force, the UK-listed bank held a virtual conference to mark the opening.