Although Standard Chartered has formally denied either having or having had discussions with suitors, and says it is under no pressure from shareholders to do so, the potential buyers named so far would have a limited interest in retaining the Standard Chartered custody network. Both Lloyds TSB and Barclays (except in Africa) have exited the custody business, and AIG was never in it. It would make little sense for HSBC to replicate its successful Asian custody network. Which means that the likeliest buyer would be Deutsche Bank, currently the third force in Asia.
What Future for Standard Chartered’s Custody Network
Although Standard Chartered has formally denied either having or having had discussions with suitors, and says it is under no pressure from shareholders to do so, the potential buyers named so far would have a limited interest in retaining the