StanChart axes equities business, retail jobs

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Bankers in Standard Chartered’s equities division in Hong Kong arrived on Thursday to find they were locked out of the office, while some in Singapore were escorted from their workplaces.

“We came in this morning and were told the equity business was being shut down,” a woman who identified herself as an ex-employee at the bank’s offices in Singapore’s business district told Reuters.

She said she had worked in research and had been with the bank for three years.

Source: www.cnbc.com

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