Acquisition

RNS Number : 7940H

Standard Chartered PLC

10 November 2008

 



Standard Chartered PLC - Acquisition

Monday, 10 November 2008

Standard Chartered to acquire Lehman Brothers team in Brazil 

Deal provides additional capability to support clients from Asia, Africa and the Middle East 

Standard Chartered PLC announces that its local subsidiary in Brazil has entered into an agreement to acquire a specialist team and some fixed assets from Lehman Brothers Brazil. The acquisition will be completed by end of November 2008, subject to certain regulatory approvals.

The transaction adds 14 staff to Standard Chartered's Brazil operations with specific 
capability in Financial Markets to support clients from footprint markets in Asia, Africa and 
the Middle East doing business with Brazil. 

Gareth Bullock, Group Executive Director, Standard Chartered, said: 'I am delighted to 
welcome the new team. Brazil has become an important trading partner with our core 
markets in Asia, Africa and the Middle East with trade flows from Asia in particular having 
increased significantly in recent years. This deal enhances our capability to take advantage 
of new opportunities in a dynamic market.' 

Standard Chartered currently has a representative office with 28 staff members in Brazil. 

As at 31 August 2008, the gross assets of the underlying business acquired were 
approximately USD 4.3 million.

  For further details please contact:

Standard Chartered

Stephen Atkinson, Head of Investor Relations

Tel: [phone]

[e-mail]

Arijit De, Head of Media Relations

Tel: [phone]

[e-mail]

Notes to Editors

Standard Chartered - leading the way in Asia, Africa and the Middle East

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 for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, 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. It employs 75,000 people, nearly half of whom are women. The Group's employees are of 115 nationalities, of which 60 are represented among senior management.

For more information, please visit: www.standardchartered.com.

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