mr funny
25-01-11, 19:52
http://www.straitstimes.com/Money/Story/STIStory_626947.html
Jan 22, 2011
Stanchart now anchored at MBFC
Large offices show scale of its commitment to S'pore
By Francis Chan , COMPANIES CORRESPONDENT
BRITISH banking giant Standard Chartered Bank (Stanchart) has officially opened its new premises at the Marina Bay Financial Centre (MBFC) in Singapore's New Downtown.
The bank has secured 513,000 sq ft of office space spanning 24 floors at Tower 1 of the centre.
The space will house the largest trading facility in Asia. Taking up 65,000 sq ft, it is twice as large as the trading floor at the bank's old Battery Road premises.
Stanchart's offices at the 29-storey tower are also the largest in its global network of operations, said group chief executive Peter Sands, who was in town for the official opening yesterday.
'What you're seeing here... is the scale of commitment that we're making to being part of Singapore's development as a leading Asia financial centre,' he said.
Finance Minister Tharman Shanmugaratnam, who was a guest of honour at the opening, said Stanchart's move into the MBFC was timely given the upswing in Asia.
'The economic story is well-known,' said Mr Tharman. 'No matter how you look at it, whichever indicator, whichever trend, you know that Asian economies are on the upsurge and the largest increment to global demand.'
He said the financial industry which had in some ways been 'a laggard historically in Asia is catching up quickly'.
'So whichever segment you look at, you'll see Asian finance now growing very rapidly,' he said.
Mr Sands agreed and said 'multiple functions of the financial services sector are growing'.
'The world is experiencing a fundamental rebalancing, with Asia being the main driver of global growth, trade and investment,' he said.
'Singapore is a vibrant and extraordinarily successful city, a gateway to Asia, strategically placed at the heart of this new economic super-cycle. Our investment in this new office building reinforces our long-term commitment to our clients and to Singapore.'
Stanchart employs more than 6,000 people here, and at least 4,000 of them - mostly front-end staff - will be working out of the new premises at Tower 1. Backroom staff in areas such as human resources and technology are now based at a 225,000 sq ft centre in Changi Business Park.
The bank's new trading room seats 790, making it Asia's largest in terms of the trading positions it can house.
Stanchart's regional chief for Singapore and South-east Asia, Mr Ray Ferguson, reiterated yesterday that the bank plans to hire 2,000 more staff for its operations in Singapore by the end of 2012.
He pointed to the doubling of capacity for its traders here with the new MBFC trading facility as one example of its plans to deepen its roots here while growing mainly in emerging markets.
'That capacity is there because the demand is growing massively,' he said.
Stanchart has also opened its first 'next generation' retail branch at the MBFC, which sits on a 3.55ha site.
Mr Ferguson said the new branch offers retail banking clients 'smart' banking and technology features, which include Wi-Fi and access to customer service consultants and advisers via virtual conferencing.
[email protected]
Jan 22, 2011
Stanchart now anchored at MBFC
Large offices show scale of its commitment to S'pore
By Francis Chan , COMPANIES CORRESPONDENT
BRITISH banking giant Standard Chartered Bank (Stanchart) has officially opened its new premises at the Marina Bay Financial Centre (MBFC) in Singapore's New Downtown.
The bank has secured 513,000 sq ft of office space spanning 24 floors at Tower 1 of the centre.
The space will house the largest trading facility in Asia. Taking up 65,000 sq ft, it is twice as large as the trading floor at the bank's old Battery Road premises.
Stanchart's offices at the 29-storey tower are also the largest in its global network of operations, said group chief executive Peter Sands, who was in town for the official opening yesterday.
'What you're seeing here... is the scale of commitment that we're making to being part of Singapore's development as a leading Asia financial centre,' he said.
Finance Minister Tharman Shanmugaratnam, who was a guest of honour at the opening, said Stanchart's move into the MBFC was timely given the upswing in Asia.
'The economic story is well-known,' said Mr Tharman. 'No matter how you look at it, whichever indicator, whichever trend, you know that Asian economies are on the upsurge and the largest increment to global demand.'
He said the financial industry which had in some ways been 'a laggard historically in Asia is catching up quickly'.
'So whichever segment you look at, you'll see Asian finance now growing very rapidly,' he said.
Mr Sands agreed and said 'multiple functions of the financial services sector are growing'.
'The world is experiencing a fundamental rebalancing, with Asia being the main driver of global growth, trade and investment,' he said.
'Singapore is a vibrant and extraordinarily successful city, a gateway to Asia, strategically placed at the heart of this new economic super-cycle. Our investment in this new office building reinforces our long-term commitment to our clients and to Singapore.'
Stanchart employs more than 6,000 people here, and at least 4,000 of them - mostly front-end staff - will be working out of the new premises at Tower 1. Backroom staff in areas such as human resources and technology are now based at a 225,000 sq ft centre in Changi Business Park.
The bank's new trading room seats 790, making it Asia's largest in terms of the trading positions it can house.
Stanchart's regional chief for Singapore and South-east Asia, Mr Ray Ferguson, reiterated yesterday that the bank plans to hire 2,000 more staff for its operations in Singapore by the end of 2012.
He pointed to the doubling of capacity for its traders here with the new MBFC trading facility as one example of its plans to deepen its roots here while growing mainly in emerging markets.
'That capacity is there because the demand is growing massively,' he said.
Stanchart has also opened its first 'next generation' retail branch at the MBFC, which sits on a 3.55ha site.
Mr Ferguson said the new branch offers retail banking clients 'smart' banking and technology features, which include Wi-Fi and access to customer service consultants and advisers via virtual conferencing.
[email protected]