Standard Chartered Bank

Standard Chartered Bank, which had intended to list in Hong Kong on October 18 last year but delayed its plans after the September 11 attacks in the United States, hoped to carry out the launch as soon as possible, the bank's chief executive in Hong Kong Peter Wong (above) said yesterday.

Standard Chartered was proceeding with its listing plans, he said, but could not give a definite time frame for the launch.

Mr Wong said Standard Chartered had shed about 500 jobs in Hong Kong last year, part of its corporate restructuring plan outlined in 2000 to cut 6,000 positions worldwide. Of the 500 Hong Kong losses, just 40 to 50 were permanent lay-offs. Most had involved early retirements or employees being retrained and relocated.