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StanChart to hire 1000 people

Standard-Chartered-Standard Chartered Bank is planning to hire hiring about 1000 people by 2016, according to its country CEO Zarin Daruwala. The hiring plan is in line with its efforts to build up the lucrative but competitive retail lending segment to return to growth even as it cleans up the corporate debt book. Retail is one of the bank’s strong points, but at about 20% of its loan book in India, it is still a small part, Daruwala said. According to him, the wholesale-retail mix should be brought to at least 60-40. The new staff would be mostly from rivals with experience in front-end operations to help build relationships quickly, launch new products and get new clients in areas like wealth management.

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