Standard Chartered announces it has completed the legal amalgamation and the re-branding of Amex International Trust (Cayman) Ltd., following its acquisition of American Express Bank earlier this year.
The company says the acquisition of AEB provides it with an opportunity to add capability, scale and momentum in the strategically important financial institutions and private banking businesses.
The acquisition adds 19 more markets to the Standard Chartered footprint, while deepening its presence in some core markets and providing access to several new growth markets.
From 1 August, Amex International Trust (Cayman) Ltd.. will be named Standard Chartered Trust (Cayman) Limited
Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock Exchange and ranks among the top 25 companies in the FTSE-100 by market capitalisation.
The London-headquartered group has operated for more 150 years in some of the world’s most dynamic markets, including 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.
The group employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. It derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from wholesale and consumer banking.