Standard Chartered is reportedly planning to reestablish a private banking operation in Switzerland, as part of its efforts to enhance its offerings for wealthy customers.
The British lender is planning to reopen an office in Geneva by 2027 at the earliest, reported Bloomberg, citing people familiar with the matter.
This news follows the bank’s winding down of its Swiss private banking arm about a decade ago after it failed to find a buyer for the business.
At the time, Standard Chartered underwent a restructuring, which focused on offloading non-core activities and expanding in Asia, the Middle East and Africa.
The bank has since identified its wealth business as central to boost returns and set a target in December last year to secure $200bn from wealth clients over five years.
Its wealth division onboarded 67,000 clients to its platform in the third quarter of 2025 and generated $2.41bn in revenue in the first nine months, a 25% increase on the same period last year, the report said.
In a separate development, Standard Chartered has been selected as the principal banking partner for DCS Card Centre, a credit card designed to enable stablecoin spending in the real world.
Under the agreement, Standard Chartered will provide transaction banking and financial markets services to support DeCard’s user base in Singapore.
The bank will provide services such as cardholder top-up processing, account management, and fiat and stablecoin settlements.
It will manage the card’s treasury, liquidity and foreign exchange hedging through its Financial Markets capabilities.
This collaboration initially covers Singapore, with plans for expansion to other markets.
In addition, Standard Chartered has appointed Jim Wang as chief executive officer (CEO) of its China Securities unit, reported Reuters, citing two sources.
Wang has over two decades of experience across securities, asset management and banking and has held senior management roles at multiple institutions.
He is replacing Grace Geng, who left the firm in July after a 16-month tenure.
