Standard Chartered Sets Up Financial Technology Investment Unit
January 17 2018 - 7:07AM
Dow Jones News
By Adam Clark
Standard Chartered PLC (STAN.LN) said on Wednesday that it has
established a new business unit to invest in financial technology
and other startup companies.
The emerging-markets focused bank said the new unit is called SC
Ventures and will be led by Alex Manson, formerly Standard
Chartered's head of transaction banking. Mr. Manson will report to
Chief Information Officer Michael Gorriz.
In addition to investments, the unit will also lead internal
consultation on digital technology and oversee Standard Chartered's
own technology ventures.
Standard Chartered said it has made previous investments in
payment technology company Ripple and data software company
Paxata.
Shares were unchanged at 817.40 pence at 1129 GMT.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
January 17, 2018 06:52 ET (11:52 GMT)
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