Standard Chartered Receives Authorization to Begin Investment Banking Operations in Brazil
São Paulo, April 20, 2010
Standard Chartered announced today that the Brazilian Central Bank has given Standard Chartered Brazil final authorization for the Bank to begin investment banking operations from its branch in Sao Paulo.
Brazil is of growing importance to the Bank due to its vibrant economy and its increasing economic ties with the Bank’s core markets in Asia, Africa and the Middle East. The license will allow the international bank to strengthen support for both its clients in Brazil and those clients based in its footprint markets who are trading and/or investing between Brazil and those markets.
“With Standard Chartered’s extensive international footprint, expanding our ability to serve clients in Brazil doing business with our core markets was a natural step”, said Airton Villafranca, CEO Brazil. “We are thrilled to have been granted the final approval and that we will now be able to offer new products to our customer base”.
The Brazil investment banking license allows Standard Chartered to offer the following products and services:
- On-shore presence in the local FX and interest rate markets
- BRL denominated products on-shore at the local exchanges
- OTC derivatives and cash instruments to local clients
- Local capital markets origination and underwriting
Over the next few weeks the bank will register with municipal, state and tax authorities and conclude operations testing.
Headquartered in London and present in more than 70 countries, Standard Chartered will continue to offer International Cash Management, Trade Services, Project and Export Finance, Syndicated deals, Securitization as well as Foreign Exchange and Derivatives of Rates and FX services in Brazil.
Standard Chartered has maintained a continuous presence in Brazil as a representative office for over 35 years and maintains one of the largest representative offices in the country.
For further information please contact:
Corporate Affairs, Brazil
Phone: +55 11 2789 6882
Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is a leading international bank, listed on the London and Hong Kong stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years.
With 1700 offices in 70 markets, Standard Chartered offers exciting and challenging international career opportunities for its 75,000 staff. It is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. The Bank’s heritage and values are expressed in its brand promise, ‘Here for good’.
For more information on Standard Chartered, please visit: www.standardchartered.com.
Standard Chartered, Americas
Standard Chartered Bank operates in 11 markets in the Americas region, including the U.S., Canada, Mexico, the Caribbean, and, in Latin America, Argentina, Brazil, Chile, Colombia, Peru, Uruguay and Venezuela.
Standard Chartered has both a Wholesale Bank and a Private Bank in the Americas. The Wholesale Bank provides financial products and services to corporations, financial institutions and development organizations in the Americas. Key products include trade finance services, cash management, treasury, foreign exchange and interest rate products, commodity finance, and structured import and export finance services. Its primary function is to facilitate trade and investment flows between the Americas and the Group’s core geographies of Asia, Africa and the Middle East. The Standard Chartered Private Bank in Miami services clients based primarily in Latin America. It maintains an advisory center in Miami and client offices in Uruguay and Chile.
For more information, please visit: www.standardchartered.com.