StanChart Cutting About 20 Jobs in Revamp of Lender’s M&A Team

Standard Chartered Plc is cutting about 20 jobs across places like London and Singapore as the lender restructures its mergers and acquisitions team by absorbing bankers focused on industry coverage, according to people with knowledge of the matter.

The London-headquartered bank is also redeploying some of its industry expertise into financing teams or coverage, the people said, asking not to be named as the information is confidential. The aim is to provide more M&A capability as well as reduce overlaps, they said.