StanChart mulls launching private bank in China

It would compete with Goldman and UBS.

British bank Standard Chartered PLC (STAN.L) will consider next year whether it should start an onshore private bank in China, as the world's second-biggest economy continues to open up, a senior executive said on Tuesday.

"In 2017, we'll look at it again, see what the market looks like and how are we executing on other priorities and then decide," Anna Marrs, Standard Chartered's global head of commercial and private banking client segments, told the Reuters Global Wealth Management Summit in Singapore.

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