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RETAIL BANKING | Cesar Tordesillas, China

StanChart to hire more in Asia

Standard Charetred Bank will continue to hire this year in Asia, according to  the Asian head of Standard Chartered Plc Jaspal Bindra.

"I think there are more opportunities to be able to attract talented people without those superfluous payments that we had to make in the past when the market was very hot," he said. "But you know, once people join, we pay for performance so it's only a one-time advantage."

StanChart, which makes more than two-thirds of its profit in Asia, added about 2,000 net new staff last year, one of the few still hiring while the bulk of the industry shrinks.

"If you saw what was happening in 2010 and the first half of 2011, you may have noticed that European banks were really bulking up in Asia," he said. "It's not that they've lost their faith in Asia, but now the challenge for them is to shore up their balance sheets."

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