Standard Chartered Bank plans to recruit up to 4,000 staff in Southeast Asia over the next two years, reports the Financial Times.
Ray Ferguson, chief executive for Southeast Asia told the Financial Times that the hiring reflects the UK-based bank's strong confidence in the region's recovery and economic prospects.
Ferguson told the newspaper that the bank had no plans to spend the proceeds of a $5.3 billion rights issue on a significant acquisition in Asia. He said the bank was not looking for any "transformational transactions" in Southeast Asia, but it could look to buy small businesses specialising in sectors or products that would add to its operations. The bank has acquired several small businesses in Singapore over the past years.
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