Standard Chartered has launched a dedicated global financial sponsors team focused on hedge funds, private equity firms, and sovereign wealth funds, marking a strategic expansion of its investment banking franchise and a push to deepen ties with alternative asset managers, according to a report by Reuters.
The London-listed bank, with a core presence across Asia, Africa, and the Middle East, confirmed the new team will be headquartered in New York, with key satellite hubs in London and Dubai. The group will initially include around 25 bankers, with further external hires planned as part of a broader initiative to diversify and grow investment banking revenues.
The financial sponsors team will report to Molly Duffy and Jerry Zhang, the bank’s global co-heads of financial institutions coverage. Duffy will lead the new unit until a global head of financial sponsors is named.
Financial clients already generate 51% of Standard Chartered’s investment banking income, according to the bank – making them a critical pillar of its business with above-average returns. The new team will enable the bank to provide more tailored coverage for LBOs, growth equity deals, fund financings, and structured credit opportunities involving financial sponsors.
