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International Business Times
International Business Times
Business
Ann Resuma

StanChart Cuts 20 Jobs In Revamp Of M&A Team

StanChart Standard Chartered
Standard Chartered folding industries team into M&A (Credit: Standard Chartered Company Website)

Standard Chartered is expected to cut around 20 jobs globally as it has decided to club its industries coverage team into its mergers and acquisitions advisory team, a source who has direct knowledge on the subject matter has revealed to Reuters.

The move of StanChart started Friday, according to Reuters. The source said that it also doubled the M&A team to more than 100 bankers. Since the details of the move have not been made public yet, the source refused to be named.

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