Standard Chartered Bank broke out the lobster tails and caviar at a recent cocktail party it threw for executive search firms at its Hong Kong office. The bank, which is beefing up its interest-rate derivatives operation in Asia (see story, page 4), wheeled out Peter Wong, chief executive-Hong Kong, to set out its corporate strategy, according to several headhunters who attended. "Very enjoyable," said one, "except no alcohol, which was disappointing." Wong was on vacation and could not be reached. A company spokeswoman declined comment.
The shindig, which drew some 50 headhunters, comes as StanChart tries to raise its profile as a world-class firm, according to the recruiter. The firm is trying to absorb the consumer banking division of the former Chase Manhattan, which it recently acquired, and is trying to stave off competition from local players.
Another headhunter who attended the event said the underlying message was: don't poach from us.