Standard Chartered's new CEO, Bill Winters, is expected to begin reviewing the case as to whether to move the bank from London over the coming months, due to tougher regulations and the bank levy in the UK. Despite the next five years Budget announcement that the bank levy will be reduced and the fact that Standard Chartered is largely immune to the 8% surcharge on banks profits, analysts suggest that the bank may still move as shareholders baulk at having to pay an 'elevated bank levy' for last weeks.
Standard Chartered's new CEO, Bill Winters, is expected to begin reviewing the case as to whether to move the bank from London over the coming months, due to tougher regulations and the bank levy in the UK. Despite last weeks Budget announcement that the bank levy will be reduced and the fact that Standard Chartered is largely immune to the 8% surcharge on banks profits, analysts suggest that the bank may still move as shareholders baulk at having to pay an 'elevated bank levy' for the next five years.