Bloomberg News

Standard Chartered CEO: Ring-Fencing Makes Failure More Likely

December 14, 2011

Dec. 14 (Bloomberg) -- Standard Chartered Plc’s Chief Executive Officer Peter Sands said the Independent Commission on Banking’s proposal on ringfencing makes the “probability of failure” more likely for the retail unit within the fence because it will be less diversified.

The proposal will make the resolution of a failed lender easier, he told a House of Commons committee today.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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