Love and Relationships

This is a key focus for the Group and in which it continues to invest heavily, increasing Legal & Compliance staff by just over 50 per cent and more than doubling headcount in Financial Crime Compliance (FCC) since 2013. The Group also brought in more than a dozen highly skilled people into FCC leadership roles and will continue to add resources in this area in 2015. The Financial Crime Risk Mitigation Programme, which encompasses over 50 separate projects and initiatives, was launched to remediate and reinforce controls and capabilities in this vital arena. Playing a stronger role in the fight against financial crime is a strategic imperative for Standard Chartered. To reinforce governance of these efforts, the Group established a Board-level Financial Crime Risk Committee, with a combination of experienced NEDs and expert advisors. Commenting on these results, Group Chief Executive of Standard Chartered Peter Sands, said: “2014 was tough year and our performance was disappointing. We are taking action in response - sharpening the strategy, reconfiguring the organisation, cutting costs and redeploying capital. By executing on this agenda, we are confident that we can return to a trajectory of sustainable, profitable growth, delivering returns above our costs of capital.” 2014 was challenging year in which the Group has embedded a new organisation structure, exited a number of non-core businesses, and developed a new set of financial priorities underpinned by real actions. 2015 will be about accelerating these management actions and executing the plans for the four client segments.

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