ZURICH (Reuters) – Standard Chartered (STAN.L ) is set to close its Swiss private bank in Geneva, broadcaster Radio Television Suisse (RTS) reported on Monday.
The Asia-focused bank said in February it was looking to sell the Swiss private bank as part of a plan to shed several businesses as it sharpens its focus on Asia, Africa and the Middle East.
RTS said on its website on Monday that Standard Chartered would close the private bank. It did not cite its sources. RTS said the roughly 40 employees affected would be given the option of moving to another part of the bank.
A spokesperson for the bank was not immediately available for comment.
(Reporting by Joshua Franklin– editing by Jason Neely)
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