Standard Chartered Plc started its first brokerage business in Japan with 100 employees as institutional investors seek products from emerging markets in Asia, the Middle East and Africa for better returns.
The U.K. bank will deploy 20 salesmen to meet with Japanese life insurers, brokerages, banks and asset managers to sell products that invest in developing countries with potential for fast economic growth, said Taisei Takegami, president of Standard Chartered Securities (Japan) Ltd.
All of the people in the unit already work for Standard Chartered's corporate banking arm in Japan and will perform dual roles, he said.