(April 28): Standard Chartered Plc is weighing options to downsize its office space in what could become the biggest floor cuts by a bank in Singapore in recent years, according to people familiar with the matter.
The London-based bank is weighing options that would see it give up some of the 21 floors it leases at Marina Bay Financial Tower 1 in the business district, according to people familiar, who requested not to be named because the matter is private. An option for the bank is to cut a minimum of four floors the equivalent of about 80,000 square feet one of the people said. The plans are under discussion and subject to change, the people said.
Standard Chartered Plc is weighing options to downsize its office space in what could become the biggest floor cuts by a bank in Singapore in recent years, according to people familiar with the matter.
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Apr 23, 2021
News of the blowup spread through financial circles in Tokyo to the pulse of a familiar refrain: “Not again.”
Nomura Holdings Inc. had run into trouble far from home, this time, with the giant implosion of Archegos Capital Management in New York. Few institutions have been as humbled by the Archegos debacle as Nomura, the forever-striving giant of Japanese finance.
The question now is how, or perhaps whether, Nomura can shake off this latest blow and press on with its global ambitions. Analysts wonder if heads will roll over the Archegos losses or if Nomura will quit certain businesses.