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May 27, 2024

Standard Chartered to operate global services hub in the Philippines

Standard Chartered Bank announced its plans to open a global business services hub in the Philippines during the Philippine Economic Briefing in London.

Saif Malik, head of Global Subsidiaries and Client Coverage UK at Standard Chartered Bank, said the bank’s fifth Global Business Services (GBS) hub will be opened in the Philippines soon.

The bank official said that its two centers in India employ nearly 20,000 people, while its Malaysia site has about 10,000 employees. It also operates a GBS hub in China.

Malik adds that the Philippines is becoming a top investment destination, with the country being on “everyone’s agenda.”

The GBS is the multi-disciplinary global competency organization within Standard Chartered overseeing complex and large-scale cross-border activities. It supports the seamless delivery of products and services to the bank’s clients by providing operational and technology services.

Established in 1872, Standard Chartered Bank is the first international bank in the Philippines.