☰ Menu eFinancialCareers

Is Standard Chartered the new Goldman Sachs?

Following the warm reception to yesterday’s suggestion that HSBC might have Goldmanite qualities due to its ability to turn a global markets profit in a down market, it seems only reasonable to apply the same logic to Standard Chartered.

In common with HSBC, Stan Chart is a British bank which has most of activities overseas. And in common with HSBC its wholesale banking group pulled a profit in 2008.

According to its results published today, operating income at Stan Chart’s wholesale banking group actually rose 42% last year to $7.5bn. And financial markets operating income rose 78% to $2.4bn.

Standard Chartered is obviously a flea to Goldman’s woolly mammoth – GS made $11bn in operating profits last year. Nor is STAN known for prolific payouts to employees or a wonderful working culture.

However, the report makes some encouraging noises about headcount, which few other banks were in a position to make for 2008. In wholesale banking it trumpets investment in ‘skills and expertise’ in ‘areas such as sales, trading and financial institutions teams.’

Comments (33)

  1. Is Goldman Sachs the new Goldman Sachs?

  2. Is David Brent the new Lloyd Blankfein?

  3. Is Ethiopia the new Dubai?

    Is black the new purple?

    Is Halifax Comprehensive the new Eton?

    Is Plymouth the new Oxbridge?

    Is Operations the new Front Office?

    Is Commerzbank the new Deutsche?

    Is Woeful Inferiority the new Cool?

  4. Are you implying through analogy that black is woefully inferior to white?

  5. Come on Henry?

  6. Seriously, who hired this lot here?

    GS has a reputation for being a GS because of its history both in the world of Inv banking and the reputation of its alumni who have occupied various positions across both Corporate America and the government.

    Same can’t be said for either HSBC or Stan Chartered.

    Above all, GS was the pioneer for the White Knight strategy. What exactly did HSBC pioneer except for an empire that is highly inefficient.

    Seriously, if it wasn’t for your jounralists, confidence would be much better out there.

    You would talk down pretty much anything, as if the world is about to explode tonight!!

  7. Is Henry the new Oprah Winfrey

    Is Henry the new Jerry Springer

    Is Henry the new Obama for Investment Banking

    Is Henry the new James Bond

    Is Henry the new Gordon Gekko

    Is Henry the new Henry Kravis

    Is Henry the new Warren Buffett

    Is Henry the new King Arthur

  8. @Brownman – why do you read the articles then? If you tink everything on the site is so bad – go look at HITC News – their stories are 3 days behind blogs such as FT Alphaville. At least efinancial is trying to create original, thought (comment) provoking reasoning (often decending into slanging matches like this). Dont you have a job to do?

  9. Is Henry the new Adolf?

  10. henry gets his kicks by trying to be controversial, he needs to be whipped

    higherupatHSBC Reply
  11. higherupatHSBC, you realise being higher up at HSBC probably puts you on the same paypacket as an analyst somewhere decent?

  12. Why are ppl attacking Henry?? Is it because he speaks the truth and most ppl can’t handle the truth.
    So here it is – Neither HSBC or Stan Chart are the new GS. They don’t have the entrepeneurial culture nor kick a*s attitude needed to succeed

  13. Is Henry the new Michael Jackson?
    Is Henry the new Josef Fritzl?

    merchant banker Reply
  14. I’m better than everybody.
    Some people find me arrogant. Don’t like that? Leave. I don’t need you anyway. I have enough people desperately seeking my attention. Oh, but my massive popularity is no accident. I studied social psychology and human behavior for years to alter my personality and become a master of social manipulation and human interaction.

    Now I’m the person everybody tries to impress and wants to be seen with. I have legions of friends wherever I go. People give me practically whatever I please and it’s all so easy for me. Half of the time, I don’t even have anything valuable to say, but people still just can’t get enough of me. And while jealous losers can’t stand me, everyone else thinks I’m the greatest thing in the world – and they’re right, I am.

    Source: thepopularlife.com

  15. Henry is just a young man with an extreme inferiority complex, and only thing that makes him feel good about himself is to put other people down. Tragically he will never feel satisfied or good about him since there will always be someone more successful than him…..the cure is therapy… and lots of it

  16. I feel great Freud. I don’t need to be the very best, just in the top cohort – which I always have and always will be. I’m good at putting things into perspective unlike others I know who indeed get angry if they hear of someone else who’s a multi-millionaire etc. I don’t care, a high healthy 6 figures a year for now will do nicely.

  17. A semi-humble statement by Henry….but unfortunately a false one… you won’t fool anyone but yourself….my humble advice to you is to use your money and find yourself a good therapist…..and I wish you all the best in your life

  18. Were Henry’s parents very poor?
    Maybe he has a few siblings who are crackheads…

    distressed securities investor Reply
  19. Henry has admittedly done well for himself. He has been hatched from an egg shell of poverty, destitution and failure into Oxbridge and Investment Banking. Congrats you’re now in the Big League, but don’t forget your humble and wretched beginnings.

  20. Henry is a wannabe, probably spends his working day in a sweaty back office reconciling trades. let’s face it the more succesful you are the less you need to show it. can’t believe you guys take him for real…………….

    bottega veneta handbag Reply
  21. or humble and wretched future…

    didn’t anyone tell you? banking is the new public service!

  22. Henry, boy it’s time to change your name here. You’re under fire li’l boy…
    and taking some nasty casualties…

    texas energy banker Reply
  23. your mum is the new goldman sachs

  24. Is Henry the new laid-off RBS banker?

  25. No – he’s an employee at Cottage Fried Chicken

  26. Is Goldmans really as great as its being made out to be??? Have any of you ever worked there?

  27. I think Henry is really hot

  28. Is Henry a juvenile with erectile dysfunction?
    All this in favour say aye………..

  29. Henry is fabulous….totally makes efinancial worth reading….

  30. Not needing bailed out by the Government is the new killing it. Making a profit is the new Master of the Universe.

  31. StanChart is the equivalent of a post office. Let’s be serious here.
    Shall we talk about salary, bonus, quality of people at StanChart?

    Life is challenge, life is excitement, not doing a post office job. Better to belly up to be number 1 than spending a life in a gray bank.

    Profits in the BB will come back again and nobody will talk about post-office banks again.

  32. Does any one of you work for either Stan Chart or Goldman Sachs? It’s wizz-kid idiots like some people on this blog that screwed up the system by talking rubbish about things you don’t have a clue about.
    Same people that said “oil should be $200”, same people that said subprime CMBOs are AAA rated, same people who are now begging for change from governments and sovereign funds.
    Standard Chartered made money when noone else did without begging. And they are growing faster than any beast out there. GS is trying to be the new HSBC / Stan Chart by asking for license to accept deposits like they do.

    That doesn’t look like a post office bank to me.

    And Henry, grow up. You’re probably a fresh analyst out of some mickey mouse university your parents put you through.

    Who’s this kid Henry? Reply
  33. who cares….jeez

The comment is under moderation. It will appear shortly.


Screen Name


Consult our community guidelines here