StanChart Lays Out Plan for 18% Return, Corporate Job Cuts

By Sherry Qin

Standard Chartered is targeting an 18% return on tangible equity by 2030 and plans to cut corporate-function roles as the lender seeks improved efficiency.

The London-based bank raised its medium-term goal--to more than 15% return on tangible equity by 2028, and about 18% by 2030--after achieving its 2026 medium-term financial targets a year earlier than expected, chief executive Bill Winters said Tuesday.

"We are scaling practical uses of automation, advanced analytics and artificial intelligence to streamline processes, improve decision-making and enhance both client service and internal efficiency," Winters said in a statement.

The bank also plans to raise "income per employee" by 20% by 2028, aided by over 15% reduction in corporate roles by 2030 and to increase the dividend payout ratio to 30% or more.

Jefferies finds the latest targets as "conservatively struck" and projects mid-teens earnings-per-share growth.

StanChart's revised growth target come a day after the bank appointed Manus Costello as group chief financial officer. Costello's appointment comes months after the surprise departure of Diego De Giorgi, who was widely seen as a front-runner to succeed the bank's longtime chief executive.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

May 18, 2026 21:26 ET (01:26 GMT)