Standard Chartered launches Africa equities business

Standard Chartered will build an Africa equities business, Stephen Priestley, co-head of Africa wholesale banking, has told Euromoney.

Standard Chartered has traditionally been inactive in global equities capital markets but that has begun to change in Asia with its acquisition of Cazenove Asia two years ago. Standard Chartered will look to replicate this in Africa, a continent that looks ever more attractive to global banks.

Standard Chartered has already tripled its corporate finance revenue in Africa annually since its acquisition of Johannesburg M&A boutique First Africa in 2009, according to Priestly.