New standard chartered chief executive Bill Winters has unveiled a plan to simplify the bank's structure and organise teams on geographic and business lines ahead of wider proposals "to address the future performance of the group" expected before the end of the year. The Asian-focused bank said the moves, which would see the geographical reporting entities reduced to just four regions and the business lines to three broad areas, would "reduce costs and bureaucracy and speed up decision making". StanChart has already set out plans to reduce costs by US$1.8bn annually before end-2017.
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