Moving HQ to Singapore makes sense for StanChart

April 21, 2015 10:44 AM

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SINGAPORE, April 21 (Reuters) - Standard Chartered has a strong business case to move its headquarters from London to Singapore and save millions in taxes as, unlike HSBC , it doesn't have a banking network in the UK, Aberdeen Asset Management said.

"It's a far clearer business decision for Standard Chartered as really a far purer emerging market bank with no banking network in the UK, no banking network in Europe," Hugh Young, managing director of Aberdeen Asia Management Asia, told Reuters in an interview on Tuesday.

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