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Stan Chart is great, if you want your whole career to be in Asia. JPM gives you better opportunities to work in Western markets. Read all comments »
In the battle to become Asia’s best bank, J.P Morgan and Standard Chartered are emerging from the rubble as clear favourites.
But which firm would you rather work for? The global powerhouse or the Asian champion?
J.P.Morgan recently topped The Banker magazine’s annual list of the strongest 1,000 international banks, moving up from fourth place a year earlier.
The rankings, which have run since the 1970s, are based on capital strength, or the amount of Tier 1 capital held. J.P.Morgan was helped by its takeover of Bear Stearns and Washington Mutual.
Standard Chartered, unlike British rivals RBS and Lloyds, hasn’t needed a government bailout, and raised US$1.8bn from investors last year to increase capital and increase its buffer against bad loans.
And although its workforce is 2,500 people lighter than late last year, it is hiring again in Singapore and Hong Kong. Recent results show that these two centres performed particularly well for Stan Chart’s wholesale banking unit.
Which bank is performing better in your mind? And which is the best place to build your career? Let us know below.
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