At this moment, Australia, ANZ headquarters, held a brief board meeting!

ANZ Bank is one of the four largest banks in Australia and ranked in the top 50 globally, with a history dating back more than 150 years and headquartered in Melbourne.

One of their currency hedge funds held millions of short positions in AUD/USD was blown out due to the RBA's policy, causing ANZ to lose $7.5 billion on AUD/USD, half of which was their own assets!

Some time ago, Standard Chartered Bank, a subsidiary of Standard Chartered Group, proposed to acquire their wealth management and retail banking businesses in Singapore and other markets.

John McFarlane, the CEO of ANZ at the time, was adamantly against it!

But someone on the board proposed to sell part of the business in Asia, so now John McFarlane has to come back to the topic of acquisitions again!

The Board of Directors soon passed the resolution.

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As a result, at noon in Singapore, Standard Chartered Group announced that it would acquire ANZ's wealth management and retail banking business in Singapore, buildings (including the Mainland, Heung Kong and Taiwan Bend) and Indonesia with a book value of about S$50 million.

The acquired businesses consisted of S$17 billion in deposits, S$11 billion in loans, approximately S$6.5 billion in customer investment assets under management (AUM) and approximately S$300 million in full-year revenue in FY2013. ANZ's acquired business currently serves nearly 1.3 million customers, including more than 100,000 wealth management and private banking customers and 1.2 million retail banking customers.

According to Standard Chartered, the strategic significance of this acquisition includes: further strengthening Standard Chartered's position as a leading wealth management institution in Asia, expanding the scale of Standard Chartered's business in Indonesia, which will accelerate the development of digital finance, and creating greater value - it is expected to start to achieve return on equity and earnings growth one year after the completion of the transaction.

Over the past five years, DBS Bank (which has merged with Standard Chartered) has been expanding its wealth management business and has become one of the top five private banks in Asia. Through this acquisition, Standard Chartered Group will further increase its total assets under management by approximately S$23 billion, including S$6 billion in assets under management for high-net-worth customers, further boosting the total assets under management of Standard Chartered Group's wealth management business.

"Standard Chartered Group has extensive experience in M&A and integrated retail and wealth management businesses in Asia, including successfully taking over the retail and commercial banking business of RBS in 2010. This acquisition will further strengthen Standard Chartered's advantages in the field of wealth management and create greater value for new and existing customers. ”

David Hisco, President of ANZ New Zealand, said: "With many years of experience in Asia and a strong network of retail banking and wealth management, it was important for us to find a buyer who could better serve our clients. Standard Chartered's key strengths are that it is a strong bank from Singapore, with a strong presence in the Asian market, a strong Asian presence and deep pockets, which make Standard Chartered the best choice for us. With this acquisition, our clients will have access to new opportunities at the highly motivated and dynamic Standard Chartered Bank, while the majority of our employees in Asia will also have access to a wider range of career development opportunities. ”

At the press conference, the reporter asked: Since the successful acquisition of the retail and SME business of the Royal Bank of Scotland (RBS) in the building area in 2010, Standard Chartered Group has not stopped in the pace of interbank mergers and acquisitions. Why is Standard Chartered doing the opposite when other foreign banks are gradually withdrawing from the building and even the Asia-Pacific market?

A spokesperson for Standard Chartered said: Targeting the Asian market positioning, through the acquisition of ANZ's wealth management and retail banking businesses in five markets, Standard Chartered Bank, a subsidiary of Standard Chartered Group, will increase its total assets under management by approximately S$23 billion, of which the total assets under management of high-net-worth customers will increase by S$6 billion.

In fact, since the outbreak of the financial crisis in 2008, as the market ushered in a wave of asset mergers and acquisitions, at that time (DBS Bank, which merged with Standard Chartered Bank not long ago) began to snap up assets in the market, but in 2009, due to price negotiations, Standard Chartered Bank finally gave up the acquisition of ING's Asian private banking business. However, the following year, Standard Chartered Bank received nearly 25,000 RBS customers in Lushi, Kyoto and Shenzhen, as well as 900 million US dollars in wealth management products and deposits, without spending a penny.

Interestingly, Standard Chartered's operations in six countries and regions, namely Singapore, Mansion's Terrace, Indonesia, Mansion's Hong Kong, the Philippines and Vietnam, were finally won by ANZ Bank for US$550 million. Now, ANZ's wealth management and retail banking businesses in Singapore, Mansions Hong Kong, Mansions Mainland, Mansions Terrace and Indonesia have all fallen under Standard Chartered.

"The financial crisis has led to a strategic realignment of large international banks, which tend to opt for their home markets and longer-running markets in Europe and the United States, and exit the Asia-Pacific market. This is precisely the opportunity for Standard Chartered Bank. A foreign banking insider told the International Finance News, "In the Standard Chartered Group, the private bank that originally belonged to DBS Bank is itself positioned in the Asian market, and the acquisition of these assets is in line with its market positioning." Moreover, the quality of the assets sold by ANZ and RBS is good, as long as the price is right, it is indeed attractive. ”

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Temasek Building, at this moment, Chen Hui sat in his boss's chair, and said to his assistants: "Good job!", after thinking about it, Chen Hui asked again: "Is there still no news from Societe Generale?"

Some time ago, Standard Chartered Bank proposed to ANZ Bank and Societe Generale Bank early to acquire the Asian private banking business, but did not get a response, this time ANZ Bank lost a lot of money in the Australian dollar / US dollar, and the performance of the Asian private banking business is not doing well, this time it is also a desired acquisition.

However, Chen Hui is still more interested in Société Générale's private banking business in Asia, because the number of customers is relatively large and the scale of assets is also large!

Private banking is a financial institution that provides property investment and management (not limited to individuals) and other services for high-net-worth individuals, and the target customers of private banking are private customers with wealthy assets or high incomes. The financial assets of private banking customers are generally more than 1 million US dollars, which is much higher than the threshold of VIP wealth management business of foreign banks.

Its services are very wide-ranging, including asset management services, insurance services, trust services, tax advisory and planning, estate advisory and planning, real estate consulting, etc. Each client has a dedicated wealth management team, including accountants, lawyers, wealth management and insurance advisors. Generally speaking, private banks provide clients with one-on-one dedicated relationship managers, each of whom is supported by an investment team, through which clients can manage various financial assets such as money markets, capital markets, insurance markets, fund markets, and real estate, commodities and private equity.

The requirements for opening an account are also high, and to open a private banking service, customers must have at least $1 million in liquid assets, while in general, customers deposit between $2 million and $5 million. Many billionaires with tens or even hundreds of millions of dollars often need to use more than 1 private banking service.

Chen Hui himself uses a lot of private banking services!

At present, the total assets of global private banks exceed 10 trillion US dollars!

At this time, an assistant said: "Chairman, Societe Generale said that it would give us an answer in the evening!", they had negotiated with Societe Generale a long time ago, but Societe Generale Bank was asking for a very high price, but recently I don't know why Societe Generale suddenly had the intention to sell it obviously, and they contacted them several times.

Chen Hui said: "Continue to urge him that the price can be slightly higher by 10 million US dollars!", Chen Hui recently learned that Societe Generale lost a lot of money during the previous euro guarantee period, and also lost a lot of money in the gold and silver market during the Malaysia Airlines plane incident, and was sued by customers!

Thinking of this, Chen Hui said: "Directly their highest price of 220 million US dollars, if they dislike the price is still low, let them find UBS Group and Citibank."

The assistant said, "It's the chairman!"

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In the afternoon, France, Société Générale also held a board meeting, and some time ago, Standard Chartered proposed to them Société Générale to acquire the Asian private banking business, but they did not agree, but now it seems that many people on the board of directors have opinions.

A board of directors was convened specifically for this matter!

UBS offered $200 million, Citibank only offered $170 million, Deutsche Bank was $150 million, and now Standard Chartered is offering $220 million!

That's $20 million higher than UBS's price!

The board of directors of Société Générale finally decided to sell to Standard Chartered!

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So on Sunday morning, Standard Chartered Group announced again that it would acquire Societe Generale's private banking business in Asia, increasing the size of Standard Chartered Group's assets by $60 billion.

Over the past five years, Standard Chartered has continued to expand its wealth management business and is already one of the top 10 private banks in Asia.

Now it has acquired part of ANZ's wealth management business in Asia, as well as Societe Generale Asia's private banking business!

The private banking assets of Standard Chartered Bank are as high as 210 billion US dollars!

Today, Standard Chartered is the No. 3 private bank in Asia!

UBS Group's private banking in Asia ranked fourth, just surpassed by Standard Chartered's private banking.

At the top of the list is HSBC!

The assets of Standard Chartered now exceed $1.1 trillion!

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UBS's Vice President of Private Banking said: "It's a shame that Société Générale sold its Asian private banking business to Standard Chartered, perhaps irresponsible to its customers.

We have already given the highest price, but Société Générale has done an extremely irresponsible thing because Standard Chartered has overcharged the price by $20 million!"

And the major media in Asia rushed to report on this incident! Basically, they were refuting and satirizing UBS Group's words about not being able to eat grapes and saying that grapes were said!

"If UBS is willing to take responsibility, why not pay $250 million?"

"$20 million is stumped by the deep-pocketed UBS Group?"

"Maybe UBS is really stumped by $20 million!"

"UBS Group is just saying these words, and the competition is nothing more than Standard Chartered!"

"Isn't UBS going to be able to come up with an extra $20 million?"

"This UBS Group obviously can't eat grapes and says that grapes are sour!"

···

Chen Hui is very satisfied with this scene, now Standard Chartered Group has continuously acquired DBS Bank, and after UOB, the capital is very sufficient!

After knowing that UBS Group offered the highest $200 million, he immediately raised the price of $20 million!

Chen Hui opened the Standard Chartered Group's stock chart and looked at it, and said secretly: "This time the expansion of Standard Chartered Group's private banking business, when the market opens on Monday, it may support the stock price of Standard Chartered Group!"

Before Standard Chartered Group fell into money laundering again, the stock price plummeted, and in one afternoon, its market value evaporated nearly $6 billion, all of which were harmed by Goldman Sachs, but fortunately, Chen Hui spent millions of dollars, and also lost nearly $10 billion in the market value of Goldman Sachs Group in those two days!

Now that Standard Chartered Group's private bank has advanced to the third place in Asia, Standard Chartered Group is still in the turmoil of money laundering, but the stock price is still out of the middle of the bull market, so the stock price will also fluctuate at a high level for a period of time, and the market value of Standard Chartered Group has fallen to around $90 billion.

Today, the market value of Standard Chartered Group is about 93 billion US dollars, but it is more difficult to break through the 100 billion US dollar mark.

Chen Hui thought of this, and hated the actions of these guys in Goldman Sachs Group more and more!

Originally, in the stock market, shareholders and investment institutions were frantically chasing the shares of Standard Chartered Group, and the market value of Standard Chartered Group was about to break through the 100 billion dollar mark.

However, by Goldman Sachs Group, Citigroup, and Mo'Geng' Chase Group, these shareholders and investment institutions have returned to their rationality from madness.

In the future, many people will stop chasing up, and many people will liquidate their stocks at a high level, resulting in the stock price of Standard Chartered Group being suppressed.

This can take up to several months.