392. Coercion of the chairman of Standard Chartered Bank

Chen Hui gently touched Su Yanyan's little head, then got up and went to another room.

In the other room at this moment, George, Ou Zhihua, and John have been waiting for a long time.

"Chen, what's going on, have you dealt with those people?" said George, a little excited

"There shouldn't be any problems, the key is the Li family!" Chen Hui thought for a while and said, the Li family is different from other families, other families have been entrenched in Hong Kong for a long time, so they naturally have to tremble in front of themselves, but the Li family does not need it, but the formation of the consortium is okay without the Li family, and the Li family will have to leave sooner or later anyway. But it's good to be able to join.

"John, how are you Standard Chartered thinking about it?" Chen Hui asked with a smile, the last time he was in the office, George talked about the problem of Standard Chartered Bank.

Standard Chartered Bank is a British multinational banking and financial services company headquartered in London, United Kingdom. Standard Chartered Bank operates in more than 70 countries around the world, with more than 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and an operating network of approximately 87,000 employees.

Although Standard Chartered is headquartered in the UK, about 90% of the bank's profits come from Africa, Asia and the Middle East. Standard Chartered is the first listed company on the London Stock Exchange and a constituent of the FTSE 100 Index. In 1969, two banks, Standard Chartered Bank in India, Australia and China, and Standard Bank in British South Africa, merged to form Standard Chartered Bank.

"Mr. Chen, although Standard Chartered Bank is struggling now, is the price you gave too low," John said with a sigh.

John is the chairman of Standard Chartered Bank, which has had a lot of troubles over the years, with endless quarrels on the board of directors and internal contradictions.

But Chen Hui's offer was too low, and he still wanted to seek a reasonable offer for Standard Chartered Bank.

Back in 2012, Standard Chartered and its executives suffered a blow to their reputation for "facilitating money laundering". The New York State Department of Finance determined that Standard Chartered Bank had provided U.S. dollar settlement services to Iranian state-owned and private banks, corporations and individuals between 2001 and 2007. When processing transactions for Iranian customers, Standard Chartered deletes wire transfer payment messages and deletes or omits information about Iran through what it internally refers to as "fixing". The above materials involved about 59,000 transactions with a total value of about $250 billion. Standard Chartered's share price then suffered a series of heavy losses. Shares traded in London by Standard Chartered Bank tumbled 6.2 per cent on Monday and 16 per cent on Tuesday following charges filed by the New York State Department of Financial Services, and fell nearly 20 per cent at one point in intraday trading on Tuesday, the biggest drop in at least 24 years, with shares hitting a three-year low of £10.92. According to Thomson Reuters, Standard Chartered's market capitalization has evaporated by about $17 billion in just two days.

"John, you should also think about yourself, consider, the current board of directors of Standard Chartered Bank is now looking for a new chairman of Standard Chartered Bank, I heard that it is the former deputy governor of the Central Bank of Spain, Venus! Do you really plan to leave Standard Chartered Bank, where you have worked for so many years?" Chen Hui asked with a smile

Chen Hui's words immediately surprised John, it is true that the board of directors of Standard Chartered has been looking for a new chairman of Standard Chartered Bank, and that person is the former deputy governor of the central bank of Spain, Venus. And the last time Standard Chartered Bank encountered a money laundering crisis, all the executives almost resigned from the group.

A settlement agreement with the U.S. government resulted in a total payment of more than $700 million, but now Standard Chartered Bank is caught in a fraudulent loan of Huaxia Commodities, and the stock price of Standard Chartered Bank has fallen nearly 20% in a month. Today, Standard Chartered has a market capitalization of just over $30 billion.

"Mr. Chen, your offer is indeed low!" John continued to stick to his bottom line.

"John, now Standard Chartered Bank's pre-tax profit in the third quarter fell by 16.39%, and it also announced that it could not achieve year-on-year profit growth in the second half of the year. Standard Chartered Bank's financial report for the third quarter of this year shows that the pre-tax profit for the quarter was US$1.53 billion, a year-on-year decrease of 16%, and the loss provision for non-performing loans has almost doubled, as well as the increase in regulatory and compliance costs. Chen Hui immediately pointed out the big problems of Standard Chartered Bank today.

Chen Hui's blackshirt capital has also been frantically buying Standard Chartered Bank's shares in the market recently, and the shares of Standard Chartered Bank have been falling, and Chen Hui's blackshirt capital has been buying at a low level.

During the period when Chen Hui was trading, the traders of the black shirt capital did not have any idleness, and the Hang Seng Index fell by more than 1,000 points again, and the black shirt capital held a short position of 500,000 hands of the Hang Seng Index, with a total profit of up to 25 billion Hong Kong dollars. In addition, the Hong Kong stock market also made a profit of 5 billion Hong Kong dollars, plus the incubated small and medium-sized enterprises, some of which have also been listed, and the black shirt capital has also obtained ultra-high returns, and this time the black shirt capital has swelled again, and the net assets of the black shirt capital are nearly 80 billion Hong Kong dollars, which is also 10 billion US dollars.

This is the reason why Chen Hui designated the black shirt capital to short the Hang Seng Index, Chen Hui is also very clear about the general trend of the Hang Seng Index, very good to do the market, the black shirt capital team is now extremely high, it expands the scale so fast, and it makes money in the Hong Kong stock market quickly, but it has also suffered a lot of lawsuits recently, fortunately, Chen Hui's legal team has been strong, and he has not suffered much.

Now Black Shirt Capital has directly spent $6 billion to buy shares in Standard Chartered Bank, and now holds 20% of the shares of Standard Chartered Bank.

Bank of America also owns 10% of Standard Chartered, HSBC and Standard Chartered have a 10% stake in Standard Chartered, and Standard Chartered holds less than 1% of HSBC.

Standard Chartered Chairman John holds 10% of the shares of Standard Chartered Bank, as long as Chen Hui gets the 10% of the shares in his hands, then HSBC and Bank of America will fully support themselves at the shareholders' meeting, and the Standard Chartered Bank shareholders' meeting will be completely up to their word.

"John, my price can't be higher, if you don't agree to me today, then at the shareholders' meeting, we will work with those dissatisfied shareholders to fire you, completely kick you out of Standard Chartered Bank, we will expose your money laundering evidence at the board of directors, you may have to go to prison for a few years, of course, you have another choice, sell me this 10% of the shares, then you can still stay in Standard Chartered Bank! I've already thought of a scapegoat for you, it's the CEO of Standard Chartered Bank!" Chen Hui immediately threatened