StanChart 2010 private bank assets soars 31%

5,000 new client accounts added and the number of relationship managers up 15% to 450 in the same year.

Standard Chartered's private bank saw its total assets under management (AUM) increase by 31 percent last year, helped by strong growth in Asia.

The bank's AUM grew by 39 percent in Asia last year, and it increased its total revenue by 23 per cent to over $400 million, it said in a statement.

StanChart added 5,000 new client accounts and increased the number of relationship managers by 15 per cent to over 450 in the same period, according to a report in Reuters.

"We are positive about the 2011 outlook as we see many opportunities arising from the current changing landscape of the financial markets," Shayne Nelson, CEO and Global Head of StanChart's private bank said.