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Standard Chartered PLC (SCBFF) CEO William Winters on Q1 2021 Results - Earnings Call Transcript

May 02, 2021 9:24 AM ETStandard Chartered PLC (SCBFF), SCBFY
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Standard Chartered PLC (OTCPK:SCBFF) Q1 2021 Earnings Conference Call April 29, 2021 2:30 AM ET

Company Participants

William Winters - Group Chief Executive & Director

Andrew Halford - Group CFO & Director

Conference Call Participants

Yafei Tian - Citigroup

Aman Rakkar - Barclays Bank

Joseph Dickerson - Jefferies

Tom Rayner - Numis Securities Limited

Nicholas Lord - Morgan Stanley

Manus Costello - Autonomous Research

Martin Leitgeb - Goldman Sachs Group

Omar Keenan - Crédit Suisse

Guy Stebbings - Exane BNP Paribas


Welcome to Standard Chartered plc's First Quarter 2021 Results. Today's presentation is being hosted by Bill Winters, Group Chief Executive; and Andy Halford, Group Chief Financial Officer. [Operator Instructions].

At this point, I'd like to hand over to Bill to begin. Please go ahead.

William Winters

Thanks very much, and thanks, everybody, for joining us. Good morning, good afternoon. I'll make a couple of comments upfront on the Page 2 of the slide deck that you probably have. Andy will take us through the package, and then we'll both be available for Q&A.

So lots going on in the first quarter, clearly. The interest rate headwinds that were well flagged have been largely offset by growth in our other key strategic areas, which is encouraging, leading to a strong quarter overall. We had a record quarter in Wealth Management, but I think it's important as the income number is the new client number. So 100,000 additional clients into our priority segment, coming about 2/3 from the -- from our Mass segment and the other is new to bank. So as we've always pointed out, growing client numbers are the best leading indicator. We think that the outlook for the strong Wealth in -- strong quarter in Wealth, that outlook should continue to be pretty strong.

Had a good

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