The Rebirth of the Financial Hegemon

In George Jin's heart, tens of thousands of pieces of shit pass through his mind every day.

Nicklison is now known as a devilish trader, and I am afraid that in the future he will also be known as the one who brought Standard Chartered down.

This is definitely the biggest shame for George King, who was born into a noble family.

However, the situation has reached this point, and there is no possibility of salvation at all.

George King could only pick up the phone and notify the board of directors and senior management one by one.

"Damn it, George, tell me how you can lose 3.5 billion US dollars, 3.5 billion... Even if you set fire to it every day, it will still take ten years..."

"God, how could this happen? How could you lose so much money in just a few months? Li Sen has been playing for more than one billion US dollars for a year, but you have lost 3.5 billion US dollars in just a few months..."

"George, I think your name will go down in financial history."

"..."

Standard Chartered Hong Kong Headquarters.

After George King made the call, the heads of Standard Chartered's global regions rushed to Hong Kong.

Global executive president, chief executive officer, executive director, chairman of Standard Chartered Group and other senior management.

However, these reactions are quite strange.

Some people gloated, some complained, and some ridiculed.

Some wanted to eat George King alive.

The reason is quite simple.

A large part of Standard Chartered's senior managers work part-time.

Just like José Vinals, the vice chairman.

He was just looking forward to the big disaster that George King had caused.

In a group company, factional fighting is common.

George King is a British man and the CEO of Standard Chartered Asia.

With a good background, George King often did not look down on other people.

Some people have long disliked his aristocratic demeanor.

Now that George King has made such a big mess, he will bear an indelible stain for the rest of his life.

This is naturally a good thing for José Vinals, who is in conflict with George King and dislikes each other.

As for Standard Chartered's bankruptcy, it has nothing to do with him.

Nothing more than losing a job.

With José Vinals’ experience in the industry, there is no need to worry about finding a job.

In the midst of George King's decadence, José Vinales was serious.

"George, relax, this is not your fault. The most you can do is bear the reputation of bringing Standard Chartered down. This is a good opportunity for you to become famous all over the world..."

José Vinals could make sarcastic remarks, but George King couldn't refute him at all.

As the person in charge of this decision, George King could only choose to bear the consequences.

"boom…."

There was a heavy push, and the closed door of the conference room was pushed open from the outside.

Then, a group of people filed in from outside.

Asian race.

After a dozen Asians came in, the previously noisy conference room immediately fell silent.

Standard Chartered Bank, after its merger with Standard Bank of South Africa, is also known as Standard Chartered Bank.

It is an old bank established in 1853 under the charter of Queen Victoria.

In the eyes of many people, Standard Chartered is a British commercial bank.

It is registered in the United Kingdom and is listed on the London Stock Exchange. Most of its senior management are British.

Everything seems to be in line with the characteristics of the British Commercial Bank.

But in fact, the real controller of Standard Chartered Bank is not British.

In 1986, Standard Chartered fell into an economic crisis due to operational problems, which triggered the British bank Lloyds' intention to suppress and acquire Standard Chartered.

Just when Lloyds Bank was fully prepared to acquire Standard Chartered, three Cheng Yaojin suddenly appeared.

The equity battle of any group company is no less than a huge war.

In the end, Qiu Tak-pao teamed up with Global International Financial Co., Ltd. of Chinese world shipping king Pao Yukang and Australian businessman Robert Home.

Wrestled Standard Chartered from Lloyds Bank.

The three men joined forces and acquired 37% of Standard Chartered's shares.

Among them, Pao Yukang accounted for 14%, Qiu Debo accounted for 14%, and Robert Home accounted for 9%.

Among these three people, Pao Yukang and Qiu Teckpot are both Chinese businessmen.

In addition, Singapore's state-owned capital Temasek Group also holds 8% of Standard Chartered's total share capital.

As for other dispersed equity capital, it is mainly concentrated in the hands of some funds.

The largest is Black Rock Capital.

Therefore, when the management of Standard Chartered saw a group of Chinese coming in, they immediately became quiet.

As people from capitalist countries, these bankers know how to awe and respect their bosses.

After the rightful owner arrived, he naturally reported the whole story of the crisis.

George Jinqiang cheered up and finished telling the whole story.

How to negotiate with Jushi Capital, how to sign an insurance contract with Jushi Capital, and then to the terms of the insurance contract and the risk assessment at that time.

Very fair and careful.

There is no concealment or shirk of responsibility.

It can be said that George King is a very competent person in charge.

Of course, under the current circumstances, there is no point in hiding and evading.

After listening to George King's report, the faces of several major shareholders or shareholder representatives present turned dark.

Whether it is Global International Finance, Khoo Tak Pho's Malay Capital, or Singapore's Temasek.

Each company is a giant that has been in the capital market for a long time.

Those who can attend such an occasion are naturally professionals from various industries.

In George King's complete return, we immediately realized how far Standard Chartered had reached.

This group of people was ready to kill George King.

However, they also knew that this matter actually had little to do with George King.

In terms of responsibility, George King did nothing wrong.

Risk assessment, administrative approval at all levels, and final contract signing.

Every link is clear and clear.

Some of them have even made approval decisions.

This means that no one discovered the crisis lurking under this policy at the beginning.

Now that there is a problem, George King cannot be blamed harshly.

Such a large insurance policy has been carefully studied and analyzed by numerous departments.

If they scold them, they are scolding themselves.

Li Cane Farmer.

Singaporeans, the representatives sent by Temasek this time.

After reading all the information, he suppressed his anger and asked.

"What kind of ghost company is this Jushi Capital? Is there any conspiracy in it? Otherwise, how would you know that Thailand's real estate will collapse?"

George King has thought about this question countless times.

But the final answer is that I can’t figure it out.

If there were any clues at the beginning, George King would not have signed the insurance contract easily.

No one can answer Li Cane Farmer's question.

Even if there is any conspiracy, under a contract with complete legal benefits, everything must be decided by evidence.

But if the terms of that contract are followed, the only thing waiting for Standard Chartered is bankruptcy and liquidation.

At the board meeting, the major directors discussed for a long time but failed to come up with any result.

Standard Chartered's legal department and professionals brought by the three major shareholders conducted multiple cross-examinations on the contract.

The purpose is to find loopholes that can avoid huge compensation.

Normally, no matter how detailed a contract is, there may be some subtle loopholes.

As long as we can find a trace, with the power of the major families, we can resolve this crisis at the minimum cost.

But unfortunately, no matter how many times the people from the legal department reviewed it, they could not find any loopholes to prevent the contract from being performed.

All the detailed terms and conditions have blocked the possibility that Standard Chartered may default.

Asset value, compensation ratio, subject matter scope, and contract index.

Everything.

There is no loophole to exploit.

It’s as if the other party already knew that Thailand’s housing prices would plummet.

In terms of time, amount, and scope.

It is completely set in the direction that is most beneficial to the other party.

This kind of contract without any loopholes made everyone feel a hint of conspiracy.

But unfortunately, no one can crack this conspiracy.

Standard Chartered's total assets are US$3.9 billion, and its core capital ranks 420th among the world's 1,000 largest banks.

It controls more than 50 billion US dollars globally, but in 1994, Standard Chartered's pre-tax profits were as high as 350 million US dollars.

If possible, no one would give up a chicken that lays golden eggs like Standard Chartered.

However, in the face of that $200 million contract, even the three major shareholders felt powerless.

Standard Chartered's total capital is US$2 billion.

But if the compensation terms of that policy were followed, it would mean that Standard Chartered has now lost US$3.5 billion.

If it were only 3.5 billion U.S. dollars, several major shareholders might still take over the loss.

After all, Standard Chartered's total assets are placed there.

As long as more than one billion US dollars are injected, Standard Chartered can be saved from bankruptcy.

With Standard Chartered's annual income, it may be possible to make back this shortfall in a few years.

But the problem is that Thailand's real estate index is like a bottomless abyss like the stock market, and no one knows where it will fall.

Before the policy expires and before Jushi Capital redeems the default swap, it is impossible to predict how much money this policy will cause Standard Chartered to lose.

According to the compensation terms on the insurance policy, for every one percent drop in the Comprehensive House Price Index in Thailand, one hundred times the insurance premium will be compensated.

Given the huge selling that Thailand's real estate industry is currently suffering, there will be no possibility of any rise in the short term.

I want to save it by injecting funds.

Maybe it's possible to save it, maybe it's just a bottomless pit.

Before the outcome is clear, no one dares to inject capital into Standard Chartered easily.

After discussing for a whole day, the board of directors did not come up with a final result.

Today’s Standard Chartered does not have the final say at all as shareholders.

The person who really controls the fate of Standard Chartered is the credit default swap. To be precise, it is the person who buys the credit default swap.

But it didn't take long for all shareholders to give up the possibility of saving Standard Chartered.

The Thai baht collapsed.

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