Standard Chartered CEO Criticizes UK’s Banking Regulations as Private Credit Flourishes

Bill Winters, CEO of Standard Chartered, has sharply criticized the UK’s regulatory environment for traditional banks during a Bloomberg Television interview. The decade-long banking veteran argues that excessive oversight by the Prudential Regulation Authority and Financial Conduct Authority has created an uneven playing field.

"We’ve got really huge numbers of individuals in the UK focusing on our business," Winters said. "They’re too intrusive, too costly, and I don’t think you actually get a good return on that." The executive specifically pointed to post-2008 capital requirements that have driven banks away from riskier lending.

This regulatory climate has allowed private credit firms to fill the void, with the industry ballooning to $1.7 trillion. Major players like Apollo Global Management see this as just the beginning of their market dominance. Winters’ comments highlight the growing tension between traditional finance and less-regulated alternatives.