Standard Chartered expects the value of assets it manages for affluent Taiwan clients to grow more than 20% over the next three years, double the rate of the island's overall private banking market, a senior executive of the London-based bank said.

"We expect (Taiwan's) onshore private banking market to grow by (low) double digits, and we expect to double that," Peter Flavel, who oversees Standard Chartered's global private banking business, told Dow Jones Newswires in an interview Monday.