Standard Chartered Hong Kong
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Predecessor | The Chartered Bank of India, Australia and China (branch since 1859) |
| Founded | July 1, 2004 (local incorporation) |
| Headquarters | Kwun Tong , Hong Kong |
Area served | Hong Kong |
Key people | Benjamin Hung (Regional Chief Executive, appointed October 2015), Mary Huen (Hong Kong Chief Executive, appointed March 2017), Katherine Tsang (Chairperson of the Board since January 2011) |
| Products | Banking services, currency note issuance for Hong Kong dollar |
| Parent | Standard Chartered |
| Website | www |
Standard Chartered Hong Kong (formally known as Standard Chartered Bank (Hong Kong) Limited, ) operates as a licensed banking institution incorporated within Hong Kong and functions as a subsidiary of Standard Chartered. It is among the trio of commercial banks authorized by the Hong Kong Monetary Authority to issue currency notes for the Hong Kong dollar.
History
The bank's roots in Hong Kong trace back to 1859 when The Chartered Bank of India, Australia and China inaugurated its branch there. Since 1862, the institution has been issuing banknotes of the Hong Kong dollar.
In 2000, Standard Chartered broadened its retail banking footprint by acquiring the Hong Kong segment of Chase Manhattan Bank, which included Chase Manhattan Card Company Limited. Ten years later, in 2010, it enhanced its consumer banking portfolio further through the acquisition of the Hong Kong consumer operations from GE Capital.
The bank’s previous headquarters, known as the Standard Chartered Bank Building, situated on Des Voeux Road in Central, is currently owned by Hang Lung Group. The primary office for Hong Kong operations has been relocated to Millennium City 1 in Kwun Tong.
Katherine Tsang, who is the sister of former Hong Kong Chief Executive Donald Tsang and previously served as Greater China chairwoman, assumed the role of Chairperson of the Board on 1 January 2011. She took over from Chow Chung-Kong, who held the position from 2004.
Local incorporation
On December 12, 2003, Standard Chartered (Hong Kong) Ltd was officially registered and subsequently renamed Standard Chartered Bank (Hong Kong) Ltd on February 4, 2004. The local incorporation process was finalized on 1 July 2004, integrating Standard Chartered Bank’s Hong Kong branch along with Manhattan Card Company Ltd, Standard Chartered Finance Ltd, Standard Chartered International Trade Products Ltd, and Chartered Capital Corporation Ltd. These entities now operate collectively under Standard Chartered Bank (Hong Kong) Ltd as a licensed bank.
Banknotes
Standard Chartered Bank (Hong Kong) Limited is one of three authorized commercial banks permitted by the Hong Kong Monetary Authority to circulate banknotes in Hong Kong, alongside Bank of China (Hong Kong) and The Hongkong and Shanghai Banking Corporation. The bank has been issuing currency notes since the 1860s when it was known as The Chartered Bank of India, Australia and China.
Before its local incorporation on 1 July 2004, adjustments were made by the Legislative Council of Hong Kong to the Legal Tender Notes Issue Ordinance. This amendment replaced Standard Chartered Bank with its newly established subsidiary as an official note-issuing entity within Hong Kong.
Leadership
- Regional Chief Executive: Benjamin Hung (appointed October 2015)
- Hong Kong Chief Executive: Mary Huen (appointed March 2017)
Former Regional Chief Executives
Following local incorporation on 1 July 2004.
- Kaikhushru Shiavax Nargolwala (2004–2007)
- Jaspal Singh Bindra (2007–2015)
Former Hong Kong Chief Executives
Following local incorporation on 1 July 2004.
- Peter David Sullivan (2004–2007)
- Benjamin Hung Pi-cheng (2008–2014)
- May Tan Siew-boi (2014–2017)