Standard Chartered Hong Kong


Standard Chartered Hong Kong is a licensed bank incorporated in Hong Kong and a subsidiary of Standard Chartered. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar.

History

The history of Standard Chartered in Hong Kong dates back to 1859, when The Chartered Bank of India, Australia and China opened a branch in Hong Kong. The Bank started issuing banknotes of the Hong Kong dollar in 1862, and still does so today.
In 2000, Standard Chartered acquired Hong Kong-based retail banking business of the Chase Manhattan Bank, including Chase Manhattan Card Company Limited. In 2010, Standard Chartered acquired the Hong Kong consumer operations of GE Capital.
An office tower, the Standard Chartered Bank Building, in Des Voeux Road, Central, Hong Kong is named after the bank. The building is now owned by Hang Lung Group.
The Chairperson of the Board is Katherine Tsang, younger sister of former Chief Executive of Hong Kong, Donald Tsang, and formerly chairwoman for Greater China operations. She took up the top job on 1 January 2011, succeeding Chow Chung-Kong, who held the post from 2004.

Local incorporation

On 1 July 2004, Standard Chartered completed the local incorporation of its Hong Kong businesses, namely the Hong Kong branch of Standard Chartered Bank, Manhattan Card Company Ltd, Standard Chartered Finance Ltd, Standard Chartered International Trade Products Ltd and Chartered Capital Corporation Ltd. The bank operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank Ltd.

Banknotes

Standard Chartered Bank Limited is one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes in Hong Kong, the other two being the Bank of China and The Hongkong and Shanghai Banking Corporation. The Bank has been issuing banknotes since the 1860s.
Leading to the incorporation of the bank on 1 July 2004, the Legislative Council of Hong Kong amended Legal Tender Notes Issue Ordinance. The amendment replaced Standard Chartered Bank with its newly incorporated subsidiary - Standard Chartered Bank Ltd - as one of the note-issuing banks in Hong Kong.

Leadership

List of CEO's Since Local Incorporation in 2004