Standard Chartered Hong Kong (officially Standard Chartered Bank (Hong Kong) Limited, ) is a licensed bank incorporated in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

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 The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong ...

History

The history of Standard Chartered in Hong Kong dates back to 1859, when

The Chartered Bank of India, Australia and China The Chartered Bank of India, Australia and China (informally The Chartered Bank) was a bank incorporated in London in 1853 by Scotsman James Wilson, under a Royal Charter from Queen Victoria.

opened a branch in Hong Kong. The Bank started issuing

banknotes of the Hong Kong dollar The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board of Hong Kong. Under licence from the HKMA, three commercial b ...

in 1862, and still does so today. In 2000, Standard Chartered acquired Hong Kong-based retail banking business of the

Chase Manhattan Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fi ...

, including Chase Manhattan Card Company Limited. In 2010, Standard Chartered acquired the Hong Kong consumer operations of

GE Capital GE Capital is the financial services division of General Electric. The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018. ...

. An office tower, the

Standard Chartered Bank Building The Standard Chartered Bank Building () is a skyscraper located in Central, Hong Kong. The tower rises 42 storeys and in height. The building was completed in 1990. It was designed by architectural firm P & T Architects & Engineers Ltd. His ...

, in

Des Voeux Road Des Voeux Road Central and Des Voeux Road West are two roads on the north shore of Hong Kong Island, Hong Kong. They were named after the 10th Governor of Hong Kong, Sir William Des Vœux. The name was sometimes spelt with the ligature œ i ...

, Central, Hong Kong is named after the bank. The building is now owned by

Hang Lung Group Hang Lung Group is an investment holding company that engages in property development for sales and leasing, as well as management of car parks, properties, and dry cleaning businesses. Its subsidiary Hang Lung Properties is one of the largest p ...

. The Chairperson of the Board is Katherine Tsang, younger sister of former

Chief Executive of Hong Kong The Chief Executive of the Hong Kong Special Administrative Region is the representative of the Hong Kong Special Administrative Region and head of the Government of Hong Kong. The position was created to replace the office of governor of ...

Donald Tsang Sir Donald Tsang Yam-kuen (; born 7 October 1944) is a former Hong Kong civil servant who served as the second Chief Executive of Hong Kong from 2005 to 2012. Tsang joined the colonial civil service as an Executive Officer in 1967, occupyi ...

, and formerly chairwoman for Greater China operations. She took up the top job on 1 January 2011, succeeding

Chow Chung-Kong Sir Chung-kong Chow , FREng, FCGI, FIChemE (; born 9 September 1950), also known as Chow Chung-kong and C.K. Chow, is a former non-official member of the Executive Council of Hong Kong, and the chairman of Hong Kong Exchanges and Clearing, wh ...

, who held the post from 2004.Tsang sister moves up the ladder
, The Standard, January 11, 2011

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 Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five Boroughs of New York City, boroughs of New York City. The borough is also coextensive with New York County, one of the List of co ...

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 (Hong Kong) Ltd.

Banknotes

Standard Chartered Bank (Hong Kong) 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 (Hong Kong) Bank of China (Hong Kong) Limited () also known as its short name Bank of China (Hong Kong) or BOCHK (), is a subsidiary of the Bank of China (via a Hong Kong-listed intermediate holding company BOC Hong Kong (Holdings)). Bank of China (Hong ...

and

The Hongkong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited (), commonly known as HSBC (), was the parent entity of the multinational HSBC banking group until 1991, and is now its Hong Kong-based Asia-Pacific subsidiary. The largest bank in Hong K ...

. The Bank has been issuing banknotes since the 1860s (as

). Leading to the incorporation of the bank on 1 July 2004, the

Legislative Council of Hong Kong The Legislative Council of the Hong Kong Special Administrative Region (LegCo) is the unicameral legislature of Hong Kong. It sits under China's " one country, two systems" constitutional arrangement, and is the power centre of Hong Ko ...

amended Legal Tender Notes Issue Ordinance. The amendment replaced Standard Chartered Bank with its newly incorporated subsidiary - Standard Chartered Bank (Hong Kong) Ltd - as one of the note-issuing banks in Hong Kong.

Leadership

* ''Regional Chief Executive:'' Benjamin Hung (since October 2015) * ''Hong Kong Chief Executive:'' Mary Huen (since March 2017)

List of Former Regional Chief Executives

''Since the local incorporation of Standard Chartered Bank (Hong Kong) Limited on 1 July 2004.'' #Kaikhushru Shiavax Nargolwala (2004–2007) # Jaspal Singh Bindra (2007–2015)

List of Former Hong Kong Chief Executives

''Since the local incorporation of Standard Chartered Bank (Hong Kong) Limited on 1 July 2004.'' # Peter David Sullivan (2004–2007) # Benjamin Hung Pi-cheng (2008–2014) # May Tan Siew-boi (2014–2017)

References

External links

Standard Chartered Hong Kong HomepageManhattan CardA Hong Kong bank note issued by the Chartered Bank in 1962-1975, frontback
{{HK_currency_and_coinage Standard Chartered Banks of Hong Kong Banks established in 2004 Banknote issuers of Hong Kong