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

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

and a subsidiary of

Standard Chartered Standard Chartered PLC is a British multinational bank with operations in wealth management, corporate and investment banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in th ...

. It is also one of the three commercial banks licensed by the

Hong Kong Monetary Authority The Hong Kong Monetary Authority (HKMA) is the central bank, central banking institution of Hong Kong. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merge ...

to issue banknotes for the

Hong Kong dollar The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of Hong Kong. It is divided into 100 cents. Historically, it was also divided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong an ...

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 (UK politician), James Wilson, under a Royal Charter from Victoria of the United Kingdom, Queen ...

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, Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong ...

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, 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 financial services holding ...

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

GE Capital GE Capital was the financial services division of General Electric. Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial. Ultimately, only one div ...

. An office tower, the

Standard Chartered Bank Building The Standard Chartered Bank Building ( zh, 渣打銀行大廈) 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 Architec ...

, in

Des Voeux Road Des Voeux Road Central ( Chinese: 德輔道中) and Des Voeux Road West ( Chinese: 德輔道西) 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. Th ...

, 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 ...

, although the latter's SC main operation office is now located in

Millennium City A millennium () is a period of one thousand years, one hundred decades, or ten centuries, sometimes called a kiloannum (ka), or kiloyear (ky). Normally, the word is used specifically for periods of a thousand years that begin at the starting po ...

Kwun Tong Kwun Tong is an area in the Kwun Tong District of Hong Kong, situated at the eastern part of the Kowloon Peninsula, and its boundary stretches from Lion Rock in the north to Lei Yue Mun in the south, and from the winding paths of Kowloon 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 (; born 9 September 1950), also known as Chow Chung-kong and C.K. Chow, is a Hong Kong businessman and government appointee. He is currently chairman of the Urban Renewal Authority and is a former non-official member of the ...

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

Local incorporation

Standard Chartered Exchange Square Branch

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 (Hong Kong) Ltd.

Banknotes

Standard Chartered Bank (Hong Kong) Limited is one of the three commercial banks licensed by the

to issue banknotes in Hong Kong, the other two being the

Bank of China (Hong Kong) Bank of China (Hong Kong) Limited (), abbreviated as BOCHK (), is a subsidiary of the Bank of China (via the Hong Kong-listed intermediate holding company BOC Hong Kong Holdings). Bank of China (Hong Kong) is the second-largest commercial ban ...

and

The Hongkong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited (), commonly abbreviated as HSBC and formerly known as HongkongBank (; styled ''Wayfoong'' by the bank), is the Hong Kong–based Asia-Pacific subsidiary of the HSBC banking group, for whi ...

. 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, colloquially known as LegCo, is the Unicameralism, unicameral legislature of Hong Kong. It sits under People's Republic of China, China's "one country, two systems" c ...

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 Currencies of Hong Kong