Hang Seng Bank

Hang Seng Bank Limited (

It established the Hang Seng Index as a public service in 1969 and this stock market index is now generally known as the primary indicator of the Hong Kong stock market.^[4]

History

In 1933, business partners

In 1969, the Hang Seng Index was introduced as a public service.^[4] The index is now generally known as an indicator of the Hong Kong stock market.^[4] Hang Seng Bank was listed on the Hong Kong Stock Exchange in 1972.^[8] In 1981, Hang Seng Bank was given permission to run branches in MTR stations.^[8] Hang Seng Bank began to extend its business to China^[9] in 1985,^[8] with the opening of a representative office in Shenzhen.^[8] Ten years later, Hang Seng Bank opened its first Chinese branch in Guangzhou.^[8]

In 2002, Hang Seng Bank launched personal e-banking in Mainland China.^[10] Hang Seng Bank opened its branch in Macau in 2003.^[8] In 2006, Hang Seng Bank received authorisation to get ready for the formation of its mainland China subsidiary bank.^[8] Within the same year, Hang Seng Bank introduced a brand revitalisation program and presented a new company slogan – Managing wealth for you, with you.^[8]

2007 was significant to Hang Seng Bank: the China Banking Regulatory Commission (CBRC) authorised the formation of Hang Seng Bank (China) Limited, the mainland China subsidiary bank of Hang Seng Bank^[8] which was established on 28 May 2007.^[3] In November, Hang Seng Bank opened its new Hong Kong office at MegaBox, Kowloon Bay.^[8] Hang Seng Bank became the first bank in Hong Kong to fix the renminbi (RMB) prime rate in 2010.^[8]

In February 2012, Hang Seng Bank introduced the world's first

Hang Seng Bank is a

Hang Seng Bank established its wholly owned subsidiary, Hang Seng Bank (China) Limited, in 2007.[3] The subsidiary runs a mainland China network of 46 outlets in Beijing, Shanghai, Guangzhou, Shenzhen, Dongguan, Fuzhou, Nanjing, Hangzhou, Ningbo, Tianjin, Kunming, Foshan, Zhongshan, Huizhou, Xiamen, Zhuhai and Jiangmen with 12 branches and 34 sub-branches.^[3] For foreign currency wholesale business, Hang Seng Bank maintains branches in Shenzhen, Macau and Singapore, as well as a representative office in Taipei.^[2]

The current chairperson is Ms.

1. Ho Sin-hang (1952–1983)
2. Sir Lee Quo-wei (1983–1996)
3. David Eldon (1998–2005)
4. Michael Smith (2005–2007)
5. Raymond Ch'ien (2007–2021)

List of former CEOs

Role of CEO / general manager began in 1952, after incorporation as a bank

1. Ho Tim (1952–1967)
2. Sir Lee Quo-wei (1967–1987)
3. Ho Tak-ching (1987–1993)
4. Alexander Au (1993–1998)
5. Vincent Cheng (1998–2005)
6. Raymond Or (2005–2009)
7. Margaret Leung (2009–2012)
8. Rose Lee (2012–2017)
9. Louisa Cheang (2017–2021)

References