Stanley Kwan (banker)
Stanley Shih Kuang Kwan (Chinese: 關士光; pinyin: Guān Shìguāng; January 10, 1925 – December 31, 2011) was a Hong Kong banker best known for creating the Hang Seng Index.[1] The Hang Sang Index opened on November 24, 1969.[1]
Biography
Stanley S. K. Kwan was born in Hong Kong in 1925 into a traditional Chinese banking family. He attended King's College until the fall of Hong Kong in 1941 and joined the Chinese army as an interpreter for US forces during the war. From 1962 until he retired in 1984, he headed the Research Department in Hang Seng Bank. He launched the Hang Seng Index in 1969, served on the government's Statistics Advisory Board during 1976–84 and was awarded the MBE in 1985. He now lives in Toronto, Canada.
Kwan creation, the Hang Seng Index, has been widely used to measure the health and growth of the
Kwan launched his career within the Hong Kong banking industry following the end of the war.
The Hang Seng Index would benefit, or suffer, based on the political and economic fortunes of Hong Kong. The Index crashed in 1974 following the
Stanley Kwan retired from the banking industry and moved to Canada. He died in Toronto on December 31, 2011, at the age of 86.[1]
References
- ^ New York Times. 2012-01-10. Retrieved 2011-01-29.