Slaughter and May is advising Standard Chartered Bank (Hong Kong) on its virtual bank JV

27 Mar 2019

Slaughter and May is advising Standard Chartered Bank (Hong Kong) Limited (SCBHK) on its strategic joint venture to build a new standalone digital retail bank in Hong Kong. The JV is among the first three successful applicants to have obtained a virtual bank licence from the Hong Kong Monetary Authority.

SCBHK will be the majority shareholder in the joint venture with a 65.1% shareholding, with PCCW Limited, HKT Limited and Ctrip.com (Hong Kong) Limited holding 10%, 15% and 9.9%, respectively.

Contacts

Corporate: Clara Choi (partner), Ben Heron (associate), Esther Yee (associate), Pariya Rojtanongchai (associate), Kevin Tso (associate)

Financial Regulation: Peter Lake (partner)

Competition: Natalie Yeung (partner), Jack Dickie (associate)

IP: Susie Middlemiss (partner), Richard McDonnell (associate), Daniel Owen (associate)


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