Standard Chartered Hong Kong was selected as Strategic investor and a 19.99% shareholding was agreed.

The first appointed official of the bank was from Standard Chartered, an Englishman, Mr Simon Page, the chief risk officer who took up the post in October 2004.

The head of Wholesale Bank was a Swiss national, Mr Rolf Berweger.

A group of officials and technical experts from Standard Chartered Bank joined the set up team and the preparation for the bank began under the guidance of the project director Mr Clive Haswell, pulling together business strategy, technical & IT infrastructure, policies and procedures.

The chief financial officer, Mrs Guo Rong Li, chief technology officer, Mr Liu Zheng Quan, head of Consumer Bank, Mr Phang Yew Kiat were also appointed.