Standard Chartered

A licensing scheme for stablecoin issuers in Hong Kong is expected to be introduced later this year.

The fund will also be the first retail tokenised fund across Asia Pacific.

Amid wider changes, Roberto Hoornweg, global head, financial markets, and Sunil Kaushal, regional CEO, Africa & Middle East, are to become co-heads of Corporate & Investment Banking (CIB), with Simon Cooper set to leave.

Across the year, the Asia and Africa-focused lender took a $850 million hit from its investment in China's Bohai Bank.

Jacob Berman, the bank’s former head of client coverage in Japan, has taken up the position which sits within SC’s corporate and institutional banking unit.

Burnett spoke to FA about the opportunities that Hong Kong continues to offer foreign investors and long-established firms.

The Hong Kong Monetary Authority (HKMA) plans to introduce licensing requirements for firms operating in stablecoins, by 2024.

The bank is the first to set up a 100% foreign-owned securities firm via greenfield investment in the Mainland, since the market scrapped foreign ownership limits.

A familiar face in Singapore - James Lye joins from Citi to drive growth across Standard Chartered's international banking hubs.