Hong Kong

In Hong Kong banking, ‘international’ pretty much means China. And ‘Chinese bank’ pretty much means Beijing’s note-issuing giant Bank of China. And with Beijing’s $1 trillion One Belt, One Road initiative in the pipeline, clients know that they are buying BOCI’s extensive connections in China. That was seen in 2016 when BOCI brought Bank of Tianjin to the Hong Kong market.

Hong Kong is one of the world’s most wired markets; its internet users are more demanding than most. So Citi starts its digital offering from a good, if obvious, place. It wants its digital customer experience to be: ‘simple, intuitive, and seamless from beginning to end.’

HSBC likes to say it provides unparalleled one-stop services for its corporate clients, from deal origination and execution, through lending and syndication to sales and even research coverage. And it will do the entire train of transaction green, if you like.

It’s hard not to like Hang Seng Bank, not least because their branches in stations across Hong Kong’s underground rail network make convenient places to meet.

The bank for Hongkongers has long been overshadowed by big brother HSBC, but even rivals consider it the best investment the global giant ever made. What legacy does soon-to-retire chief executive Rose Lee leave?

Elliott Management’s court case against Sir David Li’s Bank of East Asia pits the aggressive new world of activist investment against one of Hong Kong’s most venerable institutions. The stakes are high, and the rhetoric tough.