Sun Hung Kai Bank

Sun Hung Kai Bank (Traditional Chinese: 新鴻基銀行), originally established as Sun Hung Kai Finance Company (the financing arm of Sun Hung Kai Securities), was acquired in 1985 by Arab Banking Corporation (ABC) and in 1986 Sun Hung Kai Bank was renamed International Bank of Asia (IBA). In 2004, IBA was acquired by Taiwan-based Fubon Group, which renamed the bank Fubon Bank (Hong Kong) Limited (Traditional Chinese: 富邦銀行 (香港)) in 2005. Currently, the bank operates under the name Fubon Bank (Hong Kong) Limited.

Sun Hung Kai Bank (Traditional Chinese: 新鴻基銀行), originally established as Sun Hung Kai Finance Company (the financing arm of Sun Hung Kai Securities), was acquired in 1985 by Arab Banking Corporation (ABC) and in 1986 Sun Hung Kai Bank was renamed International Bank of Asia (IBA). In 2004, IBA was acquired by Taiwan-based Fubon Group, which renamed the bank Fubon Bank (Hong Kong) Limited (Traditional Chinese: 富邦銀行 (香港)) in 2005. Currently, the bank operates under the name Fubon Bank (Hong Kong) Limited.

The original Sun Hung Kai Bank shareholders included Banque Paribas, Merrill Lynch, and the family of Fung King Hey (founder of Sun Hung Kai Securities).

In 1985, Ahmet D. Arsan, Asia Head of Arab Banking Corporation (ABC), arranged for ABC to acquire 75% of Sun Hung Kai Bank, which, at the time, was suffering from sub-optimal results and was ripe for a take-over. Arsan was an influential Turkish-American banker who ABC had recruited in 1982 to head ABC Asia Pacific, after his success, years earlier, in establishing the Asia Pacific arm of First Chicago (now JPMorgan Asia). Immediately following the 1985 acquisition of Sun Hung Kai Bank by ABC, Arsan made sweeping changes in the bank, ranging from the executive management team and most of the bank's staff, to the bank's entire set of operating procedures, on which all employees were trained. In 1986, Arsan changed the institution's name and re-branded the organization as International Bank of Asia (IBA); (港基國際銀行). Ahmet D. Arsan was the founding Chief Executive Officer and Managing Director of International Bank of Asia (IBA) from 1985 to 1989, after which Arsan left IBA and established a private Hong Kong based trading firm.

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