Standard Chartered Prepares for Digital Bank in Hong Kong, Appoints CEO

Standard Chartered, a British multinational banking and financial services company, is going full steam ahead with its plans to set up a digital banking operation in Hong Kong. In fact, the company announced on Thursday that it has appointed Deniz Güven to be CEO of the virtual bank.

According to the statement, Güven will lead a team to build a banking model that delivers innovative digital services "with a human touch". Leading the virtual bank lines up nicely with Güven’s experience as, according to his LinkedIn, he has been working with the bank since May last year as 'Senior Managing Director, Global Head at Digital'.

Commenting on his new role, Güven said: "I am honoured to have the opportunity to lead a new virtual bank in Hong Kong. Our focus is to build a smart bank to solve clients’ pain points with real digital services. We aim to create and execute a new banking model, which will set the global benchmark for all digital players."

Standard Chartered revealed that it has wanted to establish a virtual bank since June. This is because of new rules issued by the Hong Kong Monetary Authority granting virtual banking licences to both traditional and non-bank financial institutions. The move was particularly prompted by the desire to attract clients from the millennial segment, the statement said.

Deniz Güven’s 18-year career

Güven has a lengthy history in digital banking. His most recent position before Standard Chartered was at Garanti, Turkey’s largest private bank. During his 10 years at that bank, he was a manager and then later on, 'Senior Vice President of Digital'. In this role, he was responsible for end-to-end digital assets, as well as iGaranti which was the first mobile-only bank in the country.

Güven has also held positions at HSBC and DemirBank, working in channel management at both firms. He has also been a columnist at Digital Age Dergisi, a Turkish magazine, since 2015.

Güven attended London Business School, Columbia Business School, and Stanford University Graduate School of Business, and he has a number of degrees and accreditations, including an MBA from İstanbul Bilgi Üniversitesi.