Hong Kong court acquits former Standard Chartered private banker of bribery charge

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Hong Kong court acquits former Standard Chartered private banker of bribery charge

A magistrate's court in Hong Kong has acquitted former Standard Chartered Bank private banking head Ryan Gwee Yuan Kerr of a bribery charge brought by the Independent Commission Against Corruption (ICAC).

Magistrate Lam Tsz-kan of Hong Kong's Eastern Magistrates' Courts dismissed the ICAC charge on 9 October after a hearing.

Gwee, who is now co-founder and CEO of private equity firm Asia Capital Pioneers Group, said: "It is a huge relief to be cleared of this baseless charge. While I was always confident that the ICAC case would be dismissed, it was still no joy to have to defend myself against a false and serious accusation, and to have to live with this terrible uncertainty for 10 months.

"Nevertheless, I am grateful to everyone who stuck with me during this period, including my family, friends, colleagues, clients and business associates. I know who they are and will always be there for them as they were for me."

Gwee, who worked with Standard Chartered Bank in Singapore, Hong Kong and Shanghai for more than a decade, was managing director and head of private banking for China before he left in 2011 to set up an investment firm which has been reorganised to become ACPG, which provides consultancy to family offices on investments and philanthropy.

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.