Standard Chartered's newly installed chief executive officer for Asia, Mr Benjamin Hung, knows something about staring down debacles.

Twelve years ago, as the bank's Hong Kong chief as well as chairman of the Hong Kong Association of Banks, he was lynched in effigy on the territory's streets after Lehman Minibonds went sour, angering thousands who had put their money in the callable, credit-linked securities sold to them by wealth managers.