It was founded in Hong Kong in 1918 by the grandfather, Li Koon-chun (李冠春), and great uncle of the present chairman, David Li. Today the company has a market capitalisation of HK$68.4 billion (US$8.5 billion), as at 27 February 2011, with consolidated assets of US$50.85 billion (as at 30 June 2008). It is listed on the Hong Kong Stock Exchange with a stock code of 23.^[2]The Bank of East Asia has 168 retail branches in Hong Kong, as well as 60 in mainland China and around 30 in the United States, Canada and Britain. Worldwide, the bank employs more than 13,000 people