Global General Counsel for Corporate & Investment Banking at Standard Chartered Bank, Samallie Kiyingi, speaks to In-House Perspective about her career in banking and finance, the challenges facing general counsel and how law can be used as a tool for good.

Curiosity, optimism and a strong sense of justice have paved Samallie Kiyingi’s way. Born in Uganda to a doctor and a lawyer, Samallie spent her early childhood in the capital Kampala, before moving to Australia where she finished her education. She says this experience of growing up in such different cultures was incredibly formative. ‘I grew up in two countries and was always struck by a sense of justice and a sense that the world could be better,’ she says.

As a passionate, creative spirit at heart, she flirted briefly with the idea of becoming an architect before setting her sights on the legal profession. It was perhaps no surprise, she says, that in the end she chose to pursue a legal career and follow in the footsteps of her inspirational mother, the renowned human rights lawyer and anti-corruption campaigner Robinah Kasirye Kiyingi. ‘When I look at the two environments I grew up in, I saw how law could be used as a tool for good,’ says Kiyingi.

Enrolling in a law course at one of Sydney’s top universities, she heeded the advice of one of her professors to obtain commercial training at a big law firm, before embarking on a career in human rights. She secured a graduate position at what was then Blake Dawson Waldron – known as Ashurst today – in Sydney and specialised in banking and finance.

It may have seemed a world apart from her initial human rights aspirations, but Kiyingi says the experience convinced her that this area of law was fertile ground for bringing about change. ‘I ended up in finance by accident, but discovered I actually really enjoyed it,’ she says enthusiastically.

However, human rights never really strayed far from her mind. Later she was awarded a scholarship to complete a master’s in international law at New York University (NYU), but it was never meant to be. ‘I actually deferred my scholarship for one year to take a job at Clifford Chance in London,’ she says. ‘The rationale was that I would attend NYU as a “rich” student having worked for a year. As fate would have it, I ended up staying in London for personal reasons.’

During her time in London, Kiyingi was able to remain close to her passion for development and became involved in helping to build Clifford Chance’s Africa strategy. The firm was also a board member of International Lawyers for Africa (ILFA), which provides African lawyers with international secondments and networking opportunities. Kiyingi says this gave her the invaluable opportunity of sitting in on board meetings and learning more about the organisation’s pivotal work.

It was also at ILFA that she first met Sandie Okoro OBE, a leading finance lawyer who would eventually become her boss at Standard Chartered. Following Clifford Chance, Kiyingi enjoyed successful roles in-house at Deutsche Bank and working as a consultant. In February 2017, she noticed that Okoro had been appointed General Counsel at the World Bank.

Given she was a lawyer working in structured finance, Kiyingi says she was struck by such a strong female role model choosing to make the jump from the ‘city’ to international development. ‘It was inspirational in the sense that this was somebody who’d worked in the financial services sector in the UK and had then moved to a development institution. I thought [..] Oh wow, it can be done,’ she says.

A few months later, in April 2017, Kiyingi joined African Export Import Bank (Afreximbank) as Director of Legal Services and General Counsel, based in Cairo. The role gave her the unique opportunity to use the legal expertise she had acquired in the finance industry within a development context. ‘Interestingly, my work environment in Cairo was far more formal than my previous work environment in Sydney or London,’ she reflects. ‘We were often dealing with ministers and presidents and so on. In addition to legal expertise, the role required political sensitivity and a strategic outlook.’

Although navigating the different working environment and culture was a crucial learning experience, Kiyingi says she relished the opportunity. ‘It was hard to adjust, but I loved Cairo,’ she says, smiling. ‘It’s one of those cities that when you invest in it, it really gives you a lot back.’

Finance for good

At the point that Kiyingi had spent three years in Cairo, in 2020 the Covid-19 pandemic hit. With vaccines being in short supply across Africa, the Covid-19 African Vaccine Acquisition Task Team (AVATT) was formed later that year and was tasked with ensuring equitable access to and financing for Covid-19 vaccines for all African Union Member States.

The African Vaccine Acquisition Trust (AVAT) was the brainchild of Cyril Ramaphosa, the President of South Africa and then-President of the African Union (AU). He soon engaged with Professor Benedict Oramah, President of Afreximbank – Kiyingi’s ultimate boss at the time – about facilitating the bulk purchase of vaccines to stop the spread of Covid-19 across the continent.

A legal agreement to purchase vaccines to safeguard the health of the African population was needed, and fast. Overnight Kiyingi came up with structure diagrams outlining the flow of funds and obligations. Then over a ten-week period she and her team worked tirelessly with colleagues both within the business and externally to negotiate and establish a framework for the vaccine agreement.

‘Because of the infrastructure we had at the bank, we said we would take the lead in structuring and negotiating the framework,’ she explains. ‘It’s probably the most meaningful transaction I’ve done in my career. All the previous work I had done in structured finance was the perfect foundation for developing a completely novel framework from scratch.’

Finally, the agreement was signed on 28 March 2021, for the purchase of 220 million doses of the Johnson & Johnson single-shot Covid-19 vaccine, with the potential to order an additional 180 million doses. The pioneering agreement marked the first time that AU Member States had entered into a commercial contract collectively.

Amendments were also made to ensure members of the Caribbean Community (CARICOM) could also benefit from the vaccine scheme in a first-of-its-kind commercial agreement between the two regional groupings. Although the deal went far in helping Africa move towards its target of achieving at least 60 per cent immunisation to eliminate the virus, vaccine hesitancy continued to be a problem plaguing the continent.

‘Most advanced economies have some form of no-fault compensation scheme, so if something, by chance, does go wrong, somebody has access to compensation,’ explains Kiyingi. ‘Most African countries did not have this, so we actually had to set this up from scratch, and again, in a very short time frame. This was another first of its kind for the continent and it was a huge game changer.’

Established officially in March 2022, the scheme provides a no-fault, lump-sum compensation in full and final settlement of any claims to individuals who suffer an injury as a result of a vaccine or its administration. With no fees for claimants and with no need to provide evidence of a vaccine’s defect or any fault by any person, the scheme applies to all vaccines procured or distributed under the AVAT framework across more than 40 participating African and Caribbean countries.

Poor access to healthcare and infrastructure constraints across the continent made the deal even more imperative, says Kiyingi. ‘Having the scheme as a safety net was a huge driver in terms of getting support,’ she says. ‘It was incredibly challenging because of the time pressure and what was at stake, but also definitely one of the most meaningful projects I’ve worked on.’

By October 2023, around 50 per cent of the continent’s population was fully vaccinated. Reflecting on the experience, Kiyingi says what they achieved was staggering. ‘When I look back, this was an incredible achievement given that in late January 2021 not a single African country had received vaccines and the road map to vaccination in Africa was unclear,’ she says.

Global outlook, strategic lens

While considering her next steps, Kiyingi was convinced the next leg of her journey would take her back to London. She was nearly right. UK bank Standard Chartered gave her an offer she couldn’t refuse to move to Asia.

The role was two-fold: Global General Counsel for the Corporate & Investment Banking business sitting in Singapore, as well as overall responsibility for the regional legal teams in Europe and the Americas. Kiyingi’s regional responsibilities have since been expanded to include Africa, the Middle East, South Asia and the Association of Southeast Asian Nations (ASEAN) region.

She says the bank’s ethos and global footprint was a huge draw. ‘The first thing that became apparent was a strong sense of purpose within the DNA of the bank,’ she beams. ‘Even the brand promise – “here for good” – was something that spoke to me. The role was global, involving working in some of the world’s most dynamic markets and it’s in an area that I find very interesting. For me, that was a real pull.’

She says the prospect of working with her new boss – Sandie Okoro, who joined Standard Chartered as Group General Counsel in April 2022 after leaving the World Bank – was also a key factor. ‘As a leader I think Sandie is incredibly dynamic,’ says Kiyingi. ‘When she shared her vision and what she was trying to do, I knew I wanted to be part of the story and contribute to the vision.’

Kiyingi’s role spans the bank’s full range of corporate and investment banking transactions and products, as well as overseeing the teams managing specific regulatory and country-specific issues across the bank’s network, excluding China, Hong Kong and North Asia. The overall team is sizeable, with over 300 lawyers globally.

The role has also allowed her to engage in discussions around many of the bank’s biggest priorities and opportunities, including sustainability. ‘A key focus for me is keeping up with the latest developments due to the pace of change and constant new developments in this space,’ she says.

It has also taught her the need for general counsel (GCs) to be strategic. ‘For me, the challenge I welcome is not only staying on top of what’s happening globally, but also having a strategic lens,’ she adds. ‘It’s important to not only be reactive to immediate challenges that occur, but to also have the long-term vision for the business and to manage the changes that lie ahead such as new technologies and the future skills of the workforce. The scale, scope and speed of industry developments and evolving regulation makes the contribution of in-house lawyers more important than ever.’

Kiyingi also enjoys actively engaging with colleagues to move the dial on diversity and inclusion. As a new member of the bank’s Global Council for Diversity and Inclusion she’s delighted to have the opportunity to bring her voice to the table. ‘It’s important that you have senior leaders really taking the initiative and driving change to create an inclusive work environment,’ she says. ‘Our data-led approach and colleague listening helps us to identify challenges and improve the experience, which has led to the launch of inclusive policies such as flexible working, menopause and caregiving responsibilities.’

Outside of work, Kiyingi still immerses herself in creativity. She is a founding member of Tate Modern’s African Art Acquisition Committee, a Council Member for the Zeitz Museum of Contemporary Art in South Africa and a member of the Patrons Board of the recently opened British Pavilion at the Venice Biennale.