UPWARD GAZE:Wu Tang-chieh said a goal was to crack the nation’s top five profit-making state-run financial firms, while innovation and exports were other targets

Taipei Times
Date: Sep 13, 2016
By: Crystal Hsu / Staff reporter

Former deputy minister of finance Wu Tang-chieh (吳當傑) yesterday took over as chairman of state-run Hua Nan Financial Holding Co (華南金控), saying he would underscore risk control and legal compliance so the conglomerate can become a top-five player in Taiwan.

Wu, who was appointed as state-owned Land Bank of Taiwan’s (土地銀行) chairman one week after the change in governments on May 20, filled the vacancy left by Shiu Kuang-si (徐光曦).

Shiu was appointed to the helm of Mega Financial Holding Co (兆豐金控) on Aug. 16, but stepped down two weeks later to take responsibility for a failure of compliance by Mega International Commercial Bank’s (兆豐銀行) New York branch that led the New York State Department of Financial Services to impose a fine of US$180 million.

“Corporate governance is my focus and strength after more than three decades of government service in related fields,” Wu said at a handover ceremony.     [FULL  STORY]