50 Years of Asia: Kartika Wirjoatmodjo, Mandiri
9 May, 201950 Years of Asia: Joseph Yam
9 May, 2019Euromoney, May 9 2019
Read the full article here: https://www.euromoney.com/article/b1f7pnx05dytpn/daniel-wu-change-for-survival
CTBC, through its legacy institutions, started out as Taiwan’s first private securities underwriter in 1966. It evolved into a trust and investment business in 1971, brought the first credit cards to Taiwan in 1974 and in 1992 became a private commercial bank when licences were first awarded. In 2002, it became a financial holding company when that licensing regime opened up.
In recent years, the group’s priority has been expanding into insurance, buying the Taiwanese operations of Metlife, Manulife and Taiwan Life in the space of five years. Along the way it changed its name from Chinatrust in 2013.
“China is too confusing a name,” says CTBC president Daniel Wu. “In Indonesia people think we are from China and in Canada people think we are a trust company.”
But it wasn’t all bad.
“When you go to China and see high-ranking officers, they say: ‘Chinatrust must mean trust in China.’ So that’s good.”
Full article: https://www.euromoney.com/article/b1f7pnx05dytpn/daniel-wu-change-for-survival?copyrightInfo=true
