Road to Recovery

An exercise in turn-around management in Hong Kong


Largest fund management firm in Hong Kong at the time discovered that the managing director had undertaken certain activities, which had led to heavy losses for clients.


The company took immediate action, which satisfied both the regulatory authorities and clients and made good the losses.  I replaced the previous managing director.


The team was in fact newly constituted – only six months old and the personnel required significant morale building and strengthening.  The first task was to repair the client relationships – which I was able to do with my sell-side training.  I also liaised with the regulatory authorities until they were satisfied that all the existing procedures were adequate.  I then proceeded to build the business as it had been intended by merging the resources that we could use into a full range private bank.  This included our fund managers (my previous expertise), the broking side (for advisory transactions) and the banking side of the institution.  I also initiated and instituted links with legal, accounting, trust and other professionals to provide a holistic private banking product.  All of the major functions of a private bank, including marketing, sales, the whole investment platform, portfolio modelling, client reporting, back office etc were instituted or upgraded during my tenure.  The project was handed over to my deputy and the private bank remains a very significant player today.


The private bank, being newly constituted, was at a very critical stage and would have been closed at that time had not these measures been carried out.

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