Tue, Jun 22, 2004 - Page 10 News List

Kong Jaw-sheng named chief of FSB

EXPERIENCED BANKER The man chosen to lead the Cabinet's newest agency has more than 20 years in the financial industry and foreign investment community

By Joyce Huang  /  STAFF REPORTER

"An enthusiastic banker who provides customers with the best financial services," Lo said.

He went on to say that Kong would be a "bold banker with guts, who exercises flexibility, which is exactly what the rigid local banking sector lacks."

Lo said he admired the marketing strategies Kong launched at conservative Taisugar and helped make many breakthroughs at the state-run enterprise.

He added that he hoped Kong would be able to utilize his creativity in his new post to create a new profit-making environment and help the financial sector.

Kong's expertise in managing foreign banks is expected to help the government attract foreign investors as well as aid local banks with their expansion plans, said Chen Po-chih (陳博志), chairman of Taiwan Thinktank (台灣智庫), on whose board Kong also serves.

Prior to going to work for CSFB, Kong in 1999 helped set up and then headed the Taiwan operations of Donaldson Lufkin & Jenrette Inc, which CSFB acquired in 2000.

He also helped set up the Taiwan unit of Lehman Brothers Holding Inc and acted as president from 1995 to 1999. Before then, Kong served as a senior executive at the Development Bank of Singapore from 1983 to 1987.

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