Michael Chang (
"I was dubbed a `terminator by merger' and some have speculated that I am going to terminate First Financial," Chang said in his inauguration ceremony yesterday. Unlike the banks he used to head, First Financial is in good condition and he is there to revamp the company into the nation's leading financial holding firm, Chang said.
Chang yesterday officially took over the helm of First Financial and its flagship subsidiary First Bank (
Chang made the remarks to relieve market speculation, in light of the fact that the then-ailing Bank of Overseas Chinese (
It is likely that First Financial will be able to acquire competitors and become a leading financial player, Chang said.
Increasing the number and efficiency of a bank's overseas operations is also key to becoming a leading player, Chang said. The bank will seek foreign partnerships on innovative products and platforms to strengthen its wealth management business, he said.
First Bank currently has 16 overseas outlets.