The Ministry of Finance said last night that the Cabinet had tapped a former Taipei City official and a former investigation bureau chief to lead two financial holding companies in which the government has sizable stakes.
Wang Rong-jou (王榮周) will lead Mega Financial Holding Co (兆豐金控) and former Taipei deputy mayor Chen Yu-chang (陳裕璋) will lead First Financial Holding Co (第一金控), a ministry official said on condition of anonymity.
Chen, who served as Taipei deputy mayor under then-mayor Ma Ying-jeou (馬英九), will replace First Financial chairman Michael Chang (張兆順).
Wang, former Ministry of Justice Investigation Bureau chief, will replace Joseph Lyu (呂桔誠) as head of Mega Financial Holding.
First Financial Holding is the nation’s ninth-largest financial service provider by assets and posted NT$12.49 billion (US$412.25 million) in after-tax earnings last year.
Wang, 62, has 30 years of experience in the financial sector. He served as chairman of Taiwan Asset Management Co (台灣金聯資產管理) from 2004 to last year. He has also served as vice minister of finance.
Minister of Finance Lee Sush-der (李述德) yesterday said both candidates were capable.
“They are both suitable candidates and are waiting for Cabinet approval to finalize their official appointments,” Lee said in a telephone interview.
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