BANKING
CDHFC appoints Bertamini
China Development Financial Holding Corp (CDFHC, 中華開發金控) on Wednesday appointed Stefano Paolo Bertamini as its new president, the first foreigner to lead a local financial holding company. The appointment of the former chief executive officer of Saudi Arabia-based Al Rajhi Bank would still need approval of the Financial Supervisory Commission, CDFHC said in a regulatory filing. Bertamini worked at Standard Chartered Bank from 2008 to 2014 and with General Electric Co between 1986 and 2008, the company said. Former CDFHC president Alan Wang (王銘陽) resigned in March, with acting president Hsu Daw-yi (許道義) filling his position since then. While foreigners in senior positions in the nation’s financial firms are rare, CDFHC said that it hopes to leverage Bertamini’s experience in retail and global banking to expand its business to overseas markets.
Real Estate
Tianmu luxury homes soar
Luxury home transactions in Taipei’s Tianmu (天母) went up this year, thanks to the area’s proximity to foreign educational facilities and its popularity among wealthy Taiwanese, Taiwan Realty Co (台灣房屋) said last week. The number of luxury home deals increased 50 percent in the first two quarters, with transactions totaling NT$3.15 billion (US$106.65 million), nearly twice the amount for the whole of last year at NT$1.75 billion, Taiwan Realty said. The results showed that Tianmu remains popular among home buyers even though storefronts in the area have difficulty finding tenants due to capital outflows in the past few years, Taiwan Realty research center head Charlene Chang (張旭嵐) said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
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