AMTD appoints financial regulatory experts Frederic Lau and Ros Lam to senior management team
On October 5, AMTD Group announced the appointment of financial regulatory experts Mr. Frederic Lau and Mr. Ros Lam as senior executives as well as members of the Global Advisory Committee (GAC). Mr. Frederic Lau is a seasoned banker who previously served as the senior officer at the Hong Kong Monetary Authority (HKMA) & the Office of Thrift Supervision (OTS), the US Treasury Department. He subsequently joined Dah Sing Banking Group, a listed company in Hong Kong, as its Executive Director and Group Risk Director. He was also a member of the Board of Directors of Dah Sing Bank (China) and Shenzhen Development Bank (subsequently renamed as Ping An Bank). Mr. Lau will serve as the CEO of Investment Banking of AMTD Group. Mr. Ros Lam was the Assistant Commissioner of Insurance at the Office of the Commissioner of Insurance (Currently The Insurance Authority) and will join AMTD as the Chief Strategy Officer as well as Vice Chairman of the Global Advisory Committee. Benefiting from the extensive experience of Mr. Lau and Mr. Lam in the international and domestic regulatory arena, their appointment will further enhance the capability of AMTD in corporate governance, strategic corporate development and risk management.
From left to right: Mr. Frederic Lau, a seasoned banker who previously served as senior officer at the Hong Kong Monetary Authority (HKMA) & the Office of Thrift Supervision (OTS), the US Treasury Department, will serve as CEO of Investment Banking of AMTD and a member of the GAC; Mr. Ros Lam, Former Assistant Commissioner of Insurance at the Office of the Commissioner of Insurance (Currently The Insurance Authority), will serve as the Chief Strategy Officer of AMTD Group and Vice Chairman of the GAC
Mr. Frederic Lau has over 30 years of experience in regulating and managing financial institutions, especially in areas such as industry development, regulatory framework, risk management and internal control. He served in Hong Kong and US regulatory agencies for years, including the Hong Kong Monetary Authority and the Office of Thrift Supervision (subsequently merged with the Office of the Comptroller of the Currency, OCC), the US Treasury Department. During the 1980s and early 1990s, Mr. Lau was one of the few Chinese supervisors at the OTS who was responsible for the examination of the major savings banks in the US. In 1994, Mr. Lau was named by the OTS as a capital markets specialist. He served as the Chief Representative in New York, the Head of Banking Policy Division and the Head of Banking Supervision Division at the Hong Kong Monetary Authority. During his tenure with the HKMA, he set up the HKMA derivatives team, as well as drafted and issued the HKMA’s “Guideline on Risk Management of Derivatives and Other Traded Instruments”. In addition, Mr. Lau was an Executive Director and Group Risk Director at Dah Sing Banking Group, a member of the Board of Directors of Dah Sing Bank (China) and Shenzhen Development Bank (subsequently renamed as Ping An Bank). He also served as a Managing Director of Promontory Financial Group, a global leading financial consulting company, and the former Chairman of the Advisory Committee for the Department of Economics and Finance, the City University of Hong Kong. Mr. Lau was also a member of the Board of Trustees of Global Association of Risk Professionals (“GARP”).
Mr. Ros Lam has 30 years of insurance regulatory experience. He served as the Assistant Commissioner of Insurance (second in command to the Commissioner) of the Office of the Commissioner of Insurance (Currently The Insurance Authority) since the 1990s. During his tenure, he was responsible for regulatory policy and development, as well as prudential supervision of life and general business insurers and occupational retirement schemes respectively, where he has gained comprehensive and extensive regulatory and management experience in these fields. Mr. Lam previously served as the Head of Banking Policy (Special Duties) Division of the HKMA and worked for Ernst & Young. He is a Fellow of the Chartered Insurance Institute (UK), Fellow of the Hong Kong Institute of Certified Public Accountants and Fellow of the Association of Chartered Certified Accountants (UK).
“Mr. Lau and Mr. Lam have accumulated deep industry experience with a resourceful network in the financial market, especially in relation to the supervision and management of financial institutions in Hong Kong and across the globe. Their appointment as senior management and members of the Global Advisory Committee of AMTD Group are beneficial to the Group’s overall strategic development, internationalization, technology and innovation development as well as corporate governance. Eventually, this can further enhance the corporate governance structure and prudent risk management system in AMTD, so that the Group can further expand its global footprint,” said Mr. Calvin Choi, Chairman of AMTD Group.
AMTD Global Advisory Committee is a non-standing committee of AMTD Group, providing consultancy and advisory to the Board of Directors. Members of the GAC consist of profound experts with prominent reputations both in China and around the world and have extensive experience and network in political, economic, business and finance fields. Currently, the GAC is chaired by Dr. Annie Wu Suk-ching, SBS, JP, who is the also a Standing Committee Member of CPPCC, Lifetime Honorary Board Member of World Trade Centres Association, Honorary Chairperson of Beijing Air Catering Limited; the Vice Chairman of AMTD GAC is Raymond Yung, he is also a Board member of Citibank Hong Kong Limited, L.R. Capital Group CEO, Board member of Guangzhou Rural Commercial Bank. Other GAC members include: Marcellus Wong, a member of the Joint Liaison Committee on Taxation of the Government of the HKSAR, former President of the Taxation Institute of Hong Kong, Vice Chairman of the Board of Directors of AMTD Group; Gao Yu, Managing Director of Morgan Stanley Private Equity, Co-Head of MSPE's China Investment Operations, as well as Soul Htite, a leader in global fintech industry, Technology Pioneer awardee of the World Economic Forum, Co-founder of Lending Club, the founder and CEO of leading Chinese fintech institution Dianrong and etc.
In November 2016, the First Global Advisory Committee Meeting was successfully held in Hong Kong