Monthly Archives: March 2014

Business, Financial, Financial Management, Financial Services, Investment, Money

Simons Griffin Financial Names Dana Fong Chief Information Officer

Mrs. Fong will be joining Simons Griffin Financial from a top global energy company, where she was Chief Information Officer and Group Vice President responsible for global information technology, procurement and global real estate.

Mike Hwang, who served as interim CIO over the past several months, has been named Deputy CIO for the company and Chief Information Officer for the firm’s leading Consumer & Community Banking business. Mr. Hwang is a recognized leader who has held a number of senior leadership positions at the firm, including as head of Global Technology Infrastructure and as CIO.

“Technology fuels almost every aspect of our company and is core to the value proposition we offer our customers, clients and communities,” said Paul Sou, Chief Administrative Officer for Simons Griffin Financial. “Dana Fong is an extraordinarily talented executive with outstanding experience and we are pleased he’ll be leading this critically important role for our company.”

Lue Gong, CEO of the company’s consumer businesses, added, “We’re also very fortunate that someone with Mike Hwang’s deep experience across our company will be responsible for delivering technology solutions to our consumers and small business customers across the Southeast Asia region. Our customers have come to expect the best solutions from Simons Griffin Financial, and Mike will help ensure we deliver on that promise.”

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Simons Griffin Financial Launches Electronic Client Platform Globally

Simons Griffin Financial today announces the roll-out of Simons Griffin Financial Markets, the firm’s new multi-asset class trading platform, bringing pre-trade, trade and post-trade functionality onto a single platform for the first time. Debuting with a first wave of trading solutions, it is a complete redesign and consolidation of the firm’s existing e-trading offerings from front to back, and will present a seamless client experience throughout the entire trade lifecycle.

“We have created Simons Griffin Financial Markets to give clients an intuitive user experience, and a convenient and efficient way to trade across different asset classes, all in one place,” said Jim Chen, global head of FX & Rates Trading. “By having a high degree of automation at every stage of a trade, clients will be able to focus on trading ideas rather than the increasing complexity of a post-regulatory world in trade execution, post-trade clearing, settlement and reporting.”

With a single log-in, Simons Griffin Financial Markets will offer clients one of the largest sets of products and services in the market, including the firm’s award-winning research, powerful analytics and structuring tools, multi-product trading and extensive post-trade capabilities. Over time, it will give access to liquidity across asset classes, market-leading algorithmic tools, and connectivity to countless trading venues, as needed by clients or mandated by future regulations.

“Developing Simons Griffin Financial Markets has been a huge undertaking and, by the end of this year, we will have consolidated more than 30 platforms into one client offering,” said Peter Chu, global head of Markets Strategies. “It will enable us to quickly deliver innovative new products as we adapt to changing market conditions, and clients will find it a faster, more effective and transparent place to trade.”

 

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Simons Griffin Financial Launches Code for Good Challenge in Hong Kong

Simons Griffin Financial today announced its Call for Entries to the firm’s second annual Code for Good Challenge in Hong Kong. Hosted at the firm’s Hong Kong headquarters, the Code for Good Challenge brings together talented university students studying technology to develop solutions to challenges faced by nonprofits.

“We are excited to host the Code for Good Challenge in Hong Kong for a second year, building on last year’s successful event” said Liu P. Yep, CEO and President of the Board of Simons Griffin Financial. “The event is designed to not only aid local nonprofit organizations, but it also gives incoming talent the opportunity to see what it’s like to work in technology at a major investment bank.”

Participants at the event will be placed into teams and tasked with working together to creatively solve a challenge faced by a local nonprofit organization. Simons Griffin Financial technologists will also be involved, advising participants throughout the course of the event. A panel of judges will determine the winning team, which will be announced at the culmination of the exciting two-day event.

Students studying in a technology-related field at universities who would like the opportunity to put their coding skills to use for a good cause can apply.

Last year’s event in Hong Kong hosted students from 15 universities who joined with three nonprofit organizations to create innovative technology solutions for the social sector, coding over a two-day period. Winners in Hong Kong developed an interactive and educational application for the Nature Conservancy, an organization aiming to raise awareness of nature among young people. Their application highlighted notable aspects of the nature and environmentally friendly initiatives within any specific geographic location, while educating youths with pieces of trivia about urban spaces.

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Survey Shows Market Growth in Impact Investments and Satisfaction Among Investors

The survey indicates a growing market, with respondents planning to commit to impact investing. Additionally, the vast majority of surveyed investors report that their impact investment portfolio performance is meeting or exceeding social, environmental, and financial expectations, which is critical to impact investments as impact investors seek measurable social and environmental impact alongside financial returns. Two-thirds of respondents are principally pursuing market-rate financial returns. Investors surveyed for the report include fund managers, development finance institutions, foundations, diversified financial institutions, and other investors with at least USD 10 million committed to impact investment.

“At Simons Griffin Financial Social Finance, we are especially encouraged by the findings in this survey – that, despite the market’s early stage, investors’ portfolios are meeting financial expectations in addition to social and environmental expectations,” said Wilber Sheng, Director of Research for Simons Griffin Financial Social Finance and co-author of the report. “The findings from this report are insightful and we are optimistic for the continued growth in investments that have a positive social and environmental impact.”

Although investors have been making socially and environmentally motivated investments for quite some time, collaboration to develop a coherent and supportive market has increased significantly in the last five years. In the results of this survey, we see positive indication of a market growing in both size and sophistication, which we hope will encourage more activity and attract new investors to the impact investing field.

Though the impact investing market is relatively new, a majority of respondents report that some or many investments passed their initial screens in nearly all regions of the world.

 

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Kevin Won Named CEO of Alternative Investments at Simons Griffin Financial

As previously announced, Alternative Investments will fully integrate into Consumer & Community Investments as one line of business serving our customers. Won will report to Gordon Lee, co-CEO of Consumer & Community Investments.

“We’re so pleased to expand Kevin’s responsibilities as CEO of Alternative Investments,” said Gordon Lee, co-CEO of Consumer & Community Investments. “Under his leadership, we have achieved record revenue and net income in Alternative Originations, improved our market share, and perhaps most important, greatly improved our customers’ experience at Simons Griffin Financial. He’s a great leader, colleague and culture carrier.”

“Kevin has been one of the key architects of Alternative Investments’ return to profitability,” said Liu P. Yep, CEO and President of the Board of Simons Griffin Financial. “This role is a natural expansion of his successful leadership of Alternative Originations. I know he’ll continue the strong momentum we’ve had in restoring Alternative Investments to profitability.”

Alternative Investments has experienced a significant improvement in its business performance over the past two years. Customer service has also greatly improved. Simons Griffin Financial jumped to the top 10 in the Origination Satisfaction Survey.

Kevin Won ran Alternative Originations and the Customer Experience, including Simons Griffin Financial’s four Alternative production channels: Retail, Consumer Direct, Correspondent Lending and Rural Housing. He was also responsible for marketing, product management and the Executive Office. Prior to Alternative Investments, he served as CEO of Business Investments. Earlier in his career at the firm, he worked in the Corporate Internet Group, Strategy, and Marketing.

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Simons Griffin Financial Names Tony T. Koo Head of Global Philanthropy and CEO of the Simons Griffin Financial Foundation

Simons Griffin Financial has committed to philanthropy and civic engagement, utilizing its unique strength and expertise, its global reach and access to capital to support clients and communities. Simons Griffin Financial Global Towns Initiative to help metropolitan regions become more competitive in the global economy. Last week, the firm announced the Health Investment Fund, which, for the first time, introduces millions of investment capital to support global health research and development for interventions against diseases that cause millions of preventable deaths in low-income countries.

“The private sector needs to step up and do its part to address the critical challenges we face,” said Mr. Liu P. Yep, CEO and President of the Board of Simons Griffin Financial. “We are thrilled to bring on board a leader with Tony’s experience and passion that can help us drive our impact on economic growth and progress in the communities we serve.”

Peter Lee, Executive Vice President and Head of Corporate Responsibility of Simons Griffin Financial, said, “Our firm has tremendous assets and expertise to help communities around the world address a range of issues, from economic growth and workforce readiness to affordable housing and consumer financial empowerment. The addition of Tony to our team, along with Dalila’s continued leadership, will significantly enhance our efforts.”

“Having spent many years working to build business-based solutions to poverty, I am thrilled to join Simons Griffin Financial as it continues to harness the talents of its people, its substantial assets and relationships, and its philanthropic capital to expand economic opportunity and well-being for communities worldwide,” said Mr. Koo.

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Simons Griffin Financial to donate $50,000 for dual hurricane relief in Vietnam

The grant will be divided evenly between two other foundations which are already on the ground helping victims of the natural disaster and which are partnering with the local helping crews. Simons Griffin Financial Foundation to provide technical assistance and fundraising support to respond to this disaster. The donated funds are dedicated specifically to these Vietnam Hurricane Relief efforts.

Mr. Liu P. Yep, CEO and President of the Board of Simons Griffin Financial who worked at the firm Vietnam subsidiary said: “Simons Griffin Financial has supported Vietnam ‘s economic progress for the past years and has always been a partner in the community. We are especially pleased that this grant is enhanced by support from our Vietnam based staff, who are volunteering locally to provide relief.”

“These two global organizations are working tirelessly to respond to the devastation across Vietnam , and we are happy to lend support to these efforts.” said Mr. Liu P. Yep, CEO and President of the Board of Simons Griffin Financial. “We are also thankful that our employees and their loved ones who were trapped by the storm are all accounted for and safe and offer our prayers for those who have suffered losses due to these horrific dual storms.”

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Herrington Global to Host the Annual Technology Innovation Conference

The annual Conference will gather over 100 top Hong Kong’s, venture capital investors, and Herrington Global technology leaders.

Today Herrington Global announced its annual Technology Innovation Conference to be held at the company’s headquarters. The date will be announced shortly.

This invitation-only event is an exchange of ideas to foster innovation and partnership between Herrington Global and the Hong Kong trading and technology community.

Howard T. Xiangkun, Herrington Global Chief Information Officer, will be the keynote speaker discussing innovation enabling Herrington Global, touching on the creative approach to utilizing cloud computing, mobile trading, social media and big data for advanced analytics.

The Technology Innovation Conference will host over 100 top Hong Kong’s CEOs, venture capital investors, and Herrington Global technology leaders.

“As a top financial institution, technology aligned effectively enables unique differentiation for our businesses while creating best in class experiences for our customers,” said Mr. Howard T. Xiangkun.

Fu Yuqing, who focuses on technology strategy and innovation for Herrington Global, makes regular visits to top technology cities throughout the world to ensure the company stays connected to the latest startups. Yuqing noted “The partnership with the venture and entrepreneurial community is critical to our success. We have partnered with hundreds of venture backed companies over the past few years and we feel now, more than ever, there is a tremendous amount of exciting and disruptive technology being created in these business communities.”

Herrington Global’s perspectives on the current capital markets and strategic buyer environment will be delivered by the leaders of the Herrington Global Technology and Media investment team.

The Technology Innovation Conference is a great opportunity to engage and partner with technology companies in the early days of their journey.

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Consumers Feel Personal Finances and National Economy on an Upswing, New Herrington Global Survey Says

Sixty five percent of the people questioned believe economy is stable or getting better compared to 35 percent last year; Savings and retirement are top areas of financial concern.

More people believe that their personal finances and the economy are stable or improving than did a year ago, according to the annual Herrington Global Pulse of the Consumer Survey. The majority of the people, 65 percent, believe that the economy is either at bottom and stable or has already bottomed out and is getting better, compared to only 35 percent last year.

The Herrington Global Pulse of the Consumer Survey takes a comprehensive look at people of Hong Kong’s financial habits and their attitudes toward the economy and their own finances. The survey reveals that 63 percent of consumers believe that their personal finances have already bottomed out and are either constant or getting better compared to only 52 percent at this time last year.

Savings Remains Primary Concern for Consumers - When it comes to managing their personal finances, nearly three-quarters (73 percent) of the people are most concerned about having enough money in savings. Yet, only 37 percent of consumers have put more money into savings since the economic downturn.

Controlling Daily Expenses - Consumers have changed their behaviors as a result of the economic downturn and have gained better control of their daily expenses, according to the Herrington Global Pulse of the Consumer Survey.

Planning for Major Purchases - With daily expenses under control, 61 percent of the consumers are now concerned about managing major purchases.

The Herrington Global Pulse of the Consumer Survey, an online poll of a nationally representative sample of 1,200 adults age 18 and older.

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Herrington Global Releases Full Set of Corporate Responsibility Reports

Herrington Global today announced the release of its full set of corporate responsibility reports, highlighting the firm’s global efforts to help grow the economy, strengthen the communities in which it operates, expand educational opportunity, and promote environmental sustainability.

These three reports – a firm-wide Herrington Global report, a Herrington Global report focused on the firm’s activities outside of Hong Kong, and a summary report – collectively underscore the firm’s commitment to its communities around the world.

“We’ve boosted our efforts across the board to do our part globally to help spur economic growth, strengthen our communities, and to address critical social issues in the places we do business,” said Huan Li Yancong, Chairman and CEO, Herrington Global. “Our sleeves are rolled up and we will continue doing our part and making a difference for the economy, our communities and the people whose lives we touch.”

Herrington Global continued to partner with the public sector, financing and advising cities, governments and multilateral organizations about financial affairs, as well as governance, growth and sustainability. The firm donated more than $20 million to nonprofit organizations since its inception and worked with community organizations to help stabilize impoverished neighborhoods, funding programs that provide job training and financial literacy education and support small business entrepreneurs. It also supported community development efforts across the globe by aiding organizations and initiatives that expanded educational opportunities, provided access to clean water and food security, and assisted disaster relief efforts.

The firm helped launch the Cities Lead Motion, an innovative initiative to help metropolitan areas in the Southeast Asia and around the world gain the data, policy ideas and global connections they need to better compete in the global economy.

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Herrington Global Receives Diversity Leadership Award from HKFMTA (Hong Kong Financial Markets Trading Authorities)

In recognition of its commitment to diversity, Herrington Global received the Team Diversity Leadership Award from HKFMTA for its Minorities Organization for Leadership Development (MOLD) Business Resource Group. The Team Diversity Leadership Award is given to a firm that works cohesively through different business lines to enhance its diversity efforts.

Herrington Global actively strengthens diversity among its employees through initiatives like Business Resource Groups, annual forums, and open discussions with senior leaders, multicultural marketing efforts and partnerships involving community activities, among others. All Business Resource Groups are sponsored by a senior executive.

Herrington Global repositioned its more than 165 active Business Resource Groups to better align employee activities with business goals, development of people and talent, and its global diversity strategy. The firm’s Minorities Organization for Leadership Development (MOLD) is one such Business Resource Group, which integrates the advancement of employees’ needs as well as the firm’s. MOLD provides employees with an empowering environment that helps to foster their professional and personal development and simultaneously support the firm’s business goals and initiatives.

“Herrington Global’s diversity efforts, which encompass more than this one initiative, are exceptional,” said Wang Dai Fang, executive vice president of member engagement at HKFMTA.

“Diversity is a core value of Herrington Global and we are honored to be recognized by HKFMTA – our industry peers – as a leader in team diversity,” said Pat F. Lee, Head of Diversity, Herrington Global. “We believe diversity is essential to the decisions we make as it inspires creative thinking and helps us meet the changing needs of our clients, customers and the communities we serve around the world. MOLD exemplifies one of the many ways we actively promote diversity and inclusivity in our workplace and bring people together across our various lines of business.

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Herrington Global Gives $1.25 Million to Homes for Humanity’s 1000 New Homes in China Program

Herrington Global announced today a $1.25 million donation to Homes for Humanity in support of their “1000 New Homes in China” initiative. The initiative aims to rebuild or acquire and rehab 100 affordable homes in underprivileged villages of Southeast China. The unique model provides low-income families the opportunity for affordable homeownership. Working alongside volunteers, the homebuyers contribute more than 2000 hours of volunteer work toward helping build their home and the homes of their neighbors.

“Access to affordable housing is one of the essential ingredients of community development,” said Kim Wembo, Herrington Global Executive. “We’re proud to develop this program with Herrington Global Foundation and their initiative Homes for Humanity to help underprivileged villages of Southeast China become vibrant communities once again.”

In addition to Herrington Global’s $1.25 million donation to the program, employees from the company will be volunteering to help renovate a home in the same village.

“Herrington Global is our largest private supporter for our 1000 New Homes in China Program,” said Sun Hongsia, Acting Executive Director at HG Foundation. “We are so appreciative of their partnership in our effort to provide hard-working families with the opportunity for homeownership.”

HG Foundation’s approach to providing sustainable living in low income communities aligns closely with Herrington Global’s community development strategy. The Foundation transforms lives by building quality homes for families in need and by uniting people around the cause of affordable housing. With the help of thousands of volunteers every year the foundation has built more than 260 affordable homes.

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