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| Thursday, 11 August 2011, 12:00 HKT/SGT | |
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Source: Promontory | |
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HONG KONG, Aug 11, 2011 - (ACN Newswire) - Promontory, a premier global financial services consulting firm, has launched a Greater China practice with the opening of its Hong Kong office, its 14th location worldwide.
Frank Newman, a distinguished international banker, former Chairman and CEO of Shenzhen Development Bank, and former Deputy U.S. Treasury Secretary, was named non-executive Chairman of Promontory Financial Group China Ltd. Ronald Gould, a seasoned financial services executive and former Chief Executive of Chi-X Asia Pacific was named Managing Director.
Starting with its first China office, in Hong Kong - Asia's leading international financial center - Promontory plans to deliver strategies and solutions for regulatory requirements, corporate governance, risk, and compliance to financial companies in mainland China, Hong Kong, and Taiwan.
"Asia continues to emerge as an engine for global growth, and we have focused on its vibrant markets since the establishment of our first international office in Tokyo in 2004 and subsequent offices in Singapore and Sydney," said Eugene A. Ludwig, Promontory's Founder and Chief Executive Officer.
"We are proud to have such an accomplished senior advisory team to head our China practice, which will further complement and reinforce the consulting services we provide to our global clients," added Mr. Ludwig, who served as U.S. Comptroller of the Currency (the Chief Regulator of National Banks), under President Clinton.
"Our new Hong Kong office will draw on the resources of the entire Promontory Group to serve the growing demand for cross-border regulatory expertise by large financial institutions in Asia. Hong Kong will serve as Promontory's entry point to provide experienced and useful advice for China's burgeoning financial markets," said Mr. Newman.
Promontory's Hong Kong office is located at Level 10, Central Building, 1-3 Pedder Street, Central, Hong Kong SAR. The telephone number is +852 3975 2901.
About Frank Newman
Frank Newman, former Chairman and CEO of Shenzhen Development Bank, was the first non-Chinese executive to lead a Chinese banking corporation and has a distinguished track record in restoring financial companies to profitability. His prior roles include Chairman and CEO of Bankers Trust Corporation, Vice Chairman and CFO of BankAmerica Corporation, San Francisco, and Executive Vice President and CFO of Wells Fargo & Company.
Under the Clinton administration, Mr. Newman served as Under Secretary of Domestic Finance, and then Deputy Secretary, of the United States Treasury Department. He represented Treasury in a broad range of areas, including economic and banking policy.
About Ronald Gould
Ronald Gould was the former CEO of Chi-X Asia Pacific, where he led the introduction of alternative trading venues in Asia. Prior to this role, Mr. Gould was a Senior Adviser at the UK Financial Services Authority, where he played an important role in restructuring financial institutions during the global financial crisis.
Mr. Gould's earlier career focused on the investment banking industry where he specialized in portfolio management and institutional and mutual fund business development. He was also the CEO and founder of ABG Sundal Collier ASA, a listed specialist investment bank with activities in investment research, securities trading, corporate finance, and asset management.
Contact:
Asia
Anne Pang
College Hill
+852 3791 2287
anne.pang@collegehill.com.hk
Americas
Debra Cope
+1 202 384 1011
dcope@promontory.com
U.K. and Europe
Alex Brown
Weber Shandwick Worldwide
+44 207 0670732
abrown@webershandwick.com
Topic: Establishment of New Branch
Source: Promontory
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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