It is unknown to the citizens of Hong Kong that the Aodong Trading Group stopped purchasing industrial products from Warsaw Pact member states due to pressure, but a piece of news from the Far East Exchange made the Hong Kong media abuzz.
According to an announcement from the Far East Exchange, since Ka Wah Bank and Union Bank will merge, trading of the two banks will be temporarily suspended until the merger of the two banks before resumption of trading.
These two banks are not just ordinary people. They are both among the top ten local banks in Hong Kong. Now the merger of the two will definitely disrupt the current local bank structure in Hong Kong.
Although HSBC has been involved in a lot of scandals recently, it is still the largest local bank in Hong Kong by market capitalization. Xin Jian, East Asia, and Dow Heng ranked second, third, and fourth, Sun Hung Kai ranked fifth, and Far East Bank ranked sixth.
The seventh and eighth ones are K. Wah and Youlian, the ninth is Wing On Bank, and the tenth is Nanjiang Bank (formerly Xianghua Bank), which has recently made a comeback.
As for Hang Seng Bank controlled by the Rose Consortium, it ranked 11th, Industrial Bank controlled by Blue Maple Holdings ranked 12th, Hang Lung Bank controlled by Mitsui ranked 13th, and Xiangjiang Asian Commercial Bank
Ranking fourteenth, De'an Bank controlled by Bank of China ranked fifteenth, and Guangqing Bank controlled by Nanyang Consortium ranked sixteenth.
These sixteen major banks are also the main banks in Hong Kong. In addition, the banking institutions are basically branches of banks from various places in Hong Kong.
With this merger of the two, the 16th largest local bank will become the 15th largest, and the merger of the two will directly break into the top five. Sun Hung Kai is likely to be squeezed out. By then, the five largest local banks in Hong Kong, except HSBC, will
All belong to the Tung Wah Association.
Within the Xinjian Department, there were not many opinions on the merger of the two major banks. However, after the merger, there was a dispute between the top management of Yuntao Holdings and Xingsha Holdings.
In the conference room of Wheelock Building, looking at the senior executives of the two major groups present, Li Jianhui said: "The merger of the two major banks is an integration of our industrial resources and reduces our management costs.
After the merger of Union Bank and K. Wah Bank, the name K. Wah will continue to be used. You two are only shareholders of this bank. This bank has formed an independent company with a fourteen-level structure. Like Phoenix, Huaxin and other companies, it is not
Subject to any holding group.
The current general manager of Ka Wah Bank has been transferred to Vienna to serve as the president of West China Bank, while the general manager of Union Bank has been transferred to Perth to serve as the president of Lipbank.
As for the post of bank president and chairman of the board of directors of Ka Wah Bank after the merger, Du Ningxue will take over."
Liu Xiaoyan and Shi Shaoming did not expect that Li Jianhui would directly classify the merged bank into an independent company, which made them feel as if they had lost their wives and lost their troops.
Before the merger, although the two banks only had twelve-level structures, they were still part of their holding group, and their market values were close to 10 billion Hong Kong dollars. Even Nanjiang Bank was left behind by them.
Liu Xiaoyan, who was somewhat unwilling to accept it, said: "Li Sheng, currently there is no precedent for the major banks in our Xinjian department to become independent companies. I think that placing K. Wah Bank under our Yuntao Holdings will be more conducive to the development of K. Wah Bank."
.
Moreover, Ningxue's current position is Vice Chairman of the Board of Directors of Lipu Holdings Group and Executive Vice President, so it would be unfair to transfer her back to her position.
Letting her serve as the Vice Chairman of the Board of Directors of Yuntao Holdings Group, the Executive Vice President and the President of Ka Wah Bank can avoid the suspicion of her being demoted. Moreover, by serving in Yuntao Holdings, she can also assist me in taking charge of the Greater China region of our Xinjian Department.
thing."
Shi Shaoming quit as soon as he heard this, and also stated that K. Wah Bank originally belonged to Xingsha Holdings. Since the name of K. Wah was still used after the merger, this bank should be managed by Xingsha Holdings.
And unlike Yuntao Holdings, which has a vice chairman of the board of directors and executive vice president of the group, this position has been vacant at Xingsha Holdings, and Du Ningxue can directly take up this position after being transferred back.
"You two, please stop fighting. Our Xinjian department has absolute control over the companies. As independent companies, currently there are only Huaxin, Huahong, Phoenix, Donghua Communications and Xiangjiang Energy.
The status of each of these companies is very important in our Xinjian Group, and the status of their president is no lower than that of the vice chairman of the board of directors of these holding groups.
Du Ningxue serves as Chairman of the Board of Directors of Ka Wah Bank and President of the Bank. There is no such thing as any imbalance in positions.
Grain defects
In addition, in charge of Ka Wah Bank, she has more autonomy without the pressure of the CEO of the holding group.
As for your two major holding groups, your main focus is on making several of your major industries bigger and stronger.
We must know that the industrial strength of your two groups is not low. Yuntao Holdings owns Xiangjiang Airlines, Jade Lion Group, Traditional Chinese Medicine Group, and Taoda Group.
Xingsha also has Hongyu Clothing, Jingyi Electrical Appliances, Jiayi Film and Television, and Jiayi Culture Media.”
Liu Xiaoyan and Shi Shaoming are naturally aware of the strength of the companies under their control, but neither of them thinks they are responsible for many industries.
As a senior executive in Xiangjiang, I have always been obsessed with the two industries. Seeing that there was no chance for the bank, I immediately turned to the real estate side.
The reason is also quite good, that is, the real estate market in Japan and ASEAN is heating up rapidly, and Yuntao Holdings and Xingsha Holdings can definitely get a share of the pie.
Li Jianhui naturally vetoed this without hesitation. He already owned enough real estate companies, and he would never let each holding group establish a real estate group.
"I know you also hope that the group can gain higher profits, but we can't all think about making quick money, otherwise our Xinjian system may suddenly collapse.
I also hope that you can concentrate on developing the current industry and make the main business better and stronger, instead of blindly pursuing the hugeness of the industry.
For example, Huaying Holdings has only one major asset, Huihong Group, but there are several holding groups with a total market value comparable to Huaying Holdings."
They can only be speechless about this. There is only one example of Huihong Group. Even the retail department stores that have developed rapidly in the past two years are difficult to compete with it. Even Crawford is powerful enough, but its market value is not as high as that of Huihong Group.
two-thirds of.
Fortunately, several major companies under Wheelock Holdings are indeed strong, and their combined market value can suppress the Huihong Group. Whether it is Yuntao, Xingsha, or even Huangpu Holdings, the combined market value of its listed companies cannot compare to one Huihong Group.
group.
Li Jianhui did not give Liu Xiaoyan and others a chance to continue to defend the matter, and directly asked them to properly handle the merger of the two banks and make reasonable arrangements for the management of the two banks.
If the management is not easy to arrange, report it directly to the assistant office, and Li Jianhui will make reasonable arrangements at that time.
At the same time, Liu Xiaoyan was asked to seize the time to prepare for her trip to the north and try her best to ensure the development of Tung Wah Hui industry in the northern market.
At the same time, Shi Shaoming is also required to lead a team in the near future, together with Ye Jiexin, President of Jiayi Culture Media Group, Liu Qiulin, President of Hongyu Clothing Group, Xu Zhichao, President of Jingyi Electrical Appliance Group, and some senior executives of Xingsha Holdings, to inspect ASEAN.
At the same time, Weili will also lead the presidents of Wheelock Land, Lane Crawford, Watsons, Tesco Electrical Appliances, IKEA Convenience Stores, and Tesco Logistics, as well as some senior executives of the group, to inspect the two major Commonwealth markets of Canada and Australia.
Chen Huiya will lead the presidents of Hutchison Real Estate, Huangpu Shipping, Huangpu Steel, Jinhong Jewelry, Debao Trading Company and some senior executives of the group to inspect the Japanese and Korean markets in Baodao.
This is also the largest market inspection activity of the Xinjian Department this year, and it is also a response to the events of the past few days.