Taiwan’s Truswell appoints new chairman
04 October 2012
News, Asia, Taiwan
Taiwan’s Chinatrust Financial Holdings Corp (CFHC) General Secretary Thomas Chen will reportedly assume the position of chairman at Truswell Securities Investment Trust. This follows CFHC acquiring a 98.6% stake in Truswell for NT$466 million (US$15.3 million) in August, according to the Commercial Times on October 4.
Prior to joining the management board of CHFC in 2010, Mr. Chen served as the vice chairman of the Chinatrust Charity Foundation and was responsible for Chinatrust Commercial Bank’s overseas branches in the US and Indonesia.
CFHC has also appointed Huei Ling Yu, former president of Jih Sun Securities Investment Trust, as the new general manager of Truswell, says the report.
Established in 1999, Truswell had total AUM of NT$2.5 billion as at the end of July.
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