Hong Kong pension industry veteran Ka Shi Lau has handed over the management reins of BCT Group to two executives after 22 years as chief executive officer and managing director of the HK$210 billion (US$27 billion) pension and trust company, and taken a back seat as senior adviser.
The management responsibilities are now shared by Jamie Lee, who was recently hired as CEO from Sun Life Pension Trust, and Bob Lee, the deputy CEO, who has worked at BCT for 15 years.
Lau says Jamie Lee will be responsible for leading the overall management and business strategies, while Bob Lee will focus on investment aspects for schemes/funds and asset servicing.
The official transfer of duties took place on June 1.
“I’ve been in the pensions and funds industry for 23 years. For sustainability, including succession management, it’s time to move on to a new phase,” Lau tells Asia Asset Management.
“As senior adviser, I will allocate time to my industry work for the fiduciary/pension/fund services sectors, and public service, while maintaining close liaison with the government and financial regulators – doing work that create societal value and positive impact to governance, sustainability, retirement/investor protection, and further building Hong Kong as an international financial centre,” she says.
Lau also holds key positions in many industry organisations, including chairman of Hong Kong Trustees' Association, executive committee member of Hong Kong Retirement Schemes Association, and council member of the Asian Corporate Governance Association. She also serves on committees of the Securities and Futures Commission and the Mandatory Provident Fund Scheme Authority.
BCT Group is one of 12 companies in Hong Kong that provide due diligence and administrative services for members of the Mandatory Provident Fund and corporate pension schemes.