Jesse Ding To Run EnTie

Jesse Ding has been named CEO of Taiwan-based EnTie Commercial Bank (TWSE: 2849), which is in the process of selling a 51% ownership stake to The Longreach Group. Ding previously served as president of Taipei Fubon Bank.

PRESS RELEASE
The Board of EnTie Commercial Bank (TWSE: 2849) today announced that Mr Jesse Ding has been appointed as CEO, effective December 3, 2007.

 

During a 27 year career in the financial services industry Ding was previously President of Taipei Fubon Bank, President and CEO of Taipei Bank, Country Head of Chase's Taipei branch, Vice President of Bankers Trust Company in Taipei, and Vice President at CitiBank in Taipei and Hong Kong.

 

Mark Chiba, Chairman of the Board of EnTie Commercial Bank, said, “We are delighted to welcome Jesse Ding to lead EnTie Commercial Bank in its next phase of development. Our goal is to build EnTie Commercial Bank to be a leading financial institution in Taiwan and look forward to working with Jesse to capitalise on the opportunities that exist.” Mr Chiba is also Group Chairman and Partner of The Longreach Group which is acquiring a 51% stake in EnTie Commercial Bank.

 

Ding previously led the transformation of Taipei Bank and its subsequent successful merger with Fubon Bank. During his tenure at Taipei Bank, the bank's market value rose from NT$30.2 billion to NT$80.8 billion in less than three years. The merged group, Taipei Fubon Bank, has experienced strong growth in its corporate banking and wealth management businesses, and is now recognised as a major force in banking in Taiwan.

The Longreach Group is an investment firm established in October 2003 to focus on investments in strategically driven private equity opportunities. The distinctive proposition behind Longreach is to create exceptional investment opportunities focusing on the North Asian region, by matching relationship reach and local cultural effectiveness with globally benchmarked and competitive returns. In developing this approach, Longreach is focused on strategically driven private equity investments as its signature investment style. Longreach currently has US$750 million of committed funds under management and operates primarily out of offices in Hong Kong and Tokyo.

EnTie Commercial Bank, (TWSE: 2849) is a medium-size commercial bank in Taiwan with a strategic focus on the real-estate financing, SME, and consumer segments. EnTie has a distribution network of 53 branches across Taiwan, and has NT$313 billion in total assets as of December 2006