AmCham biz.hk Dec 2016 by The American Chamber of Commerce in Hong Kong

December 2016

PUTTING YOUR CHILD 1

ACHIEVING MORE THAN THEY BELIEVE THEY CAN

CAMPUS OPENING SEPTEMBER 2017! For students 5 to 18 years old

Individualized Learning Plans from Age 5

Secondary and readies them for their future careers as ƐĐŝĞŶƟƐƚƐ͕ ĞŶŐŝŶĞĞƌƐ ĂŶĚ ďƵƐŝŶĞƐƐ ůĞĂĚĞƌƐ͘

Stamford’s Outstanding Results Our students at our Singapore campus consistently ĂĐŚŝĞǀĞ ĂďŽǀĞ ƚŚĞ h͘^͘ ďĞŶĐŚŵĂƌŬ ŝŶ ƚŚĞŝƌ D WΠ assessments. In Elementary, our students’ scores in Reading ĂŶĚ DĂƚŚ ĂƌĞ ŐƌĞĂƚĞƌ ƚŚĂŶ ƚŚĞ ďĞŶĐŚŵĂƌŬ ďǇ ŽŶĞ ǇĞĂƌ on average. Progressing to Secondary, Stamford students ƉĞƌĨŽƌŵ ĂďŽǀĞ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶ DĂƚŚ ĂŶĚ ZĞĂĚŝŶŐ ďǇ ƚǁŽ or more years on average. In fact, the average Stamford 'ƌĂĚĞ ϲ ƐƚƵĚĞŶƚ ƉĞƌĨŽƌŵƐ ĂďŽǀĞ ƚŚĞ ďĞŶĐŚŵĂƌŬ ĨŽƌ 'ƌĂĚĞ Every student at Stamford undergoes standardized

10 students in Reading, four grade levels above the norm.

Measures of Academic Progress® (MAP®) assessments

These outstanding MAP® results combined with the

in Reading, Math and Science twice a year, allowing

/ŶƚĞƌŶĂƟŽŶĂů ĂĐĐĂůĂƵƌĞĂƚĞ ŝƉůŽŵĂ WƌŽŐƌĂŵ ŚĂǀĞ ůĞĚ

us to measure their academic growth throughout

90% of our graduates from Stamford’s Singapore campus to

the school year and from year to year. We deliver

acceptance to their 1st choice university.

individualized learning plans based on each student’s ŝŶƐƚƌƵĐƟŽŶĂů ůĞǀĞů͕ ĞŶƐƵƌŝŶŐ ĞǀĞƌǇ ĐŚŝůĚ ŝƐ ƐƚƌĞƚĐŚĞĚ ĂŶĚ challenged appropriately.

Preparing Students for the Future Stamford’s unique problem-based STEMinn (Science, dĞĐŚŶŽůŽŐǇ͕ ŶŐŝŶĞĞƌŝŶŐ͕ DĂƚŚ Θ /ŶŶŽǀĂƟŽŶͿ WƌŽŐƌĂŵ challenges students from age 5 in these disciplines ƚŚƌŽƵŐŚ ĐƌŝƟĐĂů ƚŚŝŶŬŝŶŐ ĂŶĚ ƌĞĂůͲǁŽƌůĚ ĂƉƉůŝĐĂƟŽŶ͘ >ĂǇŝŶŐ ƐƚƌŽŶŐ ĨŽƵŶĚĂƟŽŶƐ ŝŶ ƚŚĞƐĞ ĂƌĞĂƐ ƉƌĞƉĂƌĞƐ ŽƵƌ Elementary students for success in the highly challenging WŚǇƐŝĐƐ͕ ŝŽůŽŐǇ ĂŶĚ ŚĞŵŝƐƚƌǇ ĐŽƵƌƐĞƐ ŽīĞƌĞĚ ŝŶ

Discover more at

Open House January 18-19, 2017 www.sais.hk | +852 2500 8688

50 years helping you o Y Ë Â² nbb½ We can’t wait to show you around

Go knowing

www.crownrelo.com.hk

Relocating should be exciting and rewarding for everyone. Our experience and knowledge of worldwide relocations, is shared by all our people in more than 200 locations. And we’ll always be there to help you get the most from your relocation.

Tel: +852 2636 8388 hongkong@crownrelo.com

December 2016

Contents

Vol 48 No 12

Publisher

Richard R Vuylsteke

Editor-in-Chief Kenny Lau

Assistant Editor

COVER STORY

In a new era of growing protectionism, global trade – a key driver of economic growth in Asia – is bound to become more subdued – an enormous challenge in the fight for economic inclusion. To bridge the gap of rising income inequality, J.P. Morgan has initiated to advance economic mobility, employment opportunity and relevant skillsets in a fast-changing global market

Jennifer Khoo

Assistant Advertising Sales Manager Tom Chan

biz.hk is a monthly magazine of news and views for management executives and members of the American Chamber of Commerce in Hong Kong. Its contents are independent and do not necessarily reflect the views of officers, governors or members of the Chamber. Advertising office 1904 Bank of America Tower 12 Harcourt Rd, Central, Hong Kong Tel: (852) 2530 6900 Fax: (852) 3753 1206 Email: amcham@amcham.org.hk Website: www.amcham.org.hk Printed by Ease Max Ltd 2A Sum Lung Industrial Building 11 Sun Yip St, Chai Wan, Hong Kong (Green Production Overseas Group) Designed by Overa Creative Tel: (852) 3596 8466 Email: ray.chau@overa.com.hk Website: www.overacreative.com ©The American Chamber of Commerce in Hong Kong, 2016 Library of Congress: LC 98-645652 Single copy price HK$50 Annual subscription HK$600/US$90

AMCHAM NEWS AND VIEWS 04 HKSAR 20th Anniversary – Redefining Hong Kong’s Economic Role Hong Kong’s “One Country, Two Systems” policy has succeeded in maintaining the city’s open, free market – a “specialness” which should never be taken for granted. In light of China’s 13th Five-Year Plan, Hong Kong’s rule of law, independence of judiciary, and fundamental freedoms enshrined in the Basic Law will remain more crucial than ever to the region’s continued economic success

07 New Business Contacts 41 executives join AmCham’s business network this month

72 Mark Your Calendar

COVER STORY 08 Inclusive Growth in a Transforming Economy In a new era of growing protectionism, global trade – a key driver of economic growth in Asia – is bound to become more subdued – an enormous challenge in the fight for economic inclusion. To bridge the gap of rising income inequality, J.P. Morgan has initiated to advance economic mobility, employment opportunity and relevant skillsets in a fast-changing global market

CHAMBER TOPICS

14 AmCham Hong Kong President Bids Farewell On January 1st 2017, after leading AmCham Hong Kong for nine years, President Richard R Vuylsteke will bid farewell and become the next President of the East-West Center in Honolulu, Hawai’i. Before leaving for his new role, he reflects with a few parting comments

WOMEN OF INFLUENCE

20 Leading Change

Business leaders and professionals gather at the annual WOI Conference to celebrate the achievements of men and women in Hong Kong’s business community and to share with each other on how to create positive change for themselves, their organizations and their society

biz.hk 12 • 2016

14 CHAMBER TOPICS On January 1st 2017, after leading AmCham Hong Kong for nine years, President Richard R Vuylsteke will bid farewell and become the next President of the East-West Center in Honolulu, Hawai’i. Before leaving for his new role, he reflects with a few parting comments

WOMEN OF INFLUENCE

CHARITABLE FOUNDATION

A doctor of tremendous ethical and professional competence and an individual of high standards and integrity, Dr. Thomas Chan is named winner of AmCham’s 2016 Ira Dan Kaye Community Service Award for his years of dedication to the alleviation of poverty

WOMEN OF INFLUENCE

22 How Effective Leadership Drives Change Dr Rosanna Wong, a highly accomplished woman, a dedicated public servant and a role model, speaks in a keynote address on the importance of trust-building in a time of disturbing change and how leaders can bring change effectively

24 Change is Good Teresa Ko, a legal professional with a one-of-a-kind resume of accomplishment, emphasizes the notion that change isn’t just about reacting but also about progress and thinking forward as well as seizing the opportunity brought upon by change

26 Ourselves, Our Organizations, Our Society Conference participants learn how to improve leadership effectiveness through increased self-awareness, how to lead through complexity, and how to influence wider societal change to enable opportunities for women and others

WOI AWARDS

32 Lifetime Achievement Anson Chan, Hong Kong 2020

33 Professional of the Year Stephanie Hui, Goldman Sachs

34 Non-profit Leader of the Year Jenny Bowen, OneSky For All Children

35 Entrepreneur of the Year Lori Granito, Kitchen Sync

36 Master of the Arts

Sandra Walters, Sandra Walters Consultancy

37 Young Achiever of the Year

Sandra Leung, Hong Kong Stock Exchange

38 Champion for the Advancement of Women Ben Way, Macquarie

39 Best Company for Women Marriott International

biz.hk 12 • 2016

INDUSTRY FOCUS

40 Human Capital Management A survey of development in executive search, recruitment, leadership succession, compensation packages and employment trends A.T. Kearney Adecco Brookfield Global Relocation Services Cornerstone International Group Egon Zehnder EY GP Strategies Heidrick & Struggles ISI-Dentsu Kelly Services

Koehler Group Korn Ferry KPMG Management Development Services Mercer Odgers Berndtson Resources Global Professionals Spencer Stuart & Associates Spring Professional

CHARITABLE FOUNDATION

47 No Child Left Behind

AMERICAN TOPICS

50 In Celebration of Thanksgiving AmCham has kicked off the holiday season with a recent luncheon in honor of the American tradition of Thanksgiving right here in Hong Kong

SPECIAL SUPPLEMENT

55 In Celebration of Thanksgiving Guide to Executive Search/HR Professionals

AMCHAM PUBLICATIONS

68 2016 Index of Articles

A comprehensive list of all articles published in biz.hk throughout the year

Board of Governors Chairman Vice Chairman Treasurer

Walter Dias Steve Lackey Owen Belman

Executive Committee Evan Auyang, Sean Chiao, John (Jack) E Lange, Alan Turley, Jennifer Van Dale Governors Donald Austin, Elaine Cheung, Diana David, Sean Ferguson, Robert Grieves, Matthew Hosford, Clara Ingen-Housz, Michael Klibaner, Simon Ogus, Seth Peterson, Anna-Marie Slot, Catherine Simmons, Eric Szweda, Patrick Wu, Lennard Yong Ex-Officio Governor President

Peter Levesque Richard R Vuylsteke

Chamber Committees Apparel & Footwear Ball China Business Communications & Marketing Corporate Social Responsibility Education Energy Entrepreneurs/SME Environment Financial Services Food & Beverage Hospitality & Tourism Human Resources Information & Communications Technology Insurance & Healthcare

Mark Green Diana David Devin Ehrig Lili Zheng Oliver Rust Pat-Nie Woo Virginia Wilson Rick Truscott Cynthia Chow Laurie Goldberg Jim C Taylor Steven Chan Veronica Sze Mark Kemper Peter Liu Benny Lee

Rebecca Harrison Hanif Kanji Gabriela Kennedy Intellectual Property Jenny Wong Chiann Bao Law Jessica Bartlett Caroline Johnson Pharmaceutical Edward Farrelly Real Estate Robert Johnston Terrance Philips SelectUSA Lili Zheng Philip Cheng Senior Financial Forum MaryAnn Vale Senior HR Forum Ivan Strunin Taxation Barrett Bingley Trade & Investment Gavin Dow Transportation & Logistics Jennifer Parks Women of Influence Jennifer Wilson Michael Harrington Young Professionals

biz.hk Editorial

ong Kong as an outward-looking city has a unique and significant economic footprint in the Asia Pacific region and globally. With its world-class infrastructure and talent, the city is a conduit linking the region with the rest of the world. Amid China’s rise to economic power and global significance, Hong Kong’s role has remained unique and irreplaceable as one of the most important Chinese cities with economic and cultural significance. The value of Hong Kong lies in its role as a super-connector of influence, diversity, vibrancy and stability, safeguarded by its core values and cherished by the people of the city. For the past 20 years, “One Country, Two Systems” has been successful in maintaining its free, open and competitive economy – a “specialness” which should never be taken for granted. The rule of law, independence of judiciary, and fundamental freedoms enshrined in the Basic Law are all too important to the continuing success of Hong Kong. Over the past 20 years, Hong Kong has grown from a series of economic and social challenges, but it has also learned from its strategic role in developing the Chinese as well as the global economy. The “Fourth Industrial Revolution” availed by smart technologies will continue to have an unprecedented impact on the way people produce, consume, communicate, live and interact with one another. It is a global phenomenon in which Hong Kong has fallen behind its Asian counterparts (Singapore, Japan and South Korea). As a leading global financial center, Hong Kong has all the pre-requisites for a conducive policy environment and an ecosystem for innovation and “smart” growth. The city’s biggest asset is its

biz.hk 12 • 2016

HKSAR 20TH ANNIVERSARY – REDEFINING HONG KONG’S ECONOMIC ROLE hyperactive, multi-faceted relations with the US, China and the rest of Asia Pacific. By capturing the opportunity and synergy afforded in these economic relationships, Hong Kong will find itself riding the next wave of growth in line with China’s 13th Five-Year Plan and Belt & Road initiatives. Hong Kong’s trade and cultural relations with the United States are some of the most significant in the world: it is the 10th largest export market of the US, and the US is Hong Kong’s second largest trading partner after Mainland China. These ties have laid an excellent foundation for supporting talent development and deepening industry-academic collaborations in the innovative and creative fields which are instrumental for “smart” growth. Along China’s path towards higher quality growth, Hong Kong is well positioned to capture tremendous opportunities as a gateway for foreign direct investment (FDI) going into China, and as a test market for Chinese businesses going overseas. Other areas, including development in green finance, commercialization of eco-products, and economic transformation driven by innovative technologies are also opportunities for Hong Kong to export its professional services. There is more: given its status as an international hub for the movement of capital, information and people, Hong Kong has a greater role to play in financing projects for China’s Asian Infrastructure Investment Bank (AIIB) and the

biz.hk 12 • 2016

Belt & Road initiatives, and Hong Kong should join the AIIB as a sub-sovereign member and pursue the opening of an AIIB office in the city. This will allow it to effectively leverage its investment expertise to facilitate investment from the newly formed institution throughout the region. Hong Kong companies’ extensive investment experience throughout the APAC region strengthens the city’s key role as a facilitator of FDI into emerging markets like Vietnam, Cambodia, Myanmar and the Philippines. The Hong Kong-ASEAN Free Trade Agreement (FTA), scheduled to be concluded by the end of 2016, should only help in this regard. The key is to maintain Hong Kong’s simple tax framework, competitive banking industry and currency stability to preserve its pivotal role in FDI regional flows. In view of Hong Kong’s unique role and substantial offerings in China’s overall economic development outlined in the 13th Five-Year Plan, it can and should continue to be an economic model for bringing international best practices and global standards, regulatory efficiency, service industry expertise, and intellectual property rights to the Mainland. The efficiency and transparency of Hong Kong is an assurance to the global business community that this is a good place to do business.

New

Business Contacts The following people are new AmCham members: Affordable Art Fair

Harvest Global Investments Limited

Repulse Bay Co, Ltd, The

American Club, The

Hong Kong University of Science & Technology

Rockwell Automation International Holdings LLC

Stephanie Kelly Fair Director

Michael Pitsiladis Director of Food & Beverage - Town Club Christofer Soderbaum Director of Food & Beverage - Country Club

Baker & McKenzie

Amy Ling Foreign Registered Lawyer

Brown Brothers Harriman (HK) Ltd Scott McLaren Head of Hong Kong Office

Thomas Kwan Managing Director, Chief Investment Officer

Loubna Laroussi Asst Director, Int'l Career and Professional Development / MBA/MSc Career & Professional Development / School of Business and Management Hetti Cheung Head, MBA for Professionals - Weekly Program / School of Business and Management Venisa Chu Head, Full-time MBA Program

Tina Wong General Manager

Joseph Sousa President, Asia Pacific

Sinovision Development Nina Tao Managing Director

Southco Asia Ltd

Jay Lu Managing Director, Asia Pacific

Hongkong International Theme Parks Ltd

Team Building Asia (Hong Kong) Ltd

Charles Schwab HK Ltd

International Association of Amusement Parks and Attractions

ThalesTransport & Security (Hong Kong) Ltd

Deacons

J.P. Morgan

TheMIGroup

Dot Trademark TLD Holding Company Limited

Jones Lang LaSalle Ltd (JLL)

Tricor Services Limited

Dennis Cai President of Policy and Compliance

Kevin Tranbarger Head of Retail Projects, Asia Pacific, Project and Development Services

DTZ Cushman & Wakefield

Master of Global Public Policy

Cathay Pacific Airways Ltd Arnold Cheng Director Corporate Affairs Michael Fong Managing Director Annie Tsoi Partner

Annie Wharmby Director, Entertainment & Costuming

June Ko Vice President, Asia Pacific Operations

Jyotinder Kaur Vice President

Richard Lau Manager, Office Services - Agency

Jackie Wong Director, Marketing and Recruitment

Economist Group, The

MetLife

Katrina Oropel Senior Business Development Manager, Events, North Asia

Lee Wood Chief Executive Officer, Hong Kong

FTLife Insurance Company Ltd

Moody's investors services

Lennard Yong Regional Chief Executive Officer

Vivek Goyal Managing Director

Hallmark Cards (HK) Ltd

OneSky

Dave Saunders Global Procurement & Asia-Pacific Managing Director

HandsOn Hong Kong Sue Toomey Executive Director

Jenny Bowen CEO

Philip Morris Asia Limited Ishak Danuningrat Director Fiscal Affairs and International Trade - Asia

Michelle Mak Head of Sales

Richard Mallett Vice President - CISC

Jessica Bailey Global Account Manager Shirley Tsang Deputy Chief Executive Officer China and Hong Kong Natalia Seng Chief Executive Officer China and Hong Kong

United Technologies Corporation

Jimmy Lee Associate Director, Sales of New Equipment, Otis Hong Kong and Macau

Willis Towers Watson

Benjamin Lam Director - Head of Health & Hospitalization, Global Wealth Solutions, Hong Kong Clare Kwan Executive Director - Head of Business Management, Global Wealth Solutions, Hong Kong Peter Tsih CEO, Global Wealth Solutions, Hong Kong

Wing On Company International Limited

Kendrick Kwok Assistant General Manager, The Wing On Co

View our other members at: www.amcham.org.hk/memberlist

biz.hk 12 â&#x20AC;˘ 2016

COVER STORY

Nicolas Aguzin, Chairman and CEO, Asia Pacific, J.P. Morgan speaking on economic empowerment at the “One Step Ahead” symposium in Beijing, China

Inclusive Growth in a Transforming Economy In a new era of growing protectionism, global trade – a key driver of economic growth in Asia – is bound to become more subdued – an enormous challenge in the fight for economic inclusion. To bridge the gap of rising income inequality, J.P. Morgan has initiated to advance economic mobility, employment opportunity and relevant skillsets in a fast-changing global market with solutions driven by empirical evidence, data, research and analysis of real-time market dynamics

By Kenny Lau

biz.hk 12 • 2016

“The need for more inclusive and sustainable economic growth in Asia has never been more pronounced than today.” - Nicolas Aguzin, Chairman and CEO of J.P. Morgan, Asia Pacific

biz.hk 12 • 2016

he global economy is undergoing a drastic transformation and is presenting more than a few socio-economic challenges across the globe. In the US, middle-class families are facing the daunting reality that in 2015 they officially became a minority in what appears to be a shrinking middle class, despite the rise of US income by more than a third since 1970; their median incomes have decreased by 4 percent since 2000, and those of lower-income households have fallen by 9 percent. Likewise, 12 out of 30 developing economies in Asia covering 82 percent of the region’s population have had a worsening “Gini coefficient” – a measure of income distribution – in the past two decades, and are found to be above the defining mark of 0.40 – which is the threshold for “high inequality,” according to the Asian Development Bank. In other words, while rapid economic growth in Asia has reduced poverty significantly, it has also widened the income gap in many countries. In a new era of growing protectionism and antiglobalization sentiments, global trade – a key driver of economic growth in Asia – is bound to become even more subdued, giving rise to another set of challenges in the fight for economic inclusion and against income disparity. For Asia – a region which drives a significant part of global economic growth and a region where 60 percent of the world’s population resides – stability and financial resilience are simply too important to ignore.

The Asia perspective How Asia can sustain growth inclusively in a new environment is a challenge in which policymakers and corporate leaders have an equally critical role to play. “Improving the quality of growth for a region as dynamic, diverse and non-homogenous as Asia is a very demanding task,” says Nicolas Aguzin, Chairman and CEO of J.P. Morgan in Asia Pacific. “The need for more inclusive and sustainable economic growth in Asia has never been more pronounced than today.” And the private sector has an obligation to rise to the challenge, he adds. “Contributing to sustainable economic growth in the communities where we operate has been a key component of our strategy, globally as well as in Asia Pacific. The unprecedented changes underway in Asia, although challenging, are bringing remarkable opportunities. We are striving to ensure everyone can benefit from them.” The question is whether a global financial services firm has a role to play and can be part of the solution by addressing these challenges head-on, and the answer is a resounding “yes” because it makes good sense to strive for sustainable development economically, socially and environmentally. It’s good when more

Diana Tsui, Head of Global Philanthropy, AP, J.P. Morgan

opportunities are created; it’s good when more people can participate in – and share the rewards of – an economy; and it’s good when more communities can prosper. The firm is planning to deploy US$1 billion towards programs focused on expanding access to opportunity and advancing economic mobility around the world and in Asia over the next five years. This is to support a wide variety of initiatives that increase employment opportunities for disadvantaged communities, sustain and grow small businesses, and enable marginalized people to access and benefit from affordable financial products. The initiatives are driven by empirical evidence, data, research and analysis of real-time market dynamics to advance economic mobility, employment opportunity and other relevant skillsets in a fast-changing global market – all to bridge the gap of income inequality. The firm’s unique expertise and global reach allow for impact on a scale few organizations can match.

Creating employment J.P. Morgan has committed to a series of workforce readiness initiatives across the region, joining forces

biz.hk 12 • 2016

Closing skills gaps

Chauncy Lennon, Head of Workforce Initiatives, J.P. Morgan

with the public sector and academic partners. The firm as a strong advocate of human capital development has taken significant steps to help narrow the skills gap between the rise of new, fast-growing industries and the issue of high youth unemployment in Asia Pacific by addressing the unique challenges facing emerging countries across Asia as they transition into an innovation-led growth model allowing their industries to move up the value chain. “Building a bridge between employers, job seekers and education and training providers is a very powerful tool in addressing unemployment, particularly in Asia where high-growth industries are seeking mid-skilled labor while navigating vast developmental and geo-political diversity,” says Chauncy Lennon, Head of Workforce Initiatives at J.P. Morgan. The firm’s workforce readiness initiatives have helped to create nearly 50,000 new jobs, placements and internships across Asia Pacific, and they leverage J.P. Morgan’s collaborative efforts with regional academic institutions, supporting research and turning insights into employable skillsets for young people from disadvantaged communities, who are often left behind. A rural cooperative in Sichuan, China as part of a social enterprise supported by J.P. Morgan to help increase the competitiveness of low-income micro-entrepreneurs

Over the past year, J.P. Morgan supported Tsinghua University and Fudan University in determining the nature of the skills supply and demand in China – a country whose macroeconomic transformation has resulted in a widening mismatch of labor skills – focusing on issues having to do with how to improve the quality of the labor force. The report, Skills Shortages in the Chinese Labor Market, highlights the shortage of adequate skills demanded by enterprises looking to move up the value chain, with recommendations for a diversified vocational training and public education system through government support and greater participation of the private sector. The firm is now partnering with the China Development Research Foundation to provide market-led technical and soft skills training to vocational school students. The firm is also expanding its efforts in better understanding the changing labor market, identifying new opportunities and developing strategies for disadvantaged communities beyond Mainland China. The five core countries of the Association of Southeast Asian Nations (ASEAN-5) – Singapore, Malaysia, Thailand, Indonesia and the Philippines – were found in a commissioned study to have a shortage of skilled workers to varying degrees. The study by Singapore Management University, Managing Skills Challenges in ASEAN-5, reports a consistent shortage of industry-ready workers equipped with relevant technical and vocational skills in these countries, particularly in the ICT sector, which may hinder their growth potential. Tackling the shortcomings identified in the report, J.P. Morgan is now supporting the Education Development Center to prepare disadvantaged youth for employment in tech-related sectors. In India, where J.P. Morgan has a large presence, the firm is bridging the gap between education, employability and employment. Programs supported by the firm are helping change the way skills development is introduced in schools, furthering employer-driven vocational training and engaging employers so that they recognize the value of hiring based on skills and competencies. Here in Hong Kong, it has partnered with the YWCA in the “Road to Success” program to help sub-degree students improve their career prospects – and 120 recruits have since completed their preemployment training and are being placed in different capacity of employment.

Small businesses, big impact Globally, there are 450 million entrepreneurs contributing to human innovation and creativity, according to the United Nations’ 2015 Human Development Report. Like

biz.hk 12 • 2016

their counterparts across the world, small businesses are a Key Socio-economic Indicators of ASEAN-5, China and India, 2015 critical component of any local economy throughout Asia. Human Mean years of Total GDP GDP per capita Population Small- and medium-sized Development schooling (billion US$) (US$) Size (million) enterprises (SMEs) employ Index (ranking) over half of the workforce, with a share of GDP ranging 10,866.4 7,924.7 1,371.2 0.727 (90) 7.5 China from 20 to 50 percent in the 2,073.5 1,581.6 1,311.1 0.609 (130) 5.4 India vast of the Asia Pacific Economic Cooperation 292.7 52,888.7 5.5 0.912 (11) 10.6 Singapore (APEC) economies. Despite their vital role in 296.2 9,766.2 30.3 0.779 (62) 10.0 Malaysia supporting employment and 861.9 3,346.5 257.6 0.684 (110) 7.6 Indonesia the overall economy, SMEs often lack access to the 292.0 2,899.4 100.7 0.668 (115) 8.9 Philippines resources they need to sustain and scale their operations – a 395.3 5,816.4 68.0 0.726 (93) 7.3 Thailand challenge J.P. Morgan is tackling amid a recognition Source: World Bank, UN, compiled by Singapore Management University that SMEs are engines of job growth, laying an essential foundation for healthy, thriving communities. J.P. Morgan focuses more on facilitating access to – and “Capital is key, but without access to the right usage of – relevant, cost-effective financial services and technical skills, networks and mentors, small businesses products for the poor. will have a difficult time getting off their feet,” says In India where the government has ensured that Diana Tsui, Head of Global Philanthropy for Asia Pacific access to the banking system is pervasive, J.P. Morgan at J.P. Morgan. “Across Asia Pacific we fund non-profits is focusing on enhancing usage of bank accounts and that connect underserved entrepreneurs with crucial appropriate financial products to help low-income resources they need to help them grow.” households build assets and reduce their vulnerability In China, J.P. Morgan is supporting the China Founto shocks, such as death and illness. dation for Poverty Alleviation (CFPA) in accelerating the It is working with the Institute for Financial growth and expansion of Beijing Zhong He Nong Dao Management and Research as well as the Institute of Technology Ltd, a social enterprise established by CFPA Rural Management Anand to map out the innovations to help increase the competitiveness of low-income in digital financial services and understand how India’s micro-entrepreneurs and their enterprises’ value by growing digital footprint can be leveraged to make improving their agricultural product quality and sales financial services more inclusive. through an e-commerce platform. In the Philippines, where there are only about 75 Locally, it is partnering with the Hong Kong Council financial service access points for every 100,000 adults, of Social Services to implement the Small Business J.P. Morgan is supporting the Grameen Foundation in Advancement acceleration program, a pilot initiative that building an interoperable, last-mile, agent network that is seeking to gain a granular understanding of the will deliver financial services in rural areas through challenges facing SMEs to be able to provide targeted mobile-enabled payment platforms. capacity-building services to small businesses operating Recognizing the need for viable solutions to product in underprivileged communities in Hong Kong. usage, the firm is also supporting ideas42 in the Philippines The program aims to contribute to developing a to test and adapt scalable versions of a promising savings viable ecosystem conducive to the growth and developproduct as a way to advance scale-oriented innovation aimed ment of micro and small businesses in a sustainable at increasing formal savings for the poor. manner. One of the most urgent challenges facing the world is the need for increased economic opportunity and more widely shared prosperity, Tsui stresses. “As one of the world’s largest financial services companies, we Helping individuals acquire the knowledge, skills and have a responsibility to make a difference, and we tools needed to promote financial security creates greater believe our strength, global reach, expertise and access financial stability, improved economic opportunity and to capital allow us to support and invest in local stronger, more resilient communities. In Asia Pacific, communities where we live and work.”

Financial Capability

biz.hk 12 • 2016

INTERNATIONAL HEALTH INSURANCE FOR EXPATRIATES

NEW COUNTRY. NEW BEGINNINGS. NEW EXPERIENCES. WE’RE WITH YOU. ALL THE WAY.

Wherever life takes you, Cigna Global can protect your health and well-being every step of the way. We’ve been serving expatriates for decades—so we’ve tailored our products to meet your unique needs. Our flexible plans provide access to over 1 million providers in 200 countries, 24/7 support from medical professionals and much more. Embrace the new—start building your personalised plan today. Visit www.cignaglobal.com/IPMI/HK or call +852 25399374 today.

The Cigna name, logo and other Cigna marks are owned by Cigna Intellectual Property, Inc. licensed for use by Cigna Corporation and its operating subsidiaries. “Cigna” refers to Cigna Corporation and/or its subsidiaries and affiliates. Products and services are provided not by Cigna Corporation and are provided by, or through such operating subsidiaries including Cigna Worldwide General Insurance Company Limited, an authorized insurer regulated for the conduct of insurance business in Hong Kong. Products and services may not be available in all jurisdictions and are expressly excluded where prohibited by applicable law. Nothing in this communication constitutes legal, tax, financial planning or health or medical advice.

CHAMBER TOPICS

biz.hk 12 â&#x20AC;¢ 2016

AmCham Hong Kong President

Bids Farewell

On 1 January 2017, after leading the largest international chamber of commerce in Hong Kong for nine years, AmCham Hong Kong President Richard R Vuylsteke will become the next President of the East-West Center in Honolulu, Hawaiâ&#x20AC;&#x2122;i. Here are a few of his parting comments

By Kenny Lau

biz.hk 12 â&#x20AC;˘ 2016

biz.hk: How did you first become a part of the AmCham Hong Kong family? Vuylsteke: Only a month after I became president of AmCham Taipei in September 1999, I met AmCham HK President Frank Martin, who was a legend among AmChams in Asia Pacific because of his expertise in running a first-class chamber. Frank, who remains a very close friend, was my mentor in Chamber management. Over the next nine years I met regularly with Frank, even after he retired to Arizona. In late 2007, when I heard that Frank’s replacement was leaving AmCham, I wrote a note to the headhunting firm offering to nominate persons to fill the position. After a couple of conversations, to my surprise I was recruited and eventually ended up with the job. You could say I started as an informal consultant and ended up being the prime candidate. I’m glad I tried to help with the search! biz.hk: What has AmCham achieved during your tenure as President? Vuylsteke: Building strong, sustainable leadership and operational strengths are important achievements. An organization is only as strong as its leadership, and we are fortunate to have attracted volunteer leaders of

unparalleled excellence – our Board, Committee leaders, Strategic Group members, and even a dozen active past Chairs. They are all very busy executives, nevertheless they dedicate substantial time, energy, and brainpower to ensuring the Chamber is a force for good – through our high-quality programs and events, industrial-strength networking, and effective advocacy in Hong Kong, Mainland China, and the United States. When I arrived in 2008, we needed a muscular China Affairs agenda; a high-quality magazine targeting members and non-members; an increased number and quality of events; a broader and deeper advocacy agenda; better services, visibility, and access for our members; and a focused strategic plan designed to keep AmCham Hong Kong “best in future class.” We now have all these in place. In support of all we do is AmCham’s tremendous office staff. I’ve had the good fortune to work with many wonderful people over the years, but my colleagues here are simply tremendous – they’re professional, collegial, dedicated to serving our members, and frankly

biz.hk 12 • 2016

fun to work with. I can’t begin to say how much I’m going to miss coming into the office each day and working with them. biz.hk: What will you miss most? Vuylsteke: People, people, people. At the Chamber, on the street, in shops and restaurants, so many Hong Kong and US government and business group interlocutors, my mentees at CUHK, the Boy Scouts I’ve worked with, the staff at HKIS, the American Club, and AWA – the list is nearly endless. I’ve made so many friends and acquaintances. I’ll miss all those smiles, greetings, conversations, and – especially – all the great food we’ve shared together! biz.hk: Why is AmCham’s role of supporting US businesses as well as Sino-US relations so critical? Vuylsteke: Just one example. We close the “briefing circle.” We see this all the time when we meet with U.S. State and Federal government officials, Congressional leaders, educationists, and business groups. Our members

biz.hk 12 • 2016

are in the trenches here in Asia. They understand and can articulate clearly the challenges and opportunities for business development. Visitors to Hong Kong are typically well-briefed on broad social, political, and economic topics by the US Consulate and HK government, but AmCham members can be more candid and specific. They can tell anecdotes that carry powerful insights into how Hong Kong, China, and the region works on the ground. We provide useful insights and practical approaches – it’s difficult to put a price tag on that. biz.hk: What can Hong Kong do going forward to remain a competitive and relevant marketplace globally? Vuylsteke: Hong Kong has many opportunities ahead, but foremost in my mind is right on our doorstep. Our connectivity by rail, road, and MTR with the PRD will make us a “one megalopolis, two systems” environment with extraordinary business, recreational, and cultural opportunities. We need to be aggressive about building both a competitive and a cooperative business environment between Hong Kong and the nine PRD cities. Capitalizing on the synergies in this megalopolis, we can tap into and serve the business and trade potential of South China, which is a huge, rich, and dynamic population with a history of going global. I’ll miss the excitement of

seeing this evolve. We’re already seeing the beginnings of this in Hong Kong-Shenzhen interactions. biz.hk: Would you tell us more about your new job? Vuylsteke: I’m pleased to say that my new position allows me to continue pursuing my personal mission – to be a catalyst for other people’s success. The East-West Center a unique educational institution with a 55-year legacy of serving research, training, and educational needs in Asia, the Pacific, and North America. It was established by the U.S. Congress, but now also receives broad international support. Each year the Center has more than 3000 participants for short and long-term training, conferences, and research. I’ll be the first alumnus to run the institution. It’s a great honor and opportunity. The mix of activities at the Center will be as varied and dynamic as what I’ve experienced here in Hong

Kong. Like here, the mandate is to interact constructively cross-culturally and cross-nationally. As you know, I am a “retooled academic” and at the Center I’ll be involved with education topics, but no less with governments, businesses, NGOs, and other stakeholder groups in Hawaii, Asia, the Pacific Islands, and the United States. The good news is that Hong Kong is very much on the East-West Center’s map of interests and activities. I expect to be back here several times a year – even more if I can convince some airlines to set up direct flights between here and Hawaii. So, I’m not really saying goodbye to Hong Kong – just Aloha. I’ll be back, so keep all that great dim sum ready for me!

biz.hk 12 • 2016

WOMEN OF INFLUENCE

WOMEN OF INFLUENCE CONFERENCE & AWARDS

13TH ANNUAL

Leading Change: Transforming Ourselves, Our Organizations, Our Society

biz.hk 12 â&#x20AC;¢ 2016

Title Sponsor:

Gold Sponsors:

Silver Sponsors:

Cocktail Sponsors:

Bronze Sponsors:

Luncheon Wine Sponsor:

Oﬃcial News Media:

biz.hk 12 • 2016

Oﬃcial Social Media Partner:

Oﬃcial Newswire Partner:

Media Partner:

Supporting Organization:

Rosanna Wong

How Effective Leadership Drives Change By Kenny Lau

r Rosanna Wong, DBE, JP, is a highly accomplished woman, a dedicated public servant, and a role model reminding us of the importance of trust-building in a time of disturbing change. Since an early age, she has been heavily influenced by two individuals: her mother and Dr Sun Yat Sen. Her mother, a very open-minded individual, was her role model and life-long teacher. The story of Dr Sun gave a young girl who would one day achieve a distinguished record of public service sitting in both the Legislative and Executive Councils. “My mother had always put tremendous trust in her children. She told her children to do what they wanted to achieve and to bear responsibility; I am always grateful for her generosity,” says Wong, speaking in the opening keynote address of AmCham’s 2016 WOI Conference. “I learned the whole lesson of trust from my mother. And we should trust our young people before they learn how to trust us.” Today, Wong is Executive Director of The Hong Kong Federation of Youth Groups, a member of the National Committee of the Chinese People’s Political Consultative Conference as well as HKUST Business School Advisory Council, Chairperson of the Education Commission, Housing Authority, Commission on Youth, and Social Welfare Advisory Committee. She also

serves as an Independent Non-Executive Director of HSBC, CK Hutchison Holdings, Hutchison Telecommunications HK Holdings and The Hongkong and Shanghai Hotels, among others. “When I was young, I also read a lot about Dr Sun Yat Sen. The one thing I learned from his life is passion. Passion is a driver and is very important for leaders; it is something that leads you to do what you want to do,” Wong explains. “He undertook numerous attempts to drive change in China despite his own assertion that all the revolutions were never completely successful by the time of his passing in 1924; but his passion drove him to continue. I was inspired by his story of attempts to make change.” “The word ‘change’ is a very popular word, particularly in the current time. Everybody wants change, and politicians say they can lead you to change,” she says. “I can see that change is very attractive because people are not happy and they want to see change. That’s why leaders promise change; but the question is, to what extent can they deliver? Promises are easy, but at the end of day whether they can deliver is another matter.” “The word, therefore, is not ‘change’ but ‘effectiveness’ – how leaders can bring change effectively,” she emphasizes. “And what kind of leadership qualities do we need to truly and effectively bring change? I can tell you that sometimes I want to do certain things or fix

biz.hk 12 • 2016

certain problems in my organization, but it doesn’t mean that I can effectively bring change. This is something I’ve been learning myself throughout my career.”

Humility The first is humility, Wong believes. “A humble leader, in my view, always gets things done better. The traditional way of differentiating leaders is by how confident a leader is, how strong-minded he or she is, and how outspoken. Yes, these are top qualities, and I don’t disagree; but at the end of the day, if a leader learns the lesson of humility and is humble, it’s far more effective.” “What do I mean by humility? They are the ones who are ready to learn; they are not arrogant because they understand that they don’t all the answers to all the problems and that they certainly don’t have all the solutions for everything,” she explains. “They admit that they simply don’t know, but they always keep pace of what’s happening because they understand the world is changing very quickly. If they can’t understand certain things about IT, then they’ll simply say they don’t know.” Humble leaders are ready to listen, she says. “This is challenging because leaders always feel they know everything and they know it better than anyone else; they tend to stick to what they believe is totally correct. But humble leaders always find time to listen because they understand that the world is diverse and that people have different views on different things. We need the open-mindedness to listen and the generosity to adjust our own views.” Humble leaders are ready to engage, she adds. “Engagement is critical because success is often not the result of an individual but that of a team. If I claim all the credit and feel I am the reason for success, people will stop listening and being engaged; if I can engage people in every way I can and give credit where due, people will have a strong sense of ownership.”

Sacrifice Leadership is far more effective when a leader can make sacrifices at their own expenses, Wong says. “Sacrifice is a commitment, and if a leader doesn’t put forward himself or herself and be ready to sacrifice, it is very difficult that people believe you can make change. When you commit to certain things, you need to be ready to sacrifice your time; when you work with people, you need to invest the time in them. There is no short-cut.” “Sacrificing your time is something to which all women can easily relate,” she says. “I’ve also had to do this when I was in the Legislature and taking on different roles in public service while running my family and my office; and I had to sacrifice all my time – personal and private time. This is how you build your trust and relationships with other people, and you need to invest your time.”

biz.hk 12 • 2016

The most difficult sacrifice to make, by far, is that of one’s ego, she stresses. “Our ego can sometimes be the most testing thing. While we are taught to be confident and to stand high, we also need to learn to admit our mistakes and to be able to tell the world that I am wrong. This is particularly difficult to do when it isn’t directly because of you. However, leaders need to have a broad shoulder to take on responsibility and sacrifice their ego.”

Values & Belief It is strong values and beliefs that people are seeking in leaders across different organizations, platforms and societies of all kinds round the world, Wong points out. “No matter what you do – be it in the financial sector, political sector, education sector, or whatever – a very important one is: no leader can be too self-centered; no leader can be too self-interested; you always hold onto the belief of doing good for other people.” “Doing good for other people other than yourself is a very important value because it lets people trust that you are not for self-interest but for the wider interest of other people,” she explains. “It allows a leader to build trust. Leadership is trust. No trust, no leadership. If there is no trust, we are all restricted from what we could achieve. But trust is also a very tricky thing. Why do I trust you? Why do I not trust you? It is certainly not because you look better or worse than others.” “It is all about the people, the person and the leader – whether the leader gives you a sense of trust and whether the leader exemplifies integrity,” Wong says. “I’ve spent a large part of my life learning how to earn the trust of others. I think about what I might have done that I could not gain their trust and why. Trust is a very testing lesson for any leader. If you want to transform yourself, you need to see who you are as a person and what drives you to do what you do.” “Humility, sacrifice, and values & belief are very important qualities – and I am learning as well,” she adds. “For those who want to become a leader one day, and when you promise people for change, this is a very good benchmark to review yourself. A leader isn’t a very good leader when he or she promises everything but doesn’t deliver on anything. I’d rather have someone who can commit to one thing and can actually get it done.” Reflecting on her role working with and for young people in Hong Kong throughout the years, Dr Wong only enjoys it very much but also sees a purpose of nurturing many young leaders who learn to be humble, ready to sacrifice, and have strong values and beliefs. “I am sure our younger generation will bring change, not only to their family, to their organization, and to our community, but also to the world. We have a lot of young and upcoming leaders who are very bright, and they are ready to serve Hong Kong.”

Teresa Ko

Change is Good By Kenny Lau

eresa Ko is a legal professional who has achieved a one-of-a-kind resume of accomplishment, having been awarded AmCham’s WOI Professional of the Year, selected as one of 25 Women of Our Time by SCMP, named an Outstanding Practitioner by Asian Women in Business Law and voted Best Capital Markets Lawyer by Asian Women in Business Law. As China chairman of Freshfields Bruckhaus Deringer, she has advised on many high-profile M&A and IPO transactions involving Hong Kong companies, MNCs, Chinese SOEs and privately-owned enterprises. Throughout her journey of personal and professional development, Ko has undergone quite a few phases of change in circumstances – be it by design or simply out of fate – under which she did one deal at a time, tackled challenges to the best of her ability, and reached where she is today as an inspirational leader. “Too often we talk about our history, our success, and our failure without references to those around us,” she says. “Our efforts would only go a long way but are only part of the equation.” “I am always grateful for the support I get from my husband and my two children,” she adds. “Having a family brings all sorts of change that you are never quite prepared for. What I learned when my children arrived is this: sometimes change is forced upon you even when you are not quite ready for it. Juggling home and work is

not without challenges, and I still remember the day when I couldn’t go on our family skiing trip and stayed behind to negotiate a multi-billion deal with clients in our boardroom.”

The Path to Success Ko experienced her “first real change” in life when she was sent to the UK by her mother who decided a boarding school was a better alternative to keep her daughter in line. “I embraced the experience and learned to be quiet; I worked hard but probably played even harder,” she recalls. “I dropped the idea of a degree in fashion design as my father didn’t think it was a serious enough profession; I studied law, graduated and got qualified. After four years in London, I felt a change within me.” The change was: returning to Hong Kong, joining a small Freshfields office with three partners and five lawyers, and becoming the only Chinese associate. “I needed to give a speech in Beijing when I couldn’t really speak Mandarin, so I learned Mandarin,” Ko says. “I didn’t think it was a real change at the time; but it has changed my life. What followed was my first Chinese IPO with a petrochemical plant outside Shanghai.” “In our hotel, I had to stand in line every night for the one phone with international dialing access,” she continues.

biz.hk 12 • 2016

“Through the years, I swapped my paper notebook for a Blackberry, then an iPhone, and then a mini iPad; and now I have a Blackberry, an iPhone, and an iPad Pro. It can be so hard to keep up with change. But it means I can speak to my daughter in real time face-to-face.” “Change can no doubt be difficult. But our ability to deal with change is second only to our potential,” she adds. “With that, I ask you to remember that change is great and challenge you to be inspired by change. In fact, we should all spend more time thinking about the sort of change we want and sharing our wisdom to make sure change happens for the better.”

What Change Means The notion that people crave for change has taken a somewhat different level of meaning. “Change feels more like a reaction now,” Ko notes. “The economy is changing, so we have to react; the job market is changing, so we have to react. Change isn’t just about reacting but also about progress and thinking forward, and we should embrace it. The truth is that we do it every day because our personal circumstances change, our family changes, our job changes, and that is a good thing.” It is also about seizing the opportunity brought upon by change. Eastman Kodak had been reluctant to move from photographic film to digital technology commercially despite its very own invention of the world’s first digital camera in 1975 by a young engineer named Steven Sasson, she points out. “Kodak enjoyed lucrative patent rights for a limited period but ultimately filed for bankruptcy five years after those rights expired. Kodak had an inside track on something but chose to retreat from change.” The lesson here is: Hong Kong’s equity capital market has been the envy of many other markets over the last 20 years, with countless success stories of businesses going public on the stock exchange, but cannot afford to be complacent, Ko cautions. “We’ve attracted market leaders and high-profile international brands onto our exchange, but those game-changing listings will be much harder to come by as the world embraces Fintech, Biotech, Bitcoin, Big Data, Robotics, Artificial Intelligence and next-generation technologies.” “We should look beneath the top IPOs, which gave us the ranking, to see if we have the depth, breadth and quality of companies we want to attract to help our market grow in profile quality and depth of liquidity,” she stresses. “Unless we act now and capture the corporate icons of tomorrow, and unless we re-discover the appetite for innovation and evolution, we risk being put aside as not being competitive, or worse, irrelevant.” “Ultimately, we want a diverse market attracting not only Chinese companies but other thriving businesses regionally and globally,” she adds. “And we want a market that is a quality market for institutional as well as

biz.hk 12 • 2016

retail investors. We also want Hong Kong to play a crucial role as the Belt and Road initiatives are implemented. A dynamic market requires change. We either create the path for ourselves, or we will lose our relevance.”

The Progress of Change On gender equality, Hong Kong has a long way to go, Ko believes. With only 11.6 percent of women on corporate boards, “it is simply terrible and absolutely not good enough. In the whole of last year, we have only gotten five additional women and one from Hong Kong. One of the things we can all do is to use our influence to raise awareness, the fun, the importance and the learning that you can get out of putting yourself forward as potential board members. That’s something all of us can do, and we don’t have to wait.” “You may not believe it, but every single person from all walks of life has influence,” she suggests. “If you are in a corporate position and when there is a vacancy, don’t just reach out to the usual suspects, ask for alternatives. If every company that comes to our stock exchange each year had at least one woman on their board, we would have 200 women a year. And it is not just at the board level; it is even more important at the management level where you create a pipeline. This is a responsibility that everyone who works for a company needs to pay attention.” Moreover, young people are increasingly looking for meaning and a purpose in their life, Ko notes. “We have to inspire them and encourage that there is something in what they do. It is not just the paycheck. We need to create the connectivity to help make them feel there is something beyond the piece of work they do on a day-to-day basis, and it includes things like CSR, sustainable businesses, or something which contributes to the community. Although I don’t have the magic bullet, it is something I believe is important.” “And I am a firm believer that people should be able to develop at different paces in an environment whereby people can be assessed depending on their ability and their development. It doesn’t have to be everybody being in the legal profession or becoming something in three years,” she says. “I went into law not because I was passionate about it; I came back to Hong Kong and joined a firm nobody had heard of. It is opportunity in front of you.” “If you concentrate hard enough, you’ll succeed and get a lot of satisfaction because you can make things happen,” she believes. “Being at the right place at the right time helps, but at the time, you can create your own luck. You just carry on, and there will be more opportunities. I did my first IPO project when no one else could speak Mandarin, and I didn’t even speak Mandarin. Doing one is like an accident, but if you do two, you start to build a track record.”

Ourselves, Our organizations, Our society In two panel discussions and a workshop led by prominent women leaders, conference participants learn: how to improve leadership effectiveness through increased self-awareness, how to lead through complexity, and how to influence wider societal change to enable opportunities for women and others

By Jennifer Khoo

Our Society:

Influencing wider societal change to enable opportunities for women and others

hough recent momentum behind the global equality movement has been encouraging, we still have a long way to go. From raising awareness of issues and influencing change at home, to readjusting priorities and leveraging their corporate careers; these four panelists share their winning tactics in the battle for social progress.

Raising awareness Joanna Bowers, Director at Cheeky Monkey Productions Asia, channeled her passion for filmmaking into a Kickstarter-funded documentary project aimed at influencing social change right here in Hong Kong. The documentary called The Helper – will tell just a few of the stories of the more than 330,000 migrant domestic helpers living in the city. At the very beginning, the project was met with various hurdles, including controversial backlash and a shortage of

funding. Then in 2014, following Hong Kong’s high-profile case of Indonesian domestic helper Erwiana - who suffered domestic violence and abuse at the hands of her employer - the issue of domestic helpers was propelled into the limelight, upon which, Bowers says, “doors started opening.” Then one day she found herself at the Domestic Workers’ Round Table (DWRT) led by ex-Hong Kong Democratic Party leader, Emily Lau, and academics from Hong Kong University, where Bowers says she came “face-to-face with everyone she would ever need to speak to on the issue.” Financially, things were also looking up. Her Kickstarter campaign for The Helper managed to raise over US$85,000 in total, exceeding her target by over US$5,000. The success of the fundraising campaign helped to reinforce the importance of the issue and the significance of the project she was undertaking. With only previous experience developing short-length clips and

commercials, The Helper was to be her first full-length feature documentary. Although initially a daunting prospect, Bowers says her previous filming experiences have helped build her confidence for something more significant when an opportunity presented itself. She says, “The project has captured the spirit and mindset of a global shift towards women supporting women. Audiences are realizing how important these women are and the sacrifices they have made, so that we today can leave home and the children to work on our careers as well.”

Influencing change at home Kathleen Ferrier, Co-Founder of Bright Hong Kong, believes that acknowledging the reality of social inequality and understanding our places in it are the first steps towards enabling change. “As a child, it is important to understand the implications of inequality and to be grateful to the women – like domestic helpers – who are here taking care of you instead of their own children, so that your mother can do what she wants,” she says. Born and raised in multi-ethnic Suriname, Ferrier was exposed early on to the realities of social injustice despite growing up with privilege. Her late father - the first President of Suriname following its independence - and mother both

biz.hk 12 • 2016

worked hard to teach their daughter the value and strength of diversity; a lesson Ferrier is determined to teach her own children, and others as well. Urging conference attendees, she says, “As parents you are educating the next generation that we do not live for ourselves alone, that we are part of the international community.” In a nutshell, education should begin in the household. “We do not have to wait till we have the money or position to influence change in our communities. Change starts at home,” she adds.

Readjusting your priorities For Shalini Mahtani, MBE, growing up in a conservative Indian family in white colonial Hong Kong was a struggle. Her early encounters with discrimination eventually led her to start Community Business, a unique NGO that works in Corporate Social Responsibility and Diversity & Inclusion, tackling social injustices in the private sector. Upon asking successful women leaders during her time at Community Business what they would have done differently in their careers, many of them said the same thing: that they wouldn’t have made certain sacrifices mostly times with their family, particularly their children. This is a retrospection Mahtani can empathize with more than most. In 2009, tragedy struck when her threeyear-old son Zubin suddenly passed away. This led her to found Hong Kong-based think tank The Zubin Foundation, which focuses on critical issues that receive little attention such as patient safety, racial integration and special education needs of non-Chinese speakers; and subsequently HospitalAdvisor, a “TripAdvisor for Hong Kong hospitals” which allows patients to review the quality of care in Hong Kong’s hospitals so that they can make informed decisions about their hospital care. Like many women today, Mahtani juggles family life alongside her career ambitions, though she often wonders at

biz.hk 12 • 2016

From left: Joanna Bowers, Kathleen Ferrier, Shalini Mahtani, Vanina de Verneuil and Alia Eyres (moderator)

what cost. “As women, we face many pressures to achieve in order to define ourselves as equals, but what do we give up?” she asks.

Leveraging a corporate career Upon starting her career, Vanina de Verneuil, Global General Counsel, Reliance Communication (Enterprise) & Global Cloud Xchange, put her passion for humanitarian work on the backburner, determined to succeed in the world of business first. A former corporate lawyer, Verneuil worked at a legal firm with a probono program that afforded her the chance to be a senior prosecutor at the United Nations International Criminal Tribunal for Rwanda in Arusha, Tanzania. There, she became inspired and realized that her career in law could be an avenue for humanitarian work. Newly motivated to merge a long-held passion with her career, and to return to Africa for a second and subsequently third, time, Verneuil spoke to her managing partner in Asia, explaining the importance of firm’s probono program for her personally,

what she was contributing to the UN, and finally what it meant for him to have someone from his team at the trial. “How to influence others is to show them how your goals align with theirs, and then being persistent,” she says. Vernueil acknowledges she has been lucky, and that it isn’t easy to leverage a corporate career to pursue humanitarian work outside of the traditional CSR. In her case, she credits a change in mindset that includes not taking no for an answer. “What would you do if you had no cultural or financial barriers and were fearless?” she asks pointedly. Corporations, for their part, can reach out to see what their employees are passionate about and create internal opportunities for them to get involved in, she suggests. All four panelists agree that businesses have a responsibility to demonstrate support for social change through sponsorship and actions, and should exercise their “spheres of influence” to open doors and form partnerships within the community. But ultimately, the responsibility to influence change lies with all of us. Mahtani says, “You are in a position of privilege, so use it.”

Our Organizations:

Leading through Complexity

eing a female leader in the workplace is challenging enough at the best of times. But for these five women, it was amid times of uncertainty that the most valuable lessons were revealed.

When the going gets tough For Marybeth Hays, Chief Merchandising, Marketing & Supply Chain Officer at Walmart China, the opportunity to lead through complexity was built into the job description. Within the merchandising industry, Hays has developed something of a specialty in turnaround management, having successfully led four turna

round situations involving businesses worth between USD2 billion and USD20 billion, annually. She says one of the hardest aspects of leading an organizational turnaround is making critical, strategic decisions and being unable to see the results of change immediately, but that management can help themselves by simply speaking to their employees. “People in troubled organizations usually know what needs to happen, but for some reason they either feel that they can’t do what needs to be done, or something is preventing them from doing it,” says Hays. “As a leader, it is your job to either empower them or remove the roadblocks,” she adds. Predictably however, language and cultural barriers can sometimes get in

From left: Sammi Cho, Vivian Cheung, Marybeth Hays, Christina Ma, Daphne Yiu and Anne O’Riordan (moderator)

the way of strategy execution under foreign managers like Hays working in Mainland China, who often finds herself “lost in translation.” For a leader whose role requires dealing with both top-line management issues and day-to-day operations, exercising a little humility can go a long way, as people at all levels of the organization will be more willing to help you, she says. Hays’ role also involves leading the company through the global shift away from traditional ‘bricks and mortar’ retailing, and towards online retailing. This presents a challenge in developing countries where Walmart has a presence, like China and India, where ‘bricks and mortar’ retailing is still largely preferred by customers, and the market for online shopping is relatively young as compared to Western countries. In these situations, she asks, “How do you convince your [local] teams that this is the way of the future when they’ve known nothing else?”

Don’t overlook empathy Vivian Cheung, Deputy Director of Airport Operations at Airport Authority Hong Kong (AAHK), believes empathy is an important trait to possess when leading change. Taiwanese-born, US-educated Cheung was involved in developing the technology for the operations behind Hong Kong’s new international airport in 1998. After the success of Hong Kong International Airport, many foreign airports wanted to work with AAHK in the hopes of improving their own. One project Cheung worked on was the revitalization of Zhuhai Airport in Mainland China. When she and her team went over in 2006, it became clear that they had inherited the city’s ‘white elephant.’ The airport was not only suffering from a lack of business and flights, but its entire workforce was

biz.hk 12 • 2016

demoralized and lacking a sense of purpose. Cheung found that the key to effective leadership during this project was to gain the trust of the local government and airport staff by being empathetic towards them, and demonstrating passion for what she and her team were trying to achieve. “We made sure each person understood what was trying to be achieved and how it would improve their situation, so now they are all internally motivated to work towards the same goal, and not only when they are being told to do so by the leadership,” she says of the Zhuhai airport staff. In just three years since the start of its partnership with AAHK, Zhuhai Airport has transformed. With six million passengers passing through daily, it is now operated by a motivated workforce who keep things running smoothly. As a female leader it can be difficult to talk about empathy as we are often under pressure to be assertive and vocal to ensure our voices are heard, says Cheung. The solution is to reeducate communities on the importance of leadership qualities which don’t get as much credit, such as empathy, humility and passion, she adds.

No one-size-fits-all Daphne Yiu, PhD, Professor and Chairperson of the Department of Management at CUHK Business School, The Chinese University of Hong Kong, believes that successful leaders possess the ability to adapt solutions to different situations. Based on her own research, Yiu says the biggest lesson she has learned is that business and management ‘best practices’ simply won’t work in many parts of Asia due to cultural idiosyncrasies. In Mainland China and other East Asian countries like Korea and Japan for instance, organizational management

biz.hk 12 • 2016

styles are very ‘top-down’ and autocratic, in contrast with the more consensusseeking, democratic management styles of the West. Yet many state-owned enterprises in Mainland China have been privatized, internationalized, and even listed, having successfully adapted business ‘best practices’ to work within their unique structures. Taobao, China’s most popular e-commerce website, is a great example of how a foreign business model was successfully reengineered and adapted for the domestic market. Initially labelled the ‘Chinese eBay,’ Taobao is now the largest e-commerce website in the world by monthly unique visitors, surpassing even the American e-commerce giant from which it took inspiration.

Taking chances on others Sammi Cho, Chief Executive HK Branch and Chief Operating Officer of Asia Pacific Region at BNY Mellon, learned a valuable lesson about leadership amid uncertainty after a personal experience with her boss. Just a day before she went on maternity leave, Cho’s boss offered her what is now her current role, which included wider oversight of the Asia region. Unsure of how to respond to him amid a gut feeling she may not want to return to work after giving birth, Cho said she would think about it, thinking that perhaps he knew something she didn’t. True enough, following a few months of what she facetiously referred to as “diaper duty,” Cho felt ready to return to the workplace and take on the regional role that was offered to her before she left. Grateful for her boss’ foresight and his faith in her, she says, “A good leader is someone who takes chances on others, based on the ability to see what they may not.”

Leaving the comfort zone What Christina Ma, Head of Greater China Equity Sales at Goldman Sachs Asia, learned from her experience as a woman leader, is that leaving your comfort zone amid shifting circumstances is necessary for both personal development and survival. Prior to her current role, Ma was a trader for seventeen years and enjoyed it immensely, during which the thought of switching jobs never even occurred to her. But towards the end of 2014, she was offered a role “ideally filled by someone male, from the PRC, and with an existing client relationship, to address a shift in the market characterized by a new crop of clients from the Mainland looking to become more active in Hong Kong,” she says. Despite not meeting the traditional criteria for the position, Ma pushed herself to take on the challenge. This was a big transition for her professionally and personally, requiring significant change from her trader’s mindset to one that is people-oriented. Shifting market conditions, evolving technology and an increasingly complex regulatory environment have disrupted the nature of many jobs within the financial services industry, displacing many. Ma says it is crucial to constantly push ourselves to keep up with the pace of change, or risk getting swept away by it. “The one characteristic that helps people deal with change is the ability to keep learning. The minute you stop thinking about learning about not only the current environment but also anticipating new trends is the day you get taken out of the door,” says Ma. “You have to push yourself out of your comfort zone, because only when you push yourself can you anticipate what’s coming next,” she concludes.

Ourselves:

Increasing our self-awareness and leadership effectiveness

s leaders, we naturally anticipate and visualize success, but managing conflict effectively is perhaps the most crucial part of the job. According to the American Management Institute, any effective leader spends about 30 percent of his or her time dealing with and managing conflict. In a workshop led by Divya Ahluwalia, a communications training consultant at Templar Advisors, and facilitated by Rina Hiranand, Strategy Director at social@Ogilvy Hong Kong, participants learned five tools for success when engaging in a difficult conversation. 1) Be objectives driven – Make sure expectations are clearly set before the meeting so that people don’t feel ambushed and aren’t put on the defensive unfairly. 2) Establish a common purpose – When inviting someone to a difficult

meeting or discussion, don’t make it all about your own needs. Be clear about how the meeting will seek to resolve the issue for all parties. 3) Be curious, not furious – Seek to understand before being understood by asking questions and listening from a place of authenticity. Don’t just wait for your turn to speak. 4) Adopt the “Yes and…” stance – After hearing their story, know that it is okay to tell yours. Create an atmosphere where two opposing perspectives are allowed, and try to avoid using the “Yes but…” phrase which doesn’t build a common story or purpose. 5) Use “I” sentences – Take responsibility and accountability for the issue by framing it in relation to the impact it has on you, rather than attacking or blaming the other person right away.

Ourselves: Increasing our self-awareness and leadership effectiveness Divya Ahluwalia Communication Training Consultant, Templar Advisors Rina Hiranand Strategy Director social@Ogilvy Hong Kong Helene Liu Executive Director, The Beauty Group

Our Organizations: Leading through complexity Vivian Cheung Deputy Director – Airport Operations, Airport Authority Hong Kong Sammi Cho Chief Executive HK Branch, and Chief Operating Officer Asia Pacific Region, BNY Mellon Marybeth Hays Chief Merchandising, Marketing & Supply Chain Officer, Walmart China Christina Ma Head of Greater China Equity Sales, Goldman Sachs (Asia) LLC Daphne Yiu, PhD Professor and Chairperson, Department of Management, CUHK Business School Anne O’Riordan Senior Managing Director – Global Life Sciences, Accenture

Our Society: Influencing wider societal change to enable opportunities for women and others Joanna Bowers Director, Cheeky Monkey Productions Asia Ltd Kathleen Ferrier Co-Founder Bright Hong Kong Shalini Mahtani, MBE Founder, The Zubin Foundation and Hospital Advisor Vanina de Verneuil General Counsel, Reliance Communications (Enterprise) & Global Cloud Xchange

From left: Divya Ahluwalia, Helene Liu (introducer) and Rina Hiranand

Alia Eyres CEO Mother’s Choice

biz.hk 12 • 2016

WOI AWARD WINNERS

2016 AmCham WOI Award Winners:

(Front row, from left) Sandra Walters, Master of The Arts; Anson Chan, Lifetime Achievement; Jenny Bowen, Non-profit Leader of the Year; (Back row, from left) Fanny Cheng on behalf of Marriott International, Best Company for Women; Sam Soranson on behalf of Ben Way, Champion for the Advancement of Women; Lori Granito, Entrepreneur of the Year; Stephanie Hui, Professional of the Year; Sandra Leung, Young Achiever of the Year

biz.hk 12 â&#x20AC;˘ 2016

Lifetime Achievement Anson Chan Convenor, Hong Kong 2020

By Kenny Lau

here are few – men or women – who have accomplished as much as Anson Chan, former Chief Secretary of the Hong Kong government under British colonial rule and after the handover to Chinese sovereignty in 1997. In nearly forty years of public service before retiring in 2001, she played a key role in the development of Hong Kong’s economic infrastructure, including the new international airport, port expansion and deregulation of the telecommunications market. As Chief Secretary, Chan was the first woman and the first Chinese to hold the second-highest governmental position. She is well known for her stand on transparent and accountable government, on democracy and on safeguarding the rights and freedoms enshrined in the “one country, two systems” concept. “I believe in equality, human dignity and a pluralistic society. I believe in a transparent, honest and accountable government. And I believe that all of us have a part to play in creating a fair and just society where every individual can realize his or her potential irrespective of race, sex or religion,” she says. “I’ve learned in my career that ‘no man is an island,” and we all need support and teamwork to deal with the tasks at hand.” “A particularly rewarding aspect of my role as Chief Secretary responsible for the 190,000-strong civil service was the opportunity to set the tone for ethical, clean, compassionate leadership and to lead by example, nurturing talents within the service and ensuring that capable officers had opportunities to develop and

assume leadership in their respective departments,” she adds. A lifetime achiever, Chan is a recipient of the Grand Bauhinia Medal (Hong Kong SAR’s highest honor) and is an honorary Dame Grand Cross of the Most Distinguished Order of Saint Michael and Saint George, an honor conferred by Her Majesty Queen Elizabeth II of Great Britain. She also holds the title of Chevalier of the National Order of the Legion d’Honneur, an honor conferred by the President of France. Despite her retirement, Chan remains active in the community. In December 2007, she stood as a candidate in a by-election for a seat in the Legislative Council and won by a convincing margin. Chan is also Convenor of Hong Kong 2020, a small think tank focused on democracy and governance issues, and a founding director of Project Citizens Foundation which aims to promote civic awareness and participation. Her story in Hong Kong started in 1948 when she came here with her family from Shanghai. “We expected to stay only temporarily until the civil turmoil in the mainland died down. That was not to be,” she recalls. “I grew up in a large family where I was influenced by a strong sense of public service. My upbringing was strict, and I was encouraged to pursue higher education and cultivate a sense of duty to family and society.” An alumnus of Sacred Heart Canossian College and the University of Hong Kong, Chan joined the Hong Kong government straight out of university “after responding to a newspaper advertisement and passing the stipulated examinations,” became a civil servant, and soon learned that in public service, there is no such thing as privacy because “every aspect of your life is open to scrutiny.” It can also be a challenge having to “deal with the occasional chauvinists who have pre-conceived ideas about what roles a woman should have,” she notes. “My advice is to deal with these people firmly and politely, without losing your cool, and to always rely on reasoned arguments to prove your case. More importantly, I see equal opportunities for women in all the ranks of the Civil Service. There is no artificial impediment to rising to the top.” “What you should do is to make a conscious choice about what you want to do with your life and to give it your very best, whatever it is that you are looking to achieve,” she believes. “If you want to pursue a career, pick something that interests you. And your interest may not be apparent at first; so, it is perfectly alright to give different jobs a try before deciding on what is right for you. “Another point is, it is not always easy to strike a balance between work and life. Sometimes, we need to learn to say ‘no’ and not take on more than what we can handle. Your priorities as a professional woman may also change from time to time.”

biz.hk 12 • 2016

Professional of the Year

Stephanie Hui Head of Merchant Banking Division, Asia Pacific Ex-Japan, Goldman Sachs By Jennifer Khoo

hen Harvard graduate Stephanie Hui entered the world of finance fresh out of college, little did she know that her intended year-long stint would grow into nearly two decades. Hui started her career at Goldman Sachs as a financial analyst in 1995, rising swiftly up the ranks to Managing Director in 2006, then to Partner in 2010, and to her current role as Head of Merchant Banking Division in Asia Pacific, Ex-Japan in 2012. Hui’s role requires weekly travel to different parts of Asia in search of good investment opportunities, often meeting with entrepreneurs and promising young companies with the potential to become market leaders, then ultimately deciding whether to invest in them. Under her leadership, her team has made significant long-term private equity investments in leading companies across Asia. She currently oversees over US$3 billion in investedcapital and since joining Goldman Sachs, she has led and worked on many of the firm’s landmark and most successful investments, bringing capital and international expertise to Asian companies. Hui finds her role energizing, but certainly not without its challenges. “To excel at the investing business, one needs to be a consistently good judge of macro trends, companies and characters over a long period of time. Even if one has good judgment, given the competitive nature of the private equity business, one

biz.hk 12 • 2016

also needs [the right skills] to convince the entrepreneurs to let others invest,” says Hui. The Goldman Sachs name certainly helps, but being able to build relationships and trust with these individuals is also critical, she adds. With all these things considered, Hui says making a successful investment requires “all the stars to align.” But the demanding nature of Hui’s role is also a source of motivation. “The difficult nature of this job makes it the even more rewarding when we do it well,” she says. In addition to the passion she has developed for the investment business over time, Hui attributes her long stay at the company to the quality of people she works with. “A rewarding aspect of my job is being able to work shoulder-to-shoulder in the trenches with a group of diverse, talented and equally passionate individuals who are also just good and fun people,” she says. Speaking of people, Hui says the most important lesson she has learned during her career so far is that more can be achieved by working together. “I have learned to hire the right people and then coach and empower them. Everyone is different, and as a manager, I need to understand how to bring out the best in each person,” she says. On the issue of gender in the workplace, Hui says the challenges women face – herself included – are two-fold, namely biases and work-life balance. On biases, she says, “Despite the modern age, people still have fixed ideas of what business leaders are supposed to look like, and I have had my fair share of being dismissed or overlooked at meetings over the years. My advice to others is to be resilient and have a clear sense of purpose because such biases can only be overcome by more women from this generation achieving professional excellence.” On work-life balance, Hui continues, “Women still take up a bigger share of the household duties, particularly in Asia. My job requires intensive travelling around the region. It has been tough physically and mentally at times trying to juggle a young family and the work schedule. My advice to others is to prioritize intensely - focus on being perfect on things that matter but not everything. It is also important to stay healthy and maintain a good sense of humor.” On women in finance, Hui says, “I firmly believe that a woman can do any job in finance, or in any field, for that matter. The key is finding one’s passion and making the best use of one’s talents. We need more women in senior positions in general, particularly on the revenue generating side, and my advice to the younger generation is to find a place with people you respect and try to stay. “Find mentors whom you respect and trust and build a strong relationship with them. There will be ups and downs in the industry as well as your professional and personal life – be patient, tenacious and think long-term. And finally, coach the next generation and pay it forward,” she advises.

Non-profit Leader of the Year Jenny Bowen Founder & CEO OneSky For All Children

By Kenny Lau

aving saved the lives of over 130,000 orphan children, Jenny Bowen is undoubtedly the most inspirational social entrepreneur working in China today. Her initiatives have moved local officials because of her selfless, sustained dedication over the years and have changed the culture of China’s social problem of institutionalized children. In fact, her achievement is simply “unprecedented” and has proved that “one woman can change the world.” Bowen founded Half the Sky in 1998 to help abandoned little girls left behind in China’s orphanage. In less than a decade, a dream that was Half the Sky became OneSky, growing into a global NGO that has transformed the lives of many thousands of marginalized children and expanding into other developing countries for the welfare of all children – a journey reflected in her memoir, Wish You Happy Forever: What China’s Orphans Taught Me About Moving Mountains. Before her endeavor with OneSky, Bowen was an independent filmmaker and screenwriter living in southern California with her husband Richard, a cinematographer. “Though I had always been drawn to social issues in my films, I never thought about leaving my career to do something more than talking about the need for social change until we adopted our daughter Maya from a Chinese orphanage in 1997.” “We adopted Maya when she was 20 months old and, even though I thought of myself as a seasoned parent, I was shaken when I became aware of the many ill effects of

institutionalization she suffered: malnutrition, dysentery, parasites, severe delays and, most worrisome, she was emotionally vacant. But happily, we witnessed a miracle: after just one year of loving attention and care, Maya was transformed.” “In one life-changing moment, through my kitchen window, I watched my little girl romping around in the garden with the confidence and joy of a child who’d been adored from birth. And I realized that the simple gift of loving care had changed her life. Right then I resolved to find a way to give children still languishing behind institutional walls the same second chance at childhood.” Today, in addition to OneSky, Bowen serves on China’s National Committee for Orphans and Disabled Children and on the Expert Consultative Committee for Beijing Normal University’s Philanthropy Research Institute. She has been honored with the Skoll Award for Social Entrepreneurship, the Jefferson Award, the Purpose Prize, and AmCham’s WOI Entrepreneur of the Year Award. “In some ways, being foreign and a woman, unable to speak a word of Chinese, made my job easier. Nobody saw me as a threat – just a strange foreign mommy with a big heart. I had the great fortune of meeting Zhang Zhirong, a woman just as passionate about children, and we started some pilot programs. Even officials saw how the children were transformed by nurturing care and stimulation.” Along with China’s economic growth is an emerging Chinese philanthropy sector which has empowered local partners to fund and operate programs for the benefit of children. An increasing number of Chinese citizens are indeed helping through Chunhui Children, an all-Chinese sister organization of OneSky, and are enabling the shift towards training, mentoring, and creating low-cost, scalable model programs for children who have once been forgotten. “Without a doubt, it is most rewarding to witness the children in our programs blossom just as my own precious Chinese daughters have done. Tens of thousands of them. I wish I realized sooner how important it is for all of us to invest in the world’s most vulnerable children so we can bring about a better world. Had I realized that, OneSky would have been my first, not second, career.” Already, OneSky’s programs are making life better for orphaned and abandoned children living in institutions and left-behind children in rural villages. Next year, it will reach children living in tenements of Vietnam’s industrial zone where their parents work. In the following year, OneSky plans to open a training base and an early learning center for marginalized children in Hong Kong. “Everyone can make a difference. My advice is to start small, listen to your heart and your intuition, and don’t be intimidated. Both Maya and Anya, my second Chinese daughter, are college students now; as I look forward to celebrating their graduations in a few years, I am just as committed to ensuring that OneSky reaches as many children as we can as I was that day I watched Maya romp in our garden.”

biz.hk 12 • 2016

Entrepreneur of the Year Lori Granito Kitchen Sync Culinary Incubator Managing Director, Go Gourmet Group of Companies

By Kenny Lau

s co-founder of Kitchen Sync, Hong Kong’s first culinary incubator for start-up food entrepreneurs, Lori Granito has made it accessible for those without much capital to realize their dream of launching a successful culinary business in a city which she has called home for the past 25 years. Her entrepreneurial spirit and “can-do” mindset have encouraged many individuals to embark on their journey of personal and business transformations. Granito is also the owner of Go Gourmet Catering and the award-winning Magnolia private kitchen. The ongoing success of her companies speaks for itself and is directly attributable to her vision, energy and skills. With a strong commitment to women entrepreneurs, Granito is a community leader with recognized achievements, and more importantly, she is making a difference by helping those who are in real need of support. “I think a lot of people underestimate just how tough the food business is,” she says. “While people in Hong Kong love to try new foods, for an entrepreneur, navigating the combination of high rent and sometimes arduous licensing process can be daunting. Apart from rent, staffing is probably one of the biggest challenges in the industry now.” The concept behind Kitchen Sync is very similar to that of a tech incubator, except that it works with food start-ups in their early stage. One of the biggest obstacles in starting a food-related business in Hong Kong is the extremely high cost of setting up a commercially licensed

biz.hk 12 • 2016

kitchen or a “food factory.” The culinary incubator, often referred to as a “shared-use commercial kitchen,” is a time-tested successful concept swapping out office space for kitchens. Kitchen Sync’s Culinary Kitchen exists to help food entrepreneurs overcome the barriers laid upon potential businesses by providing an equipped, commercially licensed, shared-use kitchen. The kitchen is full of the necessary tools to turn an idea into a viable commercial reality, and it has everything: professional ovens, refrigerators, freezers, mixers, worktables, pots and pans, utensils and storage space. The most essential part of the equation with Kitchen Sync as a culinary incubator is that it makes it financially possible for a start-up food entrepreneur to take advantage of professional kitchen space while they grow their business. Members pay a monthly fee for a fixed number of hours, and they can use the incubator to launch, produce and sell their products, doing so all in compliance with Hong Kong’s regulations. Granito comes from a family of entrepreneurs, and most of her family are owners of their individual businesses. She started at a young age and had a wide range of businesses: selling praline candies she made in junior high school, launching a lawn-mowing business with her brother when she was 12 (for which she was responsible for making sales and serving lemonade while her brother did the actual mowing), and opening a “magic show of tricks” with a gift she received for Christmas. Because of her achievements, Granito has received numerous accolades in local and international press outlets, including the Sydney Sun Herald, Travel and Leisure, Time, Newsweek, Forbes, Essence and The Robb Report. Her television appearances include TVB Pearl’s Money Magazine, CNBC’s The Winners, CNN’s Global Office, and a six-week run on Bloomberg’s Asia Confidential. She was previously named Entrepreneur of the Year by Skal Hong Kong, a hospitality industry organization, while Magnolia was awarded Sassy Hong Kong’s Favorite Private Kitchen in 2013, 2014 and 2015. She is a highly sought-after speaker and was a featured lecturer at HKU’s MBA program, Google and AXA, in addition to serving as chairwoman of the Hong Kong Women Business Owner’s Association and as vice-chair of the Soho Association. “After 25 years in Hong Kong, my focus is going to be on continuing to mentor up-and-coming food entrepreneurs with great business ideas; we are also crossing into food tech and developing an online B2B platform connecting wholesale food buyers and sellers. It is incredibly rewarding to see people enjoying something you’ve created.” “For aspiring food entrepreneurs, you have got to be tough to make it in this business. Be prepared to fail, but also be prepared to dust yourself off and get back in the game. I would also say that people should not jump into it blindly without some research and that they need to make sure they are not doing the same thing 20 other people are doing.”

Don’t overlook empathy

Master of The Arts Sandra Walters Director, Sandra Walters Consultancy Ltd By Kenny Lau

andra Walters is an influential voice in Hong Kong’s contemporary art scene. Since forming Arts Promotion to present established French artists more than 40 years ago, she has met numerous local artists and discerned the need to create a market in which careers can be nurtured through exposure and education. “As a gallery owner and director, I had the opportunity to help artists develop their careers and to encourage clients to better understand their preferences,” she says. “As a consultant, I have been able to participate in the creative process. It has always been exciting to take a project and see it develop from the drawing board to the final stage.” The opportunity to explore her interests in the arts presented itself in 1973 when a dear friend – the late Josette Bertrou of France – asked for her help in staging an exhibition of French fine art graphics. It was a novel idea from which they embarked on an adventure, and it allowed Walters to eventually “turn an avocation into a vocation.” It was at a time when “venues to stage exhibitions were few and an appreciative audience was practically non-existent. After Josette left Hong Kong, I continued to build other relationships and, with Alice King, in 1985 Arts Promotion was incorporated into Alisan Fine Arts. It became one of Hong Kong’s premier galleries and a pioneer in Chinese contemporary art.” In 1987, it also organized an exhibition named “A State of Transition” – one of the first exhibitions in Hong Kong to feature contemporary Mainland artists. In 1990, she not

only established Mandarin Oriental Fine Arts, staged exhibitions for Western and Chinese artists, but also became an advisor to hotels, corporations, professional firms and collectors on acquisitions, display and maintenance of artworks. A native of Sanborn, Minnesota, Walters has spent little time living in the US starting from a young age because her father was a career diplomat and her family moved to new countries over the span of 14 years. They lived in Bolivia, Panama, Rome, London, Paris and Hong Kong where her father held his final posting with the US Diplomatic Service. “I became a citizen of the world, embracing what I thought was the best of each culture, studying their history, attempting to learn the languages, thriving on the various cuisines, viewing their art and praising their architecture,” she says. “I cannot imagine a world without aesthetics and beautiful objects to view. In fact, her life-long fascination for all things French, its language and rich culture was ignited within days of her visit to France in 1962 as a teenager. The experience changed her life, and she returned to the University of Minnesota with a focus on French Studies and graduated in 1966. She met Dr Richard Walters during her senior year, and they got married a year after graduation. Together, they joined the US Peace Corps and served in Chad, Africa for two years in health education before coming to Hong Kong on November 10, 1969. “Gravitating around the living artists of Hong Kong, my interest in art expanded to include contemporary art, sculpture, pottery and ink paintings.” “The arts are about celebrating and remembering the diversity of human expression. They play an important part in uniting people across the globe, as they transcend cultural differences and capture the unique qualities of being human,” Walters believes. “They can be reflections of society, providing a key to understanding history of certain periods.” “Choosing art is a means of personal expression and reflects individual personality. Artwork can stimulate our thought process, inspire curiosity in adults and children alike, and engage us to think and learn about the subject matter. Artwork can lead to dialogues and enrich our lives.” In 1988, Walters was awarded the Chevalier de l’Ordre des Arts et des Lettres by the French and the Chevalier de l’Ordre National du Mérite in 2016. She has been so supportive of the arts and artists in Hong Kong in so many ways that she is called “a true pioneer and trailblazer.” Additionally, she has been “a stellar role model” for women as the first female President of the Rotary Club of Hong Kong. “My philosophy has always been to approach challenges with a positive attitude,” she says. “I will continue to mentor young artists and young gallery owners, stage meaningful exhibitions for artists, and help to develop their careers as well as a sense of respect and appreciation for them. Art will always be an important part of my life.”

biz.hk 12 • 2016

No one-size-fits-all

Young Achiever of the Year Sandra Leung COO, Market Development Division, Hong Kong Stock Exchange By Kenny Lau

ike many other young talents, Sandra Leung grew up in a nurturing environment where she was taught to strive for excellence, and she seized every learning opportunity to enrich her understanding of the world through hands-on participation. “I was always reminded that I need to equip myself in the best way possible. My mother once told me that I don’t need to be doing everything in life, but I must learn the right way of doing everything.” Born and raised in Hong Kong and educated locally in one of the best public secondary schools before spending three years for high school in Andover, Massachusetts and another four years at the University of Pennsylvania, Leung is a stellar performer starting from a young age, always attempting to reach above the ceiling by stepping out of her comfort zone, including internships every summer and a semester abroad in Beijing. Because of the exposure, she was taken onto a career path other than what was anticipated. “I actually wanted to go into the hospitality industry and was looking for a college known for hotel management, but I also applied to Wharton as my father had recommended, thinking that I’d get rejected. Life clearly had a different plan for me, and I got into Wharton. Through the curriculum and internship opportunities, I soon realized that business was also very interesting, challenging and multi-faceted.” Leung then spent the next nine years with Goldman

biz.hk 12 • 2016

Sachs here in Hong Kong, moving up the ranks to become an executive director in investment banking and COO of a subgroup. “The unpredictable and long working hours early in my career were the most challenging. I was very lucky to have had a group of incredible mentors who showed me the way to work-life balance. I also learned to be less shy in sharing my thoughts with my supervisors who were amazingly understanding of my needs.” “As I progressed in my career, I needed to learn the art of managing relationships with clients and teammates. For someone relatively young in a senior position, this was particularly challenging. But I think back to what my mother once taught me: as long as I am equipped to do the job, knowledgeable on the subject, fair in every decision I make and effective in communication, it should be fine.” Leung joined the Hong Kong Stock Exchange (HKEX) as COO of Market Development last year in a move “to be on a steeper learning curve and to be on a platform that is constantly growing.” HKEX, she believes, is the perfect platform and the most direct way to move forward the economic and social aspects of the community of Hong Kong – an area in which she is inclined to create substantial value. Outside of work, Leung is an adventurist and a dedicated volunteer. She once took a 4-month sabbatical to enrol in the Basic Cuisine and Basic Patisserie courses at Le Cordon Bleu in Sydney (and graduated). She is actively involved in social and diversity-related initiatives, including serving as a co-vice chair of the HKEX Women’s Exchange. Leung also feels particularly strongly about supporting young ones and attending to issues facing the elderly. “I have been extremely fortunate with my education and career path, with access to the best schools, best advice, best training, best internship opportunities and best jobs; I simply want our young people to have the same opportunities,” says Leung, who is also CFO of Time Auction, an NGO which connects students to mentors while encouraging volunteerism. In a close-knit family, Leung has always had an unparalleled relationship with her parents and grandparents – their wisdoms and stories were not only inspirational but also invaluable in shaping the future leader that is their daughter and granddaughter. As such, Leung is determined to give back and make a difference, however large or small, by addressing the unmet needs of Hong Kong’s elderly. “There are so many elderly in Hong Kong who live alone – bored, helpless and some immobile – with very little love and care; they definitely deserve better.” “Not to be SAPPY, but what I find useful when trying to achieve something – whatever it may be – is to have a Support network of mentors, friends and family; always bring your A-Game, constantly learning to better equip yourself; be Persistent, we are often stronger than we think; surround yourself with Positive energy; and know Yourself – your strengths, limitations, priorities – and act accordingly. Remember that you always have a choice.”

Champion for the Advancement of Women Ben Way CEO, Macquarie Group Asia By Jennifer Khoo

or Ben Way, the issue of gender equality is of both personal and professional significance. Growing up in a single parent household with a mother and a sister - both of whom he says were strong role models in his life - Way realized early on the importance of gender equality. Today, as “the proud father of two strong independent women,” he feels even more passionately about providing the opportunities women need to succeed in society. Joining Australian-listed global financial services firm, Macquarie Group, in 2006 and appointed as its Chief Executive Officer for Asia in 2014, Way oversees the activities of 3,474 employees across 14 offices in 11 markets around the region. From a professional standpoint, he believes gender diversity is fundamental to the success of organizations. “At Macquarie, we see our people as our greatest asset. Having a broad range of experiences, skills and views among our team is a key strength for us,” he says. To stay competitive in today’s global market, businesses must evolve to accommodate the ever-diversifying communities they serve. “We aim to promote a workforce that is reflective of the communities in which we live and operate, and the diversity of our team is important to the services we deliver to our clients,” Way continues. “While gender diversity is just one aspect of a much broader diversity opportunity, it is a very important one. Increasing the number of women in senior management positions enables better decision making and ensures we are always drawing from the broadest range of experiences and perspectives,” he stresses. Way says he feels fortunate to be able to play a role in not only raising gender discrepancies in the workplace, but also being able to address them with proposed solutions. “We have a successful mentoring program at Macquarie in Asia to help build our pipeline of future female leaders,” he says. “This is an important initiative, and I’m pleased to note that since its inception it has expanded considerably to cover a number of locations across the region,” he adds. Further to this, there is a focus on enhancing recruitment practices to help develop a female talent pipeline and conscious decision-making training has been implemented

to help leaders improve the quality of their decision-making and become more inclusive leaders. This is achieved by recognizing how unconscious bias can affect perceptions, judgements and interactions in the workplace. Men too play an important role in the fight for gender equality, and they can do more to help than they perhaps think. “Gender equality is in everyone’s interests and we all have a role to play. It should not be viewed as a female-only issue. We need empowered people of principle to create change, and that means both men and women,” he emphasizes. Way believes there are a number of practical ways for men to demonstrate support for gender equality in the workplace. “Recognize the important role we [men] play in keeping the discussion alive – raise it in the workplace, share ideas and solutions,” he suggests. “We need to be mentors and sponsors of females as they progress through their careers, and we also need to keep talking to our male colleagues about why we are passionate about this and why they should be too,” he continues. Although optimistic about the future, Way acknowledges that we still have a long way to go. “The biggest issue is that people somehow think there is a dichotomy between meritocracy and diversity. This is simply false. The best teams are diverse in every walk of life,” he says. Way is also extremely passionate about global gender equality beyond the workplace. “The ongoing unfair treatment of women around the world remains one of the most significant issues in terms of justice,” he laments. “My hope is to see true diversity in the workplace, and I also want to be part of a world where discrimination against women, especially in terms of human rights, is far less prevalent. We all have a role to play in that,” he concludes. Outside of the office, Way is an active participant in several non-profit organizations which advocate for women’s rights and empowerment, both in the workplace and the wider society. He is a board member of human and women’s rights charity group HAGAR International; a member of The Women’s Foundation ‘Male Allies’ in Hong Kong; the 30% Club; and the UN Women’s #HeForShe campaign.

biz.hk 12 • 2016

Best Company for Women Marriott International, Inc (Represented by Fanny Cheng)

By Kenny Lau

arriott International is the world’s largest hotel company based in the US state of Maryland with more than 5,700 properties in over 110 countries; it is also a company dedicated to providing employees with numerous opportunities and creating a diverse and inclusive work environment. It is indeed the first hospitality company to establish a Women’s Leadership Development Initiative (WDLI). “As the world’s largest hotel company, we not only want to see women represented in leadership roles in all regions where we operate, but we also want to lead the industry and encourage more companies to do the same by nurturing their women employees and providing them with more opportunities to move into leadership roles,” says Fanny Cheng, Communications Executive for Asia Pacific at Marriott International. Globally, women represent 52 percent of Marriott International’s staff and nearly 60 percent of its management; in Asia Pacific, nearly 40 percent of the company’s managers are women. The company has set up numerous development programs since the 1980s in a framework designed to create a conducive environment for growth, learning, mentorship and support among women employees. Over the past few years, Marriott has had a noticeable increase of women in leadership roles. The GM Elevate program since its inception in 2014 has produced 24 women graduates, boosting the number of female General Managers (GMs) across the combined organization by 70 percent; by 2018, more than 70 women GMs are expected.

biz.hk 12 • 2016

To nurture and support rising female talent within Marriott’s group of companies in Asia, 27 ambassadors across 11 APAC countries have been appointed to provide support and mentorship to female employees and to undertake a string of relevant initiatives in their respective markets under the Women in Leadership (WIL) Market Ambassadors program. Marriott’s strong commitment to gender equality, diversity and inclusion is reflected internally in the progressive makeup of women managers and externally in the diversity of business partners and vendors. “Our people-first culture is built on giving associates opportunities to grow and succeed – regardless of gender,” Cheng says. “Quite simply, we want every job in the company to be available to both men and women.” In other words, it is equality in the form of equal opportunity for both men and women. “It is our philosophy because we believe that having more women in leadership positions than we have today brings better decision-making, better performance, and more diversity to the experiences we’re creating for our customers. It is a vital part of our strategy for growth, and we really do believe that this will make us a better company at the end of the day.” “The mentality that men and women should be able to pursue their dream job regardless of gender is engrained in our people-first culture and embraced by all our employees,” Cheng highlights. “Our employees – men and women alike – have been very supportive of all our policies and programs, and they play an important role in ensuring that we can achieve success with our initiatives.” The challenge sometimes is when people do not dare to dream of breaking through the glass ceiling into leadership roles, and it can happen in any sector or industry. “Quotas and support programs can be a great help, but sometimes it takes a simple conversation with each other to get past the mindset that they can’t reach higher up in their career.” “When women professionals have a conversation with each other, it allows more women to share experiences, challenge thinking and inspire each other to achieve their goals and aspirations – whatever they may be,” Cheng explains. “We all need to do so to encourage more women to take on leadership roles.” “And this isn’t limited to women starting their careers; all of us – men and women alike –have a critical role to play in helping women feel supported so that they are able to believe it in a way that is most authentic to them. You and your peers can help you with whatever you are tackling on the job and in your career, and you should make use of that opportunity by reaching out and meeting those around you.” “As we have become the world’s largest hotel company, it’s more important than ever that we lead the industry and continue to promote and support more women,” Cheng says. “Women are vital to the workplace, and we believe equal opportunity and talent development lead us to high performance – and we must strive for this if we want to succeed moving forward.”

INDUSTRY FOCUS

Human Capital Management: A survey of development in executive search, recruitment, leadership succession, compensation packages and employment trends By Jennifer Khoo A.T. Kearney A majority (59 percent) of European C-Suite executives say digital innovation has not delivered high business impact at their organizations, despite the potential opportunity for digital innovation to drive business growth, according to a survey conducted by A.T. Kearney at the firm’s Digital Business Forum in London. Respondents consisted of 100 C-Suite business execu“Survey reveals tives in Europe across the biggest barriers to finance, healthcare, consumer, chemicals, travel, commudigital innovation nications, automotive, and energy sectors, and they among European indicated that integrating new companies.” technologies into an established infrastructure (59 percent) and a corporate culture that is not ready to embrace digital technologies (51 percent) are the two biggest barriers. The potential to catalyze growth is the leading driver of digital innovation, with 36 percent of respondents stating greater customer acquisition as the most significant business outcome of digital innovation, followed by increased revenue (20 percent). Consequently, 68 percent felt that sales and customer services will benefit the most from digital innovation over the next three years.

Adecco The Adecco Group marked this year’s International Youth Day on August 12 with a survey on the expectations of young people about to enter the labor market. The findings reveal that most are confident they are equipped with the right skills to land their dream job and that they see work experience to be what they need most to succeed. The Young People and Work: Dreams and Readiness survey covered 9,572 young adults, aged between 18 and 30 in 13 countries, to gauge expectations “Adecco survey reveals about the world of work and their awareness of optimism among the skills required by young job seekers.” the labor market. Almost 8 out of 10 (77.47%) respondents believe they will find a job within a year upon finishing their studies. More than two-thirds (68.45%) say they have a dream job in mind. Almost three quarters (73.08%) of respondents feel they are equipped with the right skills for work. Young adults in Germany are found to be the most confident (89.11%), while their Japanese counterparts emerge as the most insecure (31.54%).

Brookfield Global Relocation Services Brookfield Global Relocation Services’ 2016 Global Mobility Trends Survey of mobility leaders around the world shows that 10 percent of companies are realizing the benefits of aligning mobility with talent management. These 10 percent are using global mobility as a strategic tool for talent engagement at a greater rate than other companies. For example, they more frequently communicate the importance of international assignments to employees’ careers, send employees on assignment primarily “Brookfield discusses for career development, aligning international and incorporate international assignments into mobility to talent the wider career management.” planning process. The balance of companies remains in a state of evolution. In some companies, strong talent planning processes exist, but international assignments may not yet be fully integrated into overall career development. Other companies are just starting to embrace the importance of international assignments, and high potentials have to “tick the box” of having gone on an international assignment if they want to become a leader. Some companies still treat mobility as a mechanism merely to fill open roles.

biz.hk 12 • 2016

Cornerstone International Group The 2016 Global Business Survey by Cornerstone International Group reveals that 45 percent of those surveyed believe gender diversity is incidental to business performance. Over 60 percent acknowledge that gender diversity is not mentioned in their “Corporate Mission” or “Values Statement.” Increasing the number of women in business management roles has been a high-profile campaign for several decades, with studies indicating that diversity in leadership improves business performance. The momentum now appears stalled. According to another recent survey, the number of female executives worldwide increased by only 3 percentage points – to 22 “Cornerstone survey percent – in the past decade. finds number of Less than 17 percent of women leaders in survey participants have a policy to recruit business faltering.” formal high-value women, and one in four consider it harder to find qualified women than men. Participants in the Cornerstone International Group survey come from 22 countries and represent a broad spectrum of firms having revenues from US$10 million to over US$10 billion.

Egon Zehnder Egon Zehnder earlier in the year released its 2016 Latin American Board Diversity Analysis, a new report examining gender diversity at the board level of leading publicly traded companies in Argentina, Brazil, Chile, Colombia and Mexico. The study finds that at the country level, the role of cultural bias continues to play a significant role in women’s leadership progression. Women continue to face uphill resistance from “Analysis on male counterparts regarding their leadership ability. corporate boards in In the findings, 41 percent Latin America of board chairs and board members said that “continuncovers lag in uing cultural bias” was the gender diversity.” largest impediment for women reaching board positions. Importantly, only 21 percent of the board chairs and members interviewed said their company has special policies or programs to select, hire and promote women from within management. The report is based on analysis of the board composition of 155 major Latin American companies, as well as in-depth interviews with 61 board chairs and female board directors.

biz.hk 12 • 2016

EY In a EY survey, Asia-Pacific women entrepreneurs are found to have growth plans for their businesses despite challenges. Among 143 respondents, 90 percent reported that they plan to scale their business, with 60 percent planning to grow internationally and 16 percent working toward an IPO. Almost two-thirds have explored external financing options; however, 73 percent admitted they found the process “intimidating.” More than half of respondents lack a clear exit “APAC women strategy, something most investors want to underentrepreneurs have stand before providing financing, and more than a an appetite for quarter have yet to replace international themselves in operational roles, spending 40 percent expansion.” of their time working in, rather than on, the business. Only 35 percent have a network of trusted advisors, while 67 percent say establishing one is a priority. For those seeking to expand globally, building a public profile has been shown to accelerate growth; however, only 10 percent felt they were “very prominent” and almost half spend less than 10 percent of their time promoting themselves.

GP Strategies GP Strategies Corporation, a specialist in performance improvement solutions including human capital management, has highlighted in a blog recently the correlation between human error and equipment failure. The human element is noted to be one of those most overlooked assets within a facility. The area of mainte“The human element nance and reliability is linked to 80 percent typically focuses on the strategies aligned to each of equipment failures of the critical assets in and defects.” a facility. While the percentages vary by industry, it’s accepted that 80 percent of all defects are caused by humans due to improper installation, assembly, disassembly, torqueing and lubrication of equipment. A focus on precision maintenance is key to any organization’s reliability and ability to reduce the mean time between failures. Training personnel on standardized precision maintenance can save companies thousands of dollars a year, whether it’s on proper torqueing techniques or precision coupling and shaft alignment – these are a few areas that can lead to improvement in up-time and keep equipment running to specification.

Heidrick & Struggles Heidrick & Struggles has announced a leadership succession for its subsidiary, Senn Delaney, a firm founded in 1978 to focus exclusively on transforming company cultures. Effective January 1, 2017, Jim Hart will retire as President and CEO of Senn Delaney, and will be succeeded by Michael Marino, who has also been named Executive Vice President of Heidrick & Struggles. Marino has served on the leadership team at Senn Delaney for more than 20 years and has led strategic accounts across a wide range of industries, including FedEx, Loblaw, GlaxoSmithKline and USAA. Marino has also been instrumental in new product development for the culture-shaping business as well as integrated products “Heidrick & for the Heidrick & Struggles Struggles announces enterprise. Prior to joining Senn leadership succession Delaney, Marino was an for subsidiary Senn executive at Chase Manhattan Bank. During his 10-year Delaney.” tenure at Chase, he served as a senior human resources executive for APAC, helped establish the Chase-AMP Bank of Australia, and served as country manager of consumer banking for Chase Thailand.

ISI-Dentsu ISI-Dentsu Hong Kong (ISID or ISID HK) has been awarded “Caring Company 2015/2016” by the Hong Kong Council of Social Service (HKCSS) this year in recognition of its commitment to “Caring for the Community, Caring for the Employees, and Caring for the Environment.” The Caring Company Scheme was launched by The Hong Kong Council of Social Service (HKCSS) in 2002, aimed at cultivating good corporate citizenship by encouraging strategic partnerships between business “ISID Hong Kong and social services sectors to create more cross-sechas been awarded tor community projects. ‘Caring Company ISID representatives from Human Resources, 2015/2016.’” Legal & Administration and Marketing Departments attended The HKCSS Convention cum Caring Company Partnership Expo 2016, held on 10 May at the Hong Kong Convention & Exhibition Centre. There were around 100 exhibition booths from social services and social enterprises, and it provided ISID with opportunities to explore long-term community partnerships and further promote its caring spirit within the community.

Kelly Services Hong Kong remains a popular destination for multinational corporations (MNCs) housing their regional headquarters in Asia, according to Kelly Services’ Hong Kong 2016 Salary Guide, noting that Hong Kong, with a solid infrastructure and an independent legal system, will continue to attract new corporations into the city and fuel the demand for talented professionals. Kelly Services, a search and selection recruitment consultancy offering bespoke workforce solutions, continues to witness foreign or Chinese companies setting up head offices in Hong Kong as part of their APAC/China or global expansion plans, despite the high commercial rent levels “Kelly Services year after year. The firm also expects to publishes Hong witness continuous compaKong 2016 Salary ny restructuring and M&A activities across industries Guide.” in Hong Kong, suggesting companies which have not reviewed their structure in the past years may take the opportunity presented in a slowing economy to create a leaner structure and sharpen their competitive edge. There will inevitably be some layoffs and redundancies, but also some new hires for the renewed organizations.

Koehler Group According to the latest Legal and Tax alert by Koehler Group, Beijing is the first city in China to fully adopt a new method for calculating a company’s contribution to the disabled persons’ employment security fund, as a direct result of the issuance of Circular 72 on September 8, 2015. The 2015 rules “Beijing adopts new became effective in Beijing on January 1, methods to calculate 2016, and are expected to eventually be fully impledisability fund mented in other parts of contributions.” the country which are currently still using the 1995 rules (or have implemented the new calculation method but established an upper limit on the disability fund calculation base). While the requirement that the scale of hiring disabled persons shall be no less than 1.5 percent of the total staff is kept in place in the 2015 circular, a new method to calculate the contribution to the disabled persons’ employment security fund has been introduced – in order to determine how much a company should have to pay when it fails to hire a sufficient number of disabled persons.

biz.hk 12 • 2016

Korn Ferry A November study by the Hay Group, a division of Korn Ferry, finds that US companies are putting less emphasis on individual performance and are increasing the emphasis on organizational success when determining incentive compensation packages for sales roles. The study analyzed individual contributor sales compensation data from 2010 through 2016, and found that in 2016, a full third of the companies included the performance of an entire business unit or division when putting together sales force incentive compensation packages. That is more than double the 16 percent of companies which did so in 2010. In addition, the study found that in 2016, 26 “Study finds a shift percent of companies included a corporation-wide in incentive or team performance meascompensation ure when determining compensation, up from the packages for sales 2010 figure of 15 percent. roles.” The study also found that while 83 percent of analyzed companies still measure individual performance for compensation purposes for sales roles, it is down nearly 10 percent from recent years.

KPMG A recent survey revealed that even though social media is a huge part of our lives, most Hong Kong CEOs do not unleash the potential of social platforms, with only about a quarter of those surveyed using social media for consumer engagement, and only one-tenth using social messaging platforms as a sales channel for their omni-channel strategies. The 2016 CEO Pulse Survey, jointly initiated by “Survey finds most GS1 Hong Kong and KPMG China, estimates Hong Kong CEOs that slightly more than ten underutilizing social percent plan to develop structural social media media to grow platforms for consumers businesses.” to search for product opinions and feedback in the coming 12 months. YouGov was commissioned to conduct both the quantitative survey and qualitative analysis on 225 CEOs’ views on their business and e-commerce strategies, as well as a consumer survey collecting feedback from 1,000 respondents, half-and-half Hong Kong and China citizens. It is a Hong Kong-focused comprehensive report on e-commerce from both the CEO and consumer perspectives.

biz.hk 12 • 2016

Management Development Services According to the article entitled Engaging the Next Generation, a substantial portion of the workforce today are part of what is referred to as Generation Y (born mid-1970s to the mid-1990s), and they are poised to become the next generation of managers and leaders. In China, Generation Y are also referred to as the “Young Emperors” who were born after the One-Child Policy in China was implemented. These young, educated Chinese not only make up a significant portion of the workforce, but their “MDS publishes spending power has grown thought-leadership significantly in recent years and will grow substantially piece on engaging the in the coming decade, next generation.” making them one of the most important consumer groups. A recent study by Accenture highlights data suggesting that both multinational and domestic companies who want to be successful in China should be focusing their efforts on young consumers in 2nd and 3rd tier Chinese cities and must be very creative with distribution, use of internet channels, and methods of engagement that will truly resonate with this group.

Mercer The cost for companies to provide medical care to staff continues to vastly outpace inflation in most major economies, according to a new research by Mercer Marsh Benefits, a partnership between global professional services firms Mercer and Marsh. In Asia, medical costs “Mercer releases new are anticipated to increase by 11.5 percent against an research and data on inflation rate of 2.1 company healthcare percent. The research into company-provided cost trends.” employee healthcare plans also found that the costs were largely driven by claims related to employee lifestyle choices, such as smoking, a lack of exercise and a poor diet. The research, Medical Trends Around the World, is based on a survey of 171 insurers across 49 countries (outside of the United States) and shows that, across 40 countries, the average per person increase in healthcare costs is, globally, almost triple the rate of inflation. Cost increases are being driven by non-communicable diseases – those that cannot be caught from other people but are frequently caused by the lifestyle choices of individuals.

Odgers Berndtson Canada’s most promising future leaders have the opportunity to see first-hand how prominent CEOs lead their organizations and to experience the realities of the working world. For the fourth consecutive year, Odgers Berndtson launched its CEO x 1 Day program, which pairs select third- and fourth-year students enrolled in a university or college degree-granting program with 19 leading CEOs from across the country for a job-shadowing experience known for shaping young careers. As part of the application process, students share their understanding and perceptions of what it takes to be an effective leader, thereby uncovering their motivations and indicating how Canadians can expect corporate culture “Odgers Berndtson to shift in the years ahead. Odgers Berndtson first launches fourth launched the CEO x 1 Day annual CEO x 1 initiative in Germany 12 years ago, subsequently Day program.” rolling it out across offices around the world. Today, almost 350 organizations and over 700 CEOs and students have taken part, generating a wealth of insight on the changing nature of leadership and workplace culture.

Resources Global Professionals Resources Global Professionals announced in November that Michael Carberry has joined the firm’s leadership team as managing director of the Carolinas practice. As managing director of the Carolinas, Carberry will be responsible for leading the company’s growth and expansion strategy starting in Charlotte, NC and covering both North and South Carolina. With more than 16 years of audit and consulting experience, Carberry brings extensive experi“RGP hires Michael ence in field leadership, building businesses and Carberry as serving clients. After Managing Director graduating from Chaminade High School in of Carolinas Mineola, NY and Lehigh practice.” University in Bethlehem, PA, Carberry started his career in New York City at Deloitte & Touche Audit and has spent the last 15 years at various consulting firms. In 2012, with nominations from both colleagues and clients, Carberry received Consulting Magazine’s Top 25 Consultant Award for excellence in financial services by exemplifying his commitment to collaborate and partner with his clients to deliver innovative, resultsoriented solutions.

Spencer Stuart & Associates In the 2016 proxy year – despite a small decline in the number of new independent directors elected to S&P 500 boards – the representation of women among new directors hit a new high, according to the 2016 Spencer Stuart Board Index (SSBI). Women account for 32 percent of new directors, the highest rate since Spencer Stuart began tracking this data. A total of 345 new independent directors, or 7 “Spencer Stuart’s percent of all directors, were elected during the 2016 Board Index 2016 proxy year to the 482 reveals latest boards included in the index, and 48 percent of boardroom trends.” these boards added at least one new director. In 2015, 486 S&P 500 boards added 376 new directors. Nearly one-third (32%) of the new independent directors are serving on their first outside corporate board. With the rise of shareholder activism, there was also an increase in investors and investment managers joining corporate boards. This year, 12 percent of new independent directors are investors, compared with 4 percent in 2011 and 6 percent in 2006.

Spring Professional Spring Professional, a wholly-owned professional recruitment arm of the Adecco Group in Asia, has announced its commitment to support the demand for information technology (IT) and engineering professionals in Korea, with an expansion of its Seoul-based team and a new Country Director for Korea. Since January 4, 2016, Spring Professional in “Adecco Korea Korea has been directed by Catherine Kyunghee Permanent Chung, a 14-year veteran Recruitment Division of the permanent staffing team at Adecco Korea repositioned as Spring where she served as Professional Korea.” Managing Director. With a transition from the permanent recruitment business at Adecco Korea to professional staffing at Spring, she brings a wealth of experience to her new role. The Spring Korea Country Director role is also supported by a larger team of experienced recruitment specialists, all of whom were integral members from the Adecco Korea Permanent Recruitment Division. Spring Professional Korea has an exclusive focus on the recruitment of middle to senior level management and specialists in the IT and engineering sectors.

biz.hk 12 • 2016

:H 0XVW 7+,1. $+($' Cornerstone Specializes in Finding Game Changers and Hard-to-Fill Talents

<RXU *DPH &KDQJLQJ 3DUWQHUV 2IÂ¿FHV LQ $VLD :RUOGZLGH

Simon Wan CHINA

David Ealson NEW ZEALAND

Vijay Karkare INDIA

James Ng CHINA

Laurie Oâ&#x20AC;&#x2122;Donnell CHINA

Nancy Chu HONG KONG

Dominic Yim CHINA

Tieu Yen TRINH VIETNAM

John Vijayrangam Markus Wehrhahn Kasper Cheung THAILAND CHINA INDONESIA

Allan Rae AUSTRALIA

William Liu JAPAN

Sonia Vaswani HONG KONG

ACHIEVE MORE WITH CORNERSTONE 5(7$,1(' (;(&87,9( 6($5&+ :+(1 5(68/76 0$77(5

Managing Partner - Nancy Chu : nancy-chu@cornerstone-group.com Managing Director - Sonia Vaswani : sonia-vaswani@cornerstone-group.com

&217$&7 86 )25 025( ,1)2

Chief Executive - Simon Wan: simon-wan@cornerstone-group.com 2IÂ¿FH 1XPEHU *OREDO :HEVLWH ZZZ FRUQHUVWRQH JURXS FRP

How do you define an AWA Woman?

You don’t. We come from more than 30 different countries. We’re artists, athletes, moms, lawyers, soldiers, bookworms, entrepreneurs, adventurers, doctors, dragon boaters, foodies, hikers, students, scuba divers, bankers, young and not as young. It’s hard to describe an average AWA woman because we’re anything but average. We are glad to reach out a helping hand, either to the local charities we support or to each other when the need arises. Whether you want to save the world or just make some new friends, there’s a place for you in AWA.

We can’t wait to meet you!

Join Today

http://awa.org.hk

CHARITABLE FOUNDATION

Dr. Thomas Chan, a pediatric neurosurgeon and winner of AmCham’s 2016 Ira Dan Kaye Community Service Award, with Peter Levesque, Chairman of AmCham’s Charitable Foundation

No Child Left Behind A doctor of tremendous ethical and professional competence and an individual of high standards and integrity, Dr. Thomas Chan is named winner of AmCham’s 2016 Ira Dan Kaye Community Service Award for his years of dedication to the alleviation of poverty, particularly among children, through World Vision here in Hong Kong and in China

By Edoardo Del Vecchio

or 30 years, AmCham’s Charitable Foundation has recognized individuals who have performed outstanding public service for the greater good of the community. In 2016, the Ira Dan Kaye Community Service Award went to Dr. Thomas Chan, a pediatric neurosurgeon and founding fellow of the College of Surgeons, for his 14 years of dedication as head of World Vision Hong Kong and World Vision China. Chan has a reputation “as a doctor of tremendous ethical and professional competence” and is well known among his peers as someone of “high standards, integrity and genuine professionalism.” More importantly, he has a compassionate heart and cares deeply about his patients and their families. In 1996, he gave up his medical practice and dedicated himself to the

biz.hk 12 • 2016

alleviation of poverty through World Vision here in Hong Kong and in China. “I remember the long line at the railroad station [from Hong Kong on our way to China], and everyone was bringing gifts for their families,” Chan recalls of his family trips back to the Mainland to visit members of his extended family. “Every year, we returned to Guangdong with as much stuff as we could possibly bring.” The memory depicting a crowded railroad station is a reminder of the moment Chan first started to gather a strong sense of giving back to the community. “It struck me how my parents’ fortunate decision to come to Hong Kong has made such a big difference on my life. Because I was fortunate to have an opportunity to study and grow as a person, I feel I should help those in need, especially the children.”

A doctor & a humanitarian Describing himself as “a typical Hong Kong guy who grew up in the baby boomer generation,” Chan comes from an ordinary family and has always strived for excellence in his studies as a teenager, with a dream of going to medical school and becoming a neurosurgeon. Along the journey, he developed his value system through important life experiences and became a devoted Christian. “In a city like Hong Kong, we grow up in a society where making money, having fame and creating a fortune are considered successes in life,” he says. “But I learned to see things a little differently in medical school when I also became a Christian. It is no longer about making money but about giving. And it makes you happy, often happier than any other materialistic reward.” That’s because as a doctor Chan has seen hundreds, if not thousands, of cases of life and death, and he understands how life can really be short. “One moment we may be in the prime years of our lives, and then we may experience some unexpected circumstances like a stroke and die. And a healthy and happy life is certainly not something you can always buy.” The desire to help is the reason Chan became heavily involved with World Vision – an international organization that envisions all children having equal opportunities and a chance to develop the life they deserve. The organization strives to achieve sustainable development through poverty alleviation, healthy nutrition, clean water, proper education, healthcare and immunization. “Children deserve to have hope as they grow up, and we need to provide children with hope,” Chan emphasizes. “They need a future that holds a promise. If you see a kid who has no response, it means that he has no hope, and that is bad. We must not let them believe that there is no hope.”

The mission of helping others “What I love the most about World Vision is that it really is a caring and empathizing organization. It represents all the values of being a Christian,” Chan says, noting that much of the success is due to the people involved and their earnest work. Over 800 people in the World Vision China family serve daily without reservation for the improvement of children’s lives all over China. They participate

biz.hk 12 • 2016

and experiment with new ideas, and it is not uncommon to meet those who have been part of the organization for 20, 30 or even 40 years. “Many of the employees who work here are overqualified for the salaries they receive, yet they sacrifice because of their Christian ethos,” he adds. Many involved in the mission of World Vision give up high salaries and prestigious careers to go into inland mountainous areas, where conditions are poor and life is hard, to truly live out what they believe in. Their goal is to implement a long-lasting change by changing the mindset towards poverty and enabling the poor to self-develop by giving them the skills to do so. “We try to create a mindset in alleviating poverty through leading by example, giving them training, advice and other resources,” Chan points out. “Our project focuses on development rather than merely

biz.hk 12 • 2016

giving cash or food when there is a natural disaster.” The idea is to promote the development of a sustainable economic and social fabric and to create an impact across counties and provinces. “More importantly, if you want to alleviate poverty, you’ll have to start with children, providing them with education and life skills,” he adds. “That’s because if you do that enough and work on that for 20 years, you’ll create a generation of people capable of helping themselves and their families out of poverty.”

The field work In the first five years of World Vision China, Chan initiated a lot of projects in a country where his organization had virtually no presence. From a team of 20-plus people, it has grown to have more than 800 employees in two decades while donations have increased 20-fold. “When I first joined in the 1990s, operations in China were close to zero,” he recalls. “It was also a time when much of the population in China lived in rural areas, and children there didn’t have access to opportunities.” And it wasn’t easy to obtain government sponsorship and earn the trust that World Vision needed to help the poor, in addition to the fact it is “not a missionary organization,” Chan points out. “Still, we don’t hide our core values or the fact that we are Christians. That’s just the way we live, act and serve.” Once participants of World Vision China got to start their work on the field, they discovered with pleasure that they were sincerely welcomed wherever they went. Today, with donations in billions of US dollars each year in the form of child sponsorship around the world, fundraising based on long-term, sincere relationships with donors is a large part of World Vision’s mission. “We maintain a very robust communication system and notify donors continuously on the status of their sponsored children. We examine the child four times a year and write an annual report. It is very labor-intensive and is not always easy.” “It’s always in the field where you find the most satisfaction,” Chan says. “You get to watch the lives of the people you help improve year by year, and you get to build a relationship with them and return year after year. Astoundingly, some of the kids who have benefited have returned to work for World Vision. “It is something that makes you really happy and gives you hope.” It is never easy to eradicate poverty and it is always one step at a time. However, whenever a child is lifted out of poverty, it is one less child suffering, he believes. After stepping down from his position as head of World Vision in Hong Kong and in China, he left the organization in very experienced hands. “The current CEO is a great friend and a devoted Christian whom I deem better suited than me to run the organization,” he says.

AMERICAN TOPICS

In Celebration of Thanksgiving AmCham has kicked off the holiday season with a recent luncheon in honor of the American tradition of Thanksgiving right here in Hong Kong. It was a celebration of one of the biggest US holidays and an appreciation of all the support AmCham has received from various governmental departments in strengthening Hong Kongâ&#x20AC;&#x2122;s competitiveness as an international center of finance and commerce. In addition to a speech by US Deputy Consul General Thomas Hodges, AmCham Charitable Foundation also presented the Ira Dan Kaye Community Service Award to Dr. Thomas Chan of World Vision Hong Kong and the Outstanding Service Award to Jon Zinke who served as AmCham chairman in 2005.

Title Sponsor:

Thomas Hodges, Deputy Consul General, US Consulate General, Hong Kong and Macau, speaking at the 2016 Thanksgiving Luncheon

Wine Sponsor:

Premium Sponsor:

Corporate Table Sponsors:

biz.hk 12 â&#x20AC;˘ 2016

Dr. Thomas Chan, left, winner of AmCham's 2016 Ira Dan Kaye Community Service Award, with Peter Levesque, AmCham Charitable Foundation Chairman

Jon Zinke (second from right), AmCham 2005 Chairman and winner of AmCham 2016 Outstanding Service Award, with Peter Levesque (left), Walter Dias (second from left), and Richard Vuylsteke (right)

Plymouth Sponsors:

Pilgrim Sponsors:

Lucky Draw Prize Sponsors:

biz.hk 12 â&#x20AC;˘ 2016

biz.hk 12 â&#x20AC;¢ 2016

Guide to

Executive Search / HR Professionals

Guide to

Executive Search /HR Professionals

AGS Group (AGS)

www.agsgroup.com.hk

10/F, Central Building, 1 Pedder Street, Central, Hong Kong Email: info@agsgroup.com.hk Tel: (852) 3478 7280 Fax: (852) 3011 6352 Contact person: Miss Ada Cheung, Managing Partner

Company Profile

Miss Ada Cheung, Managing Partner

AGS Group (AGS) is a privately owned executive search firm and we have the pleasure of working with a number of Fortune 500 companies in Asia Pacific and United States in helping them identify and recruit key talent in Hong Kong and around the region. While we are majorly specialized in recruitment for property and construction, banking & finance, hospitality and retail sectors, our talent search also covers a wide range of functions: • Real Estate & Facilities Management • Public Relation & Communications • Finance & Accounting • Professional & Corporate Support • IT & New Technology • Human Resources • Board & Strategic Advisory • Legal Support

Ada started her career as a Management Trainee in Banking and advanced as Senior Advisor before she joined the Dun & Bradstreet – an US listed Credit Rating Company. Her last position was the Principle Consultant there. She started her recruitment career since 2007 and finally settled in with AGS as one of the founding member. With more than 20 years’ working experience in commercial, Ada has a strong proven track record in technical hiring and executive search. She has built trust and strong partnership with the property developers, luxury hospitality operators, global retail groups and semi-government organizations in Asia Pacific, by helping them identify and recruit key talent in local and regional level.

We focuses to build "depth" with clients, working with them in more locations and more levels in their organizations, anchored on a give-and-take approach and unrelenting commitment to put clients' interest ahead of ours. We have proved to be efficient since we know the market better: Our number of days to complete assignments, is much shorter than that of other international search firms. We committed to developing the best local resources with world-class standards. Our consultants are all composed of local talent with strong local networks and intensive knowledge of the local market. We are empowered by a well-integrated Asia-wide network that enables us to pool resources with greater speed and responsiveness, reduce cost of hire for clients, provide value-added services and work as a team seamlessly across borders – over 20% of our searches are Pan-Asia searches.

CAREER OPPORTUNITIES AS LIMITLESS AS THE LIVES YOU’LL TOUCH

12 • 2016

Association of Executive Search & Leadership Consultants (AESC) www.aesc.org 425 Fifth Avenue, 4th Floor, New York, NY 10016 Email: prooney@aesc.org Tel: +1 212 398 9556

Contact Person: Patrick Rooney, AESC Managing Director, APAC

Company Profile AESC is the voice of excellence for the executive search and leadership consulting profession worldwide. Our rigorous Code of Professional Practice and Standards of Excellence guide our members in 1,263 offices in 72 countries and beyond to serve as strategic advisors on behalf of their clients. In turn, AESC members are best positioned to provide companies with a competitive advantage—the ability to find, attract and develop the best talent in the world and ensure that executives are successfully integrated. AESC recognizes that diversity is a business imperative. As trusted advisors to those companies that drive economies, lead innovation, and compete across vital sectors and geographies, we know first-hand the power of diverse corporate leadership. By virtue of selecting an AESC member, clients can be secure in their choice of consulting firm, and can reap the benefits that only a trusted advisor can deliver. To learn more about AESC and to view a list of AESC members, visit www.aesc.org. To learn more about AESC’s career service for executive-level candidates, visit www.bluesteps.com.

Executives’ Global Network (HK) Limited

www.hk.egn.com

Level 17, China Building, 29 Queen's Road Central, Central, Hong Kong Email: jwo@egn.com Tel: (852) 3978 2636 Contact Person: John Wong

EGN Hong Kong creates relationships and share knowledge We are an independent, professional network of business executives. EGN Hong Kong is part of the international network, Executives’ Global Network (EGN) with members in 13 countries. EGN is thus the only network to offer knowledge sharing across disciplines, industries, management levels and national borders.

12 • 2016

“We build business relationships and share knowledge”

Guide to

Executive Search /HR Professionals

Brentwood International Consultants Ltd.

www.brentwood-co.com

904, 43-45 Queen's Road East, Admiralty, Hong Kong Email: info@brentwood-co.com Tel: (852) 2111 2600 Brentwood offers a comprehensive package including Executive Search Service and Board Advisory.

Executive Search Service

We specialize in placing Senior Executive positions in Retail, Finance, Property and Manufacturing industries for both local Chinese firms and multi-national companies since 1995. Our assignments normally command an annual remuneration package of US$90,000 (HK$700,000) to US$380,000 (HK$3,000,000). Our assignments are not limited to China, but also span across wider regions including Asia Pacific.

Board Advisory Consultancy

Our management consultancy arm provides comprehensive merger & acquisition services to represent clients who wish to acquire, divest or combine a business segment. Our role includes locating prospective businesses, analysing the businesses and driving negotiations to a successful conclusion.

Global Network

We are the China and Hong Kong representative of a global network with offices in over 30 countries in Europe (Western, Central and Eastern Europe), Asia (China, Malaysia, and Singapore), Australia, South Africa and America (Argentina, Chile, Mexico and USA). We focus on senior management positions, different from a Human Resources Agency. We do not post advertisements as the Human Resources agencies typically do.

Candidates

The industry is small, most of the senior executives and business owners know each other well. Therefore, confidentiality is significant and agency advertising is unlikely to attract these "high-caliber candidates" We target high performers who are: 1) Senior management level with stable employment history, 2) Well-known with good reputation and achievements in the market, 3) Constantly traveling within China and overseas and are too busy to do job-searching and submit resumes. When these senior executives look for a new job, they prefer being represented by executive search firms and conduct their job search in a high confidential manner before they resign. We have known these high caliber candidates personally for many years. Therefore, our successful rate is very high.

Clients

When there is a new job opening, client is least likely to approach its competitors’ employees. We are experienced in searching the “former” employees of their competitors. Hence, our client will not offend their friendly competitors. We identify and approach the right candidate on behalf of our client using our company name "Brentwood" instead of theirs, to avoid sensitive details, rumors and noise being circulated within the industry. Hence, confidentiality is maintained. If our client approaches the same candidate six months later, candidates will not feel offended.

12 • 2016

ConnectedGroup Limited

www.connectedgroup.com

603, Level 6, Infinitus Plaza, 199 Des Voeux Road Central, Sheung Wan, Hong Kong Email: Mat@connectedgroup.com Tel: (852) 3972 5888 Group Managing Director: Mathew Gollop

Company Profile Established in 1997, ConnectedGroup has developed from a traditional recruitment business, into a client-centric executive recruitment and search consultancy offering a broader range of services and capabilities. Headquartered in Hong Kong, we are well placed to service the Asia region. Our teams focus on deep specialisation in core industry and functional sectors, offering clients and candidates the same level of expert advice and assistance. Core Industry Specialisations • Consumer, Retail & F&B • Manufacturing, Sourcing and Supply Chain • Financial Services • Technology • Industrial/B2B

Core Functional Specialisations • Finance and Accounting • Strategy and Transformation • Legal • Human Resources • Professional Support

Outside our core specialisations, we also work with clients and candidates across a range of other industries and functions.

12 • 2016

Guide to

Executive Search /HR Professionals

Cornerstone International Group

www.cornerstone-group.com

Room 1001, 10/F, Global Gateway Tower, 63 Wing Hong Street, Lai Chi Kok, Kowloon Tel: (852) 2153 3836

Company Profile CORNERSTONE - Your First Choice In Finding GAME CHANGERS & HARD TO FIND EXECUTIVES For Your Business: • Our 20+ years’ experience in China • Our Executive Search Process • Our Reach of 7 offices in China & 19 in Asia • Executive Coaching background

OUR AREAS OF EXPERTISE:

WHAT SETS CORNERSTONE APART?

Consumer: Brand Management, Category Management, Creative, Durables, Food and Beverage, Licensing, Packaged Goods, Sales and Marketing & Supply Chain.

Our role as a Premier Retained Executive Search Firm is to recruit people who can create a decided competitive advantage for our clients. We call these executives the GAME CHANGERS. We have demonstrated success in recruiting exceptional individuals at levels of CEOs, C Level functional executives, group and unit General Managers, vice-presidents and directors across all functions - serving a broad client base of small to medium sized, and Fortune 500 U.S. and international companies.

OUR MISSION Our mission is to win trusted relationships with our clients for life built on their satisfaction and loyalty. We aim to help our clients to strategically invest in and develop their executive human capital, improve their organizations and achieve superior performance. We work as the CEO’s strategic thinker, able to help solve complex organization and business issues. Nearly all of our Senior Consultants are certified Executive or Career Advisory coaches, together with long years of business background, we understand the pain points of our clients. The success of Cornerstone is built on our insights into the people dynamics of corporations and their leadership requirements. Executive Search is our core business. About 1/3 of our clients also ask Cornerstone to provide coaching support to the Leadership Team as well career advisory support for managers that are facing career transitions.

Chief of Finance & Human Resource Officers Chief Financial Officers, Chief Human Resources Officers, Career Development and Succession Planning, Compensation and Benefits. Subject Matter Experts, Risk Management & Talent Management

Environmental Services: Environmental Engineering, Green Technologies, Hazardous Waste, Laboratory Services, Solar & Renewable Energy. Healthcare and Life Sciences: Pharma, Biotech and Clinical Services; Medical Technology, Commercial and Research leaders, Hospital & Health Systems, Physician Groups, Regulatory Affairs, Software and Systems. Industrial and Supply Chain: Aerospace & Defense, Automotive, Consumer Packaged Goods, Distribution, Energy, Engineered Products, Manufacturing, Materials Management & Process / Automation Management. Technology: Emerging Micro Processing Technologies, Gaming and Interactive Media, IT services, Software, Telecommunications, Web and Artificial Intelligence More about our award winning executive search & executive coaching service at www.cornerstone-group.com

Contact persons

Nancy Chu Managing Partner nancy-chu@cornerstone-group.com (852) 2153 3287

Sonia Vaswani Managing Director sonia-vaswani@cornerstone-group.com (852) 2153 3286

Simon Wan Chief Executive simon-wan@cornerstone-group.com (852) 2153 3198

12 • 2016

DHR International Asia Ltd.

www.dhrinternational.com

36th Floor, Two Exchange Square, Central, Hong Kong Tel: (852) 2622 8888

Company Profile For more than 25 years DHR International has been a leading, privately held provider of executive search solutions with more than 50 wholly-owned offices spanning the globe. DHR’s renowned consultants specialize in all industries and functions in order to provide unparalleled senior-level executive search, management assessment, and succession planning services tailored to the unique qualities and specifications of our select client base.

With corporate headquarters in Chicago, Illinois, USA and regional headquarters in Hong Kong, we have expanded to ten offices across Asia Pacific and the Middle East since establishing our first branch in the region in 2004. In Asia Pacific, we are adamant about taking a proactive approach to new search opportunities and bringing to the market a faster, more flexible, and collaborative search engagement model by: • Building industry and sector expertise in our six major practice groups within our consulting ranks: o Advanced Technology & Business and Professional Services; o Consumer & Retail; o Financial Services; o Healthcare & Life Sciences; o Industrial; and o Private Equity & Venture Capital. • Charging each consultant with developing candidate pools in specific sub-segments in order to ensure greater response and speedier candidate identification and execution; • Investing in market intelligence and industry insights to stay ahead of sector trends instead of following them; and • Transforming the search industry to emulate many of the knowledge-based competencies of management consulting firms.

Contact persons

Christine Greybe President (852) 2622 8888

12 • 2016

May Tung Managing Partner Asia Pacific Financial Services Practice (852) 2622 8888

Caroline Edwards Partner (852) 2622 8888

Kelvin Ling Partner (852) 2622 8888

Guide to

Executive Search /HR Professionals

FocusCore Recruitment & Executive Search

www.hongkong.focuscoregroup.com

9/f, Somptueux Central, 52 Wellington Street, Central, Hong Kong Managing Director: Damian Rhodes Email: damian.rhodes@focuscoregroup.com Office: (852) 3752 0559 Cell: (852) 9500 1682 twitter.com/DamianFocusCore

WeChat: FocusCoreHongKong

Company Profile FocusCore Recruit in Hong Kong helps you focus on your core business by providing accelerated recruitment solutions. Our specialist recruiters have professional experience within Europe and the United States as well as Hong Kong and across Asia. In addition to English, Cantonese and Mandarin, we have Burmese, French, German, Japanese and Tagalog speakers. An innovative recruitment methodology identifies professionals within Accounting & Finance, Human Resources, Real Estate, Sales & Marketing and Supply Chain functions. Our clients include Fintech, FMCG, Legal, Media, NGO, Property, Retail, Trading and Wholesale organisations. Our research backed retained executive search function is used for senior executive roles and have enabled clients to hire C suite level individuals in record time. FocusCore Recruit has over seventy recruiters and has a presence within mainland China, Hong Kong, Japan, Myanmar and Singapore.

“FocusCore identified a General Manager for our Hong Kong office and I was able to have an offer accepted within just three weeks from my first conversation with their Managing Director, Damian Rhodes. Their accelerated executive search process cut through the usual delays and I was able to hire in record time.” - Luke Duffy, CEO, Containerchain

12 • 2016

Hays

hays.com.hk

6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong Email: hongkong@hays.com.hk Tel: (852) 2521 8884

About Hays At Hays, we are the experts in recruiting qualified, professional and skilled people across a wide range of specialised industries and professions. We operate across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. Operating from 252 offices in 33 countries across 20 specialisms, Hays plc is a leading global professional recruiting group.

About Hays Hong Kong Hays is Hong Kong's market leader in recruiting permanent positions, contract roles and temporary assignments. Operating in Hong Kong since 2006 across a spectrum of 10 areas of expertise from Banking & Financial Services to Information Technology, our breadth and depth of expertise has enabled us to power the world of work for ten years. Accredited with the International Quality Standard ISO 9001:2008 since 2014, we continue to match the right people with the right jobs, transforming lives and businesses. Our commitment to excellence has help us clinch the CFO Innovation Awards for Best in Finance and Accounting Recruitment for five consecutive years since 2012. We are committed to delivering the best service to our clients by finding them the best talent in the market. Our innovative candidate sourcing techniques include system integrations with Google and LinkedIn across our database of screened and assessed candidates, enabling far reaching and accurate search results. It's the combination of our innovative technologies, global reach and scale, local market knowledge and breadth and depth of expertise that make Hays the perfect partner for your recruitment needs.

12 â&#x20AC;˘ 2016

Guide to

Executive Search /HR Professionals

RPO Global Limited

www.rpoglobal.com

9A, Tern Centre II, 251 Queen's Road Central, Hong Kong Email: info@rpoglobal.com Tel: (852) 3707 1277

Senior Partner: Antoine Fasse

Email: a.fasse@rpoglobal.com

Company Profile With more than 20 years of experience in Asia, RPO Global helps our Clients hire and manage the manpower needed to meet the objectives of the organisation. By training, advising, and recruiting teams for companies around the Globe, RPO Global continues to expand our expertise in order to help clients manage their human capital assets. Whether you are seeking HR Consulting, Recruitment, or Training and Development Services- RPO Global will provide what is needed, when it is needed. Our solutions cover all of your Human Resource Management needs, including: • Recruitment & On-boarding • Training & Development • HR Analytics • Performance Management • Diversity & Inclusion

• Campus Hiring • HR Audit • Outplacement Services • Employer Branding • Contract Staffing Solutions

With more than 20 years of working experience within The Human Capital industry, RPO Global is the only comprehensive provider of HR-specific services to companies across Asia and Europe. Through RPO Global’s ongoing commitment to development of the HR discipline, we have built an extensive network of professionals in the HR, Training & Development, and Recruitment industries. With our database and resources; RPO Global provides clients with not only the best talent, but also best in class training and consulting solutions to support HR initiatives. Whether your company requires Training, Consulting or Recruitment, RPO Global will provide what is needed, when it is needed.

12 • 2016

Tricor Executive Resources Limited

www.tricorglobal.com

Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong Email: exec-search@hk.tricorglobal.com Tel: (852) 2980 1166

Fax: (852) 2869 4410

Company Profile

Human Resource Solutions

• Specialists in Executive Search & Human Resource Solutions • Recruiting best talent and advising on HR best practices • Trusted by clients from large, medium and small organizations • Recognized for our professionalism, integrity, creativity and perseverance • Outstanding track record for over 28 years

We also provide advice on Human Resource (HR) best practices to enhance your human capital. Our range of customized HR Solutions can help drive your business performance through the effective use of talent. • Compensation & Benefits Planning and Benchmarking • Soft Skills & Management Development Training • Performance Management Systems • Talent Assessment Centre • Human Resource Strategy and Outsourcing • Transition Talent Management / Career Coaching

Executive Search

Tricor Executive Resources has built an unrivalled reputation for integrity and professionalism in the executive search business. Our team of specialist consultants and researchers provide a range of practical and innovative solutions to help you search for the right talent to meet your business needs. We utilize in-depth research, intense sourcing and a highly focused approach in the identification of qualified candidates in the appropriate industry sector. Our clients consists of multinationals, publicly-listed and private companies as well as family-owned and start-up companies.

Our Industry Focus: • Consumer Products (FMCG) • Retail and Distribution • Property Development, Investment and Management • Manufacturing and Trading • Hospitality and F&B • Banking, Financial Services and Insurance • Telecommunications and E-commerce • Communications and Public Relations • Healthcare and Pharmaceutical • Professional Services and NGOs

Fiona Yung Executive Director Tricor Executive Resources Limited fiona.yung@hk.tricorglobal.com

Tricor Executive Resources as an exhibitor at the HKIHRM Conference

Training for a corporate client

12 • 2016

Guide to

Executive Search /HR Professionals

Wellesley

www.wellesleys.com

2408 Nine Queens Road Central, Hong Kong Email: info@wellesleys.com Tel: (852) 2521 0883

Company Profile Wellesley is a regional Partnership with a long track record of collaboration with both large world-class global organizations and fast-growing emerging regional firms. Trusted advisors regarding compensation trends, organization structure & design, and market intelligence managed within a bespoke business model. Established Hong Kong headquarters in 2005. Industry Coverage

Functional Coverage

Financial Services

All Major Functions

Consumer, Retail & Healthcare

All Major Functions

Technology, Media & Comms

All Major Functions

Wellesley Contacts

Function and Sector Coverage

Rick Johannessen Partner, Financial Services

• Alternative Investment – Front-office positions across Hedge Funds, Private Equity & Real Estate investment firms • Corporate Development, Fund Marketing, Public/Private Equity & Credit Investing,

Loretta Chan Partner, Financial Services

• Global Markets – Front-office positions across all levels for : Fixed-Income, Interest Rates, Currencies & Commodities • Research, Sales & Trading

Jeremy Harris Partner, Financial Services

• Asset Management – Front-office positions for Long-Only Asset Managers • Portfolio Management, Research, Institutional Sales, Economists & Strategists

Keir Macintosh Partner, Financial Services

• Infrastructure Practice – Middle and Back-office positions across all levels and functions • COO and Operations, Finance, General Counsel, Risk & Compliance

Christian Brun Partner, Financial Services

• Investment Banking – Front-office Investment Banking positions across all levels, sectors and geographies • Corporate Development, Corporate Finance, Mergers & Acquisitions and Private Equity

Nicole Lui Partner, Technology and Consumer

• All major functional areas across Corporate Development, Sales & Marketing, Technology and Operational roles.

Angus Washington Partner, Media, Communications and Commerce & Industry

• All major functional areas across Corporate Development, Sales & Marketing and Operational roles.

Sourabh Chattopadhyay Partner, SE/South Asia & Professional Services

• Generalist Financial Services and Professional Services Coverage across SE and South Asia • Corporate Development, Corporate Finance, Fundamental Investing, Private Equity, C-level roles in Portfolio Companies

Wellesley Asia | Hong Kong | Mumbai | Singapore | Wellesleys.com 66

12 • 2016

THE AMERICAN CHAMBER OF COMMERCE IN HONG KONG

FAST FACTS COMMUNITY AmCham celebrates over 45 years of promoting business and fostering greater trade ties and community service in Hong Kong

ACTIVITIES Members can access more than 400 programs, seminars, and conferences each year featuring top business and government leaders, industry experts and professional facilitators who address timely and relevant business issues. MEMBERS Over 1,700 members (40 different nationalities) from over 800 organizations, including multinational firms, small and medium enterprises, entrepreneurs, and non-profit organizations. COMMITTEES Our members can join and access up to 28 different committees covering industry sectors, professional service sectors, and special segments of the membership.

The American Chamber of Commerce in Hong Kong 1904 Bank of America Tower 12 Harcourt Road, Central, Hong Kong T: (852) 2530 6900 E: amcham@amcham.org.hk www.amcham.org.hk

BUSINESS NETWORKING

INFORMATION

VISIBILITY AND CORPORATE EXPOSURE

ADVOCACY

ACCESS

HONG KONG biz.hk 2016 INDEX OF ARTICLES

ISSUE

PAGE

ADVOCACY/GOV'T

Cover Story

SECTION

Engagement and Implementation

Jan/Feb

RELATIONS

Advocacy

An Engine of Trade beyond Asia

April

Advocacy

The Drive for a Diverse Workforce

May

Cover Story

Washington Doorknock: Connectivity with Substance

Jul/Aug

Cover Story

Beijing Doorknock: Prospects of Greater Business Engagement

November

New Member Spotlight

Linda Wang, Head of Sales & Business Development, delivery.com

March

New Member Spotlight

Dawn Soo, Chief Wellness Officer & Head of HK Office, CXA Group

April

New Member Spotlight

Toby Mountjoy, Associate Director, Autism Partnership Hong Kong

May

AMERICAN/CHAMBER

AmCham Ball (Pull-out)

AmCham Ball 2016: New York Empire State of Mind

May

TOPICS

Charitable Foundation

In Celebration of Contributing to Hong Kong's Local Charities

June

Charitable Foundation

In Recognition of Young Talent

Jul/Aug

Charitable Foundation

In Honor of Noble Minds

October

American Topics

US Presidential Election of 2016

November

Chamber Topics

AmCham President Bids Farewell

December

Charitable Foundation

No Child Left Behind

December

American Topics

In Celebration of Thanksgiving

December

Editorial

April 15: A Stark Reminder of a Regressive Income Tax Policy

March

Editorial

Electronic Road Pricing Embarks a Journey of "Smart City" Development

April

Editorial

Full Speed Ahead

May

Editorial

Optimization of Back-Up Land: Revival of Maritime Logistics

June

Editorial

Is TPP Good for America? The Numbers Say It All

Jul/Aug

Editorial

Development of a Trade Single Window: A Big Step Forward

September

Editorial

Can't Open a Bank Account? Welcome to a New Era of Red Tape

October

Editorial

Standardization in the Age of Global Tax Transparency

November

Editorial

HKSAR 20th Anniversary - Redefining Hong Kong's Economic Role

December

BUSINESS CONSULTANCY

Industry Focus

Inside Hong Kong's Commercial Center

October

CHINA MARKETS

Cover Story

The Paradox of China: Sluggish Growth & Economic Proliferation

March

China Business

Closer Economic Partnership in PRD

March

China Business

The Structure of Business Reporting Line among MNCs in China

April

Cover Story

Through the Complexities of OBOR

June

Financial Services

The Imminent Launch of Shenzhen-HK Stock Connect

September

China Conference

Managing the Transition: Foreign Business in the New China

October

China Conference

The Great Unknown of China

October

AMCHAM MEMBERSHIP

BIZ.HK OPINION

ARTICLE

March 2016

Se rv ic es tio n

A M dv C a ert

20 ommrketin ising 16 unicg & , a

WALTER DIAS

THE PARADOX OF CHINA INDUSTRY FOCUS: HEALTHCARE PROVIDERS

April 2016 • VOLUME 48 NUMBER 4

DIRECTOR EMERITUS OF MCKINSEY March 2016 • VOLUME 48 NUMBER 3

MARKETING, ADVERTISING & COMMUNICATION SERVICES

NORMALIZATION OF US FED POLICY

GORDON ORR

2016 AMCHAM CHAIRMAN

SPECIAL SUPPLEMENT:

April 2016

www.amcham.org.hk

ENGAGEMENT & IMPLEMENTATION

JOURNAL OF THE AMERICAN CHAMBER OF COMMERCE IN HONG KONG

Jan/Feb 2016

HE AL TH CA RE PR OV IDE RS

CATEGORY

JANET YELLEN

US FEDERAL RESERVE CHAIR

STANLEY FISCHER

US FEDERAL RESERVE VICE CHAIRMAN COVER SPONSOR

INDUSTRY FOCUS:

BANKING & FINANCIAL INSTITUIONS

biz.hk 12 • 2016

CATEGORY

ISSUE

PAGE

China Conference

SECTION

The New Path of China

October

China Conference

Collaboration & Competition in the new China

October

China Conference

China's Reforms & Hong Kong's Role

October

China Conference

Chinese Megacities & Regionalization

October

China Conference

The Chinese Economy Drags On

October

COMMUNICATIONS &

Public Relations

Relevance, Reinvention and Reputation

Jan/Feb

MARKETING

Social Media

Managing Online Reputation

Jan/Feb

Supplement

Guide to Communication Services

Jan/Feb

Communications & Marketing

Simple Stories Compellingly Told

May

Communications & Marketing

Essential Steps Towards Social Media Success

Jul/Aug

CORPORATE

Corporate Social Responsibility

Glitz, Glamor and Sustainability

April

RESPONSIBILITY

Trade & Investment

Hinrich Foundation Launches Sustainable Trade Index

June

Cover Story

Inclusive Growth in a Transforming Economy

December

Education

The Case for Quality Education

April

Education

In Pursuit of Talent Development

May

Education

Preparing for a Paradigm Shift

Jul/Aug

Education

US Institutions Approved for Admission of Mainland Students

Jul/Aug

Education

The Chicago Approach

September

ENERGY

Sustainability

Green Technology for Sustainable Growth

October

FINANCE

Finance & Economics

Is China's Circuit Breaker to Blame?

Jan/Feb

Finance & Economics

In Defense of Hong Kong's Currency

March

Fiscal Policy

Expenditures amid a Pessimistic Outlook

March

Fiscal Policy

2016/17 Hong Kong Budget: Business as Usual

March

Cover Story

Normalization of US Fed Policy: Liftoff of Interest Rates

April

Finance & Economics

The Hong Kong Stock Market: A Year in Review

April

Industry Focus

The Development of International Banking & Financial Institutions

April

Business Outlook

2015/2016 Annual Business Survey: Market Volatility and Challenges

Jan/Feb

Trade & Investment

20 Years of WTO, What's Next?

Jan/Feb

Cover Story

Brexit: Can China Keep Calm and Carry On?

Septemeber

Apparel & Footwear

2016 and Beyond: Challenges in the Global Supply Chain

November

Industry Focus

A Survey of Pharmaceutical Companies & Healthcare Providers

March

CHINA MARKETS

EDUCATION

GLOBAL ECONOMY

HEALTHY LIVING

ARTICLE

CCWM Jan 2014 210x285.pdf 1 12/11/2013 11:02:48 AM

May 2016

June 2016

Guide to

International Schools 2016

Think. Learn. Network. Asia.

In a volatile and uncertain environment, companies and leaders need to invest for a sharper vision, greater sensitivity, more diverse networks, and an expanded horizon. The Ivey Consortium Programs is a value-creating platform to connect leading companies, provide rich cross-learning opportunities among executives, and discover actionable business solutions through Ivey’s renowned learning-by-doing methodology.

Ivey Consortium Executive (ICE) Program s Leadership & Management of Change 3-day module (September 26 - 28, 2016)

s Strategic Marketing Planning 3-day module (October 17 - 19, 2016)

s Optimizing Financial Performance to Achieve Business Success

Buck the cyclical trend – invest in and add value to yourself with Ivey

Ivey Consortium Programs

Accelerating Management Talent (AMT) Program s Leading High Performing Teams 2-day module (September 29 - 30, 2016)

s Competitive Advantage Through Marketing 2-day module (October 20 - 21, 2016)

s Managing Financial Resources for Business Decisions 2-day module (November 17 - 18, 2016)

3-day module (November 14 - 16, 2016)

THROUGH THE COMPLEXITIES OF OBOR

s Strategic Analysis & Action

FINANCIAL TECHNOLOGY BEYOND SHEER DATA SANJEEV CHATRATH

MANAGING DIRECTOR (ASIA) FINANCIAL & RISK THOMSON REUTERS

INDUSTRY FOCUS:

INTERNATIONAL SECONDARY SCHOOLS

s Strategic Planning & Execution 2-day module (December 15 - 16, 2016)

3-day module (December 12 - 14, 2016)

Fee: USD 10,800 per participant (4 modules) INDUSTRY FOCUS:

s Innovation & Revitalization Through People 2-day module (January 12 - 13, 2017)

s Leading Change 2-day module (February 9 - 10, 2017) Fee:+USD 7,200 per participant (4 modules) USD 9,000 per participant (5 modules) USD 10,800 per participant (6 modules)

REAL ESTATE, Discount applicable for early bird registrations before July 15, 2016 OR ≥3 registrations from the same company. INFRASTRUCTURE Participants will be conferred the consortium program certificate by Ivey Business School upon completing at least 4 modules of the same program. & CONSTRUCTION In case of deferrals, participants are expected to complete all selected modules within two years. Dates subject to final confirmation.

COVER SPONSOR SPECIAL For more information, call us at +852-2135-2242 or email executives@ivey.com.hk SUPPLEMENT: Ivey Business School at Western University

Cheng Yu Tung Management Institute RESIDENTIAL RENTALS Hong Kong Convention and Exhibition Centre, Phase 1

Room S422, Level 4, 1 Harbour Rd., Wanchai, Hong Kong Phone: +852-2808-4488 | Fax: +852-2808-4433 | www.ivey.com.hk Every effort has been made to ensure the accuracy of the information provided. However, the information is subject to change without prior notice.

Ivey AmCham AD (20160601).indd 1

biz.hk 12 • 2016

6/2/2016 9:51:27 AM

HONG KONG biz.hk 2016 INDEX OF ARTICLES

CATEGORY

ISSUE

PAGE

Consumer Rights

SECTION

Marketing Ban on Milk Formula in a Free Market Economy

March

Pharmaceutical

In Search of a Sustainable Pipeline

March

Biotechnology

The Labeling of Genetically Engineered Food

March

Personal Health

Taking Care of Your Heart

March

Supplement

Guide to Healthcare Professionals

March

Human Resources

The Innovation Imperative: Igniting Advantage Through People & Culture

Jan/Feb

Human Resources

Keynote Addresses: Innovation Comes from Everyone

Jan/Feb

Human Resources

Panel Discussion: People Power

Jan/Feb

Human Resources

Breakout Sessions: Culture and People are Key

Jan/Feb

Human Resources

Luncheon Speakers: Times are Changing

Jan/Feb

Business Management

Organizational Agility: Key to Survival in the 21st Century

June

Human Resources

Office Revolution: Rise of the Flexible Workspace

Jul/Aug

Industry Focus

Human Capital Management

December

Supplement

Guide to Executive Search Professionals

December

INTERNATIONAL

Trade & Investment

The Economic Impact of Taiwan's New Leadership

April

COMMERCE

Trade & Investment

Vietnam: Open for Business

April

Trade & Investment

Myanmar: History in the Making

April

Trade & Investment

Myanmar: Opportunities & Challenges for Businesses

April

Trade & Investment

Brunei Darussalam: An Economy on the Rebound

Jul/Aug

Trade & Investment

Malaysia's 2020 Vision

September

Trade & Investment

The Philippines: Call Center Capital of the World

October

Trade & Investment

Thailand: Land of Smiles and Shadows

November

INTERNATIONAL

Industry Focus

A School Orientation for Prospective Students and Parents

May

SCHOOLS

Supplement

Guide to International Schools

May

Education

Shaping Curious, Critical Minds

November

Supplement

Guide to International Schools

November

Supplement

Guide to International Schools (Advanced Education)

November

Real Estate

China's Impact on Hong Kong's Property Market

May

Industry Focus

Real Estate, Infrastructure & Construction: Technology, Sustainability & Innovation

June

Supplement

Guide to Residential Rentals

June

Trade & Investment

On the Move: Airlines, Logistics Providers & Relocation Companies

September

Industry Focus

On the Move: Airlines, Logistics Providers & Relocation Companies

September

Supplement

Guide to Moving to Hong Kong (Relocation)

September

HEALTHY LIVING

HUMAN CAPITAL

PROPERTY

RELOCATION & MOVING

ARTICLE

Private Events AmCham Feb 2016.pdf 1 3/3/2016 11:13:15 AM

Jul/Aug 2016

September 2016

October 2016

REL

OCA

TIO

EDU

CAT

ION ACC

BREXIT:

MOVING TO HONG KONG

DAT

ION

BUILDING ON SUCCESS KURT W TONG

INDUSTRY FOCUS: SPECIAL SUPPLEMENT:

US-HONG KONG RELATIONS:

CAN CHINA KEEP CALM AND CARRY ON? AIRLINES, LOGISTICS & RELOCATION

US CONSUL GENERAL FOR HONG KONG AND MACAU COVER SPONSOR

INDUSTRY FOCUS:

BUSINESS MANAGEMENT CONSULTANTS & SUPPORT ORGANIZATIONS

biz.hk 12 â&#x20AC;¢ 2016

CATEGORY

SECTION

RELOCATION & MOVING

TAX & LEGAL

TECHNOLOGY

ISSUE

PAGE

Supplement

Guide to Moving to Hong Kong (Education)

September

Supplement

Guide to Moving to Hong Kong (Accommodation)

September

Taxation

A Basic Guide to Filing Your US Tax Returns

March

Taxation

A Rude Awakening among Americans Abroad

June

Financial Services

HK as an evolving int'l financial center: The Significance of Regulation

Jul/Aug

Taxation

US Extends Effort to Tackle Offshore Tax Evasion

Jul/Aug

Law

FAQs about FATCA

Jul/Aug

Industry Focus

Int'l Law Firms in Hong Kong

November

Cover Story

Financial Technology beyond Sheer Data

May

Information Technology

The Market for Information Gathering

June

FinTech: From Buzzword to New Reality

October

The Hong Kong-US FinTech Link

October

A Homegrown FinTech Industry

October

Information & Communications Technology Information & Communications Technology Information & Communications Technology

ARTICLE

TOURISM

Industry Focus

The Latest Developments in Hong Kong's Hotel Industry

Jul/Aug

US BUSINESSES

Cover Story

US-HK Relations: Building on Success

October

China Business

For Global Peace and Prosperity

November

Women of Influence

Leading Change: Transforming Ourselves, Our Organizations, Our Society

December

Women of Influence

How Effective Leadership Drives Change

December

Women of Influence

Change is Good

December

Women of Influence

Our Society: Influencing Wider Societal Change

December

Women of Influence

Our Organizations: Leading through Complexity

December

Women of Influence

Ourselves: Increasing Our Self-awareness and Leadership Effectiveness

December

WOI Awards

Winners of AmCham 2016 Women of Influence Awards

December

WOI Awards

Lifetime Achievement

December

WOI Awards

Professional of the Year

December

WOI Awards

Non-profit Leader of the Year

December

WOI Awards

Entrepreneur of the Year

December

WOI Awards

Master of The Arts

December

WOI Awards

Young Achiever of the Year

December

WOI Awards

Champion for the Advancement of Women

December

WOI Awards

Best Company for Women

December

WOMEN OF INFLUENCE

Private Events AmCham Feb 2016.pdf 1 3/3/2016 11:13:15 AM

November 2016

GUIDE TO

INTERNATIONAL EDUCATION

BEIJING DOORKNOCK: PROSPECTS OF GREATER BUSINESS ENGAGEMENT

INDUSTRY FOCUS:

LAW FIRMS IN HONG KONG

SPECIAL SUPPLEMENT: INTERNATIONAL EDUCATION COVER SPONSOR

biz.hk 12 â&#x20AC;¢ 2016

MARK YOUR CALENDAR Jan LGBT Inclusion for Business Success

Steven Chan, Managing Director, Head of Regulatory, Industry and Government Affairs Asia Pacific, State Street Fern Ngai, Chief Executive Officer, Community Business Limited Paul Choi, Executive Director, Asia Pacific Head of Goldman Sachs University and Talent Branding, Goldman Sachs (Moderator) The objective of this panel is to: • Raise the awareness of the audience on matters related to the LGBT (Lesbian, Gay, Bisexual and Transgender) population. • Start an open dialogue about the current environment in the Hong Kong workplace re. LGBT inclusion, what we can do better together to make organizations a more friendly place for LGBT employees • Share leadership lessons and HR practices in driving LGBT inclusion within organizations Fern Ngai is CEO of Community Business, a not-for-profit organization dedicated to advancing responsible and inclusive business practices in Asia. Fern has over 30 years of broad experience in financial services, change management, and in workplace diversity and community programmes. Steven Chan is the managing director and regional head of regulatory, industry and government affairs for State Street’s businesses in Asia Pacific. He also chairs State Street Hong Kong’s office Global & Inclusion Council and co-chairs the LGBT Pride Network. Paul Choi is an executive director in the Human Capital Management division of Goldman Sachs in Asia and the Head of Goldman Sachs University and Talent Branding for Asia Pacific region. He also chairs the LGBT Network Council for the firm in Asia Pacific.

Jan Online Piracy – Physical and Digital -

Criminal and Civil Legal Options

Evan Williams, Regional Intellectual Property Law Enforcement Coordinator for Asia, United States Department of Justice Jessica Bartlett, Senior Associate, Freshfields Bruckhaus Deringer Criminal investigators and prosecutors have long struggled to combat online piracy and the global trade in counterfeit products. In addition to the sheer technical challenges, however, there are compelling legal questions. In the absence of up-to-date statutes explicitly criminalizing the most modern methods of piracy, such as streaming, how far should prosecutors stretch the definition of existing laws to capture these offenders at the edge of the grid? Evan Williams is serving a long-term detail as the United States Department of Justice Regional Intellectual Property Law Enforcement Coordinator (IPLEC) for Asia. He is based at the U.S. Consulate General in Hong Kong, where he coordinates and delivers intellectual property rights prosecutorial and judicial training and technical assistance throughout the East Asia Pacific region to foreign law enforcement partners of the United States. Jessica Bartlett is a senior associate in Freshfields Bruckhaus Deringer’s dispute resolution practice, based in Hong Kong. She represents both US and non-US financial institutions and corporations in a broad range of industries, including in the pharmaceutical, gaming, entertainment, hospitality, financial services and consumer products industries.

Jan 2017 Chairman's Inaugural Address

Walter Dias, Managing Director, Greater China & Korea Sales, United Airlines At this special inaugural luncheon, AmCham Chairman Walter Dias continues his tenure as Chairman for second year. He will draw the threads of past Chamber successes and ‘defining moments’ into a roadmap for achievement in 2017 and beyond. Walter Dias served as AmCham Chairman in 2016, AmCham Vice-Chairman in 2014 and 2015; and has served on the American Chamber’s Board of Governors since 2012. Walter Dias is the Managing Director of Greater China and Korea for United Airlines. He is responsible for the development and execution of sales and promotion programs, advertising, and public relations for United Airlines in China, Hong Kong, Taiwan and South Korea. Previously, he was the Managing Director-Greater China and Southeast Asia for Continental Airlines which also covered offshore sales in Thailand, Vietnam, Singapore, Malaysia, and Indonesia. He has been responsible for the Hong Kong market since 1993 and led Continental’s Pacific efforts in launching the airline’s first trans-Pacific flight from Greater China in 2001 from Hong Kong nonstop to New York.

For information, see website: www.amcham.org.hk

Tel: (852) 2530 6900

Venue: The American Chamber of Commerce in Hong Kong 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong Time: 12:00pm - 01:45pm Fee(s): Member: HK$280 Non-member: HK$400

Venue: The American Chamber of Commerce in Hong Kong 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong

2017 Jan 01

Sun

Mon

Tue

Wed

Thu

Fri

Sat

Sun

Mon

Tue

Wed

Thu

Fri

Sat

Sun

Time: 12:00pm - 01:45pm

Mon

Fee(s): Member: HK$280 Non-member: HK$400

Tue

Wed

Thu

Fri

Sat

Sun

Mon

Tue

Wed

Thu

Fri

Sat

Sun

Mon

Tue

Venue: Conrad Hong Kong Ballroom, Lower Lobby Pacific Place 88 Queensway, Admiralty, Hong Kong Time: 12:00pm - 02:00pm Fee(s): Member: HK$700 Non-member: HK$800 Corporate table: HK$9,300

Fax: (852) 2810 1289

Email: byau@amcham.org.hk

The business class experience redesigned from Ahh to Zzz.

Arriving December 2016

united.com/polaris

Explore the Technologies from Science Park Looking for exciting investment opportunities and innovative solutions to better serve your customers? Come explore the technologies from Science Park! Smart City

Healthy Ageing

Robotics

Watch this video to explore the technologies from Science Park

With over 600 technology companies developing cutting edge solutions that help shape a brighter future for our community, we drive development in Smart City solutions to raise efficiency, Healthy Ageing technology that enhance quality of life and Robotics for industrial use, edutainment, medical and home care applications. Contact us on enquiry.marketing@hkstp.org for further information!