The company, which is dual-listed in New York and Singapore, will also adopt a majority independent board structure.
AMTD International, a subsidiary of Hong Kong-headquartered financial services group AMTD, has promoted William Fung as chief executive officer with immediate effect, the firm said in an announcement on Tuesday.
Fung will hold the role in addition to his position of group vice president of AMTD Group. Fung was previously the company’s chief investment officer and head of asset management. Before joining AMTD in 2016, he was an executive director at UBS in Hong Kong for more than six years, and also held roles at Nomura and Lehman Brothers.
He takes over in the role from Calvin Choi, AMTD's group chairman and CEO, who will focus his time and efforts on the strategies and future development plans of the overall AMTD Group, which include building multi-disciplinary businesses in Asia spanning across digital services and solutions, K-12 education, premier properties and hotel investments, and professional services, the announcement said.
New Board Members
Choi and Andrew Chiu will also leave the company's board. Joining in their place are Feridun Hamdullahpur, an independent director, as the new chairman; and Gao Yu, also an independent director, as the new vice-chairman.
AMTD International's assets under management has grown by some 185 percent since 2017 to reach over $3.5 billion as of June 30, 2020, according to the firm. It has also executed over 100 international capital markets transactions, raising over $22 billion of proceeds for Asian clients, including a number of landmark transactions in the past two years.
AMTD previously announced that it will open in Singapore its group regional headquarters, as well as AMTD Digital's global headquarters, led by chief information and operating officer Osman Faiz, in the next 8 to 12 weeks.
