The family office of Hong Kong's renowned Cheng family has announced the appointment of three co-chiefs, including a son of the patriarch.
Chow Tai Fook Enterprises (CTFE) has appointed Christopher Cheng as co-CEO and head of North Asia; Patrick Tsang as co-CEO and head of Americas, Australia and Europe as well as Gilbert Ho as co-CEO and head of corporate functions and operations, according to a statement.
The three newly created positions form a CEO office for the private investment vehicle of the Chengs, Hong Kong’s third-richest family with an estimated net worth of $22.1 billion, according to Forbes, best known for their jewelry and property development business.
«I am excited to continue to grow the office with the appointment of the three leaders whom I have worked closely with in different fields of the business,» commented Henry Cheng, patriarch of the Cheng family. «Our investment philosophy is to create a lasting legacy of positive impact, and to drive transformative results for our investees, our employees, our community, and for the countries in which we operate.»
Family Business Experience
The three co-CEOs all have experience working in various parts of the Cheng family business. Christopher, son of Henry Cheng, has been an executive director of NWS Holdings since 2020 and has been a director of certain subsidiaries within the group.
NWS is a conglomerate that owns businesses including toll roads, insurance, logistics, construction and facilities management.
Tsang is an in-law to the Chengs and holds various other roles including non-executive director of NWS and director of Chow Tai Fook, another conglomerate owned by the family and the main brand name of the flagship jewelry business. Ho is co-CEO of NWS Holdings.
