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Taiwan to appoint new chairman for Mega Financial

Thursday, September 1, 2016 - 15:41

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Taiwan's government is set to appoint banking veteran Michael C S Chang as chairman of state-owned Mega Financial Holding Co Ltd, three people familiar with the matter told Reuters on Thursday.

[TAIPEI] Taiwan's government is set to appoint banking veteran Michael C S Chang as chairman of state-owned Mega Financial Holding Co Ltd, three people familiar with the matter told Reuters on Thursday.

The appointment would come a day after Shiu Kuang-si quit as chairman after the New York branch of the firm's banking unit was fined last month by New York regulators for anti-money laundering violations.

Earlier on Thursday, Mega Financial said its current president would serve as interim chairman.

The government is likely to formally announce Mr Chang's appointment later on Thursday, said the people, who were not authorised to speak with media on the matter and so declined to be identified.

Mr Chang was formerly chairman of state-controlled First Financial Holding Co Ltd from 2006 to 2008.

REUTERS

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