Unassuming may be one way to describe Chuang Kuo-Hsiung, president of Taiwan's Chiao Tung Bank (CTB) since 2000. But while his personal style is undemonstrative, his actions as leader have been anything but. With numerous diplomatically termed ‘mergers' in the offing (CTB being the senior party in each), Chuang and his bank are assuming an ever more important role in the island's financial landscape. On the agenda is a series of deals aimed at creating a full service financial company to rival the success of competitor groups, Fubon and Cathay. To that end, brokerage firm International Securities joined the holding company early this year. From August 22 Chung Hsing Bills Finance and Barits Securities will also be amalgamated into the CTB empire. Chuang says due diligence on another, much larger merger, this time with International Commercial Bank of China (ICBC), should be completed by October 21. All being well, ICBC will be welcomed into the CTB fold by January 29 2003.
September 01, 2002