PASADENA, Calif.--(BUSINESS WIRE)--
East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West
Bank, the financial bridge between the United States and Greater China,
has appointed Tak-Chuen Clarence Kwan to its Board of Directors. Mr.
Kwan was also appointed to the Board of Directors of East West Bank.
Tak-Chuen Clarence Kwan (Photo: Business Wire)
Mr. Kwan is a retired senior partner of the Chinese Services Group of
Deloitte LLP. He joined Deloitte in 1978 where he held a number of
leadership roles, including National Managing Partner of the Chinese
Services Group of Deloitte U.S. and National Managing Partner and Deputy
CEO of Deloitte China.
Mr. Kwan has over 30 years of financial advisory and management
experience. Since the mid-1980’s, he has been advising U.S., Chinese,
and other multinational companies on cross-border investment, including
mergers and acquisitions, joint ventures and other direct foreign
investments. He has also assisted large and high-growth Chinese
enterprises, both state-owned and privately-held, to achieve sustainable
success in the U.S. From 1995 to 2002, he grew Deloitte’s Beijing office
from 25 to over 500 professionals and expanded Deloitte China’s national
service capabilities to include management consulting and financial
advisory services. As a recognized expert on U.S.-China cross-border
investment, Mr. Kwan has been quoted in numerous publications, including
Businessweek, Financial Times, Fortune, New York Times, Wall Street
Journal, Washington Post and others.
"We are pleased that Mr. Kwan has accepted this opportunity to join the
East West family," said Dominic Ng, Chairman and Chief Executive Officer
of East West. "Clarence brings to our Board a deep and diverse
understanding of international business and has multi-industry
experience, particularly in the U.S. and in China. We look forward to
his guidance and influence as we expand our reach as the financial
bridge between the East and the West," concluded Ng.
About East West
East West Bancorp is a publicly owned company with $21.7 billion in
assets and is traded on the Nasdaq Global Select Market under the symbol
“EWBC”. The Company’s wholly owned subsidiary, East West Bank, is one of
the largest independent banks headquartered in California. East West is
a premier bank focused exclusively on the United States and Greater
China markets and operates over 130 locations worldwide, including in
the United States markets of California, New York, Georgia,
Massachusetts, Texas and Washington. In Greater China, East West’s
presence includes a full service branch in Hong Kong and representative
offices in Beijing, Shenzhen and Taipei. Through a wholly-owned
subsidiary bank, East West’s presence in Greater China also includes
full service branches in Shanghai and Shantou and a representative
office in Guangzhou. For more information on East West Bancorp, visit
the Company's website at www.eastwestbank.com.
Forward-Looking Statements
Certain matters set forth herein (including any exhibits hereto)
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including forward-looking
statements relating to the Company’s current business plans and
expectations regarding future operating results. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results, performance or achievements to differ materially from
those projected. These risks and uncertainties include, but are not
limited to, local, regional, national and international economic,
political or industry conditions and events and the impact they may have
on us and our customers; our ability to attract deposits and other
sources of liquidity; continued deterioration in values of real estate
in California and other states where our bank makes loans, both
residential and commercial; our ability to manage the loan portfolios
acquired from FDIC-assisted acquisitions within the limits of the loss
protection provided by the FDIC; changes in the financial performance
and/or condition of our borrowers; changes in the level of
non-performing assets, reserve requirements, and charge-offs; the effect
of changes in laws, regulations, and accounting standards, and related
costs of these changes; inflation, interest rate, securities market and
monetary fluctuations; changes in the competitive environment among
financial and bank holding companies and other financial service
providers; changes in our organization, management; the adequacy of our
enterprise risk management framework; the ability to manage our growth
and the effect of acquisitions we may make and the integration of
acquired businesses and branching efforts; our success at managing the
risks involved in the foregoing items and other factors set forth in the
Company’s public reports including its Annual Report on Form 10-K for
the year ended December 31, 2011, and particularly the discussion of
risk factors within that document.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50342505&lang=en
East West Bancorp, Inc.
Irene Oh
Chief Financial Officer
(626)
768-6360
or
Emily Wang
Media Relations
(626) 768-6266
Source: East West Bancorp, Inc.