What are the biggest lessons in your career so far?
The biggest or a lasting sense of achievement does not come from a big promotion. It’s not about a bonus or fame. To me, the biggest sense of achievement comes from making an impact that matters – when one’s hard work, or contributing idea or expertise makes positive changes to an organization or for clients. My time working at a value-driven company like Deloitte really planted the seed of such value-based growth at an early stage of my career, and I feel very lucky to have had that experience.
What do you see as the challenges and opportunities of working in the wealth management industry today?
Looking at it, there are two sides of the same coin. The wealth management industry in Mainland China has come a long way in the past decade. Opportunities arise because of the relatively “young” industry and therefore clients’ need for wealth management, as well as the recognition of value from professional firms, are still growing. At the same time, although clients have become much more sophisticated than the beginning of the century, we are still working with high expectations of returns on products rather than a holistic view of overall wealth management need. It will take time. As the largest independent wealth manager that has focused on serving Chinese high-net-worth individuals for the past 20 years, we anticipate a generational shift in views towards wealth management in the next few years when the next generation take a more central role within businesses and family wealth decision-making.
You have been the CFO of the company since 2019. How have you seen the role of CFO change or expand over the years?
With the help of a very solid Deputy CFO (who is also ex-Deloitte), my role has gone from Chief Accountant to Chief Results Driver, then to a member of the Strategists, and now I am also a champion of a critical new market. All of these additional responsibilities obviously have to do with the trust gained from the Board and the CEO through my performance as the CFO.
How has your time as an audit and assurance professional at Deloitte prepared you for your current role?
It has helped me a great deal, particularly in two areas. It highlighted the key combination of problem solving plus finding a solution that makes commercial sense, which is a critical capability in day-to-day management roles. Another important aspect of my role is the principle-based mindset – we all need to be very aware of the bottom line and boundaries but at the same time we should be able to “interpret” rather than simply “recite” the rules. Being exposed to these two ways of thinking and working continues to help me in my decision making.
How has your CPA training or qualification helped you in your career?
I held CPA qualifications in the U.S., Mainland China, and Hong Kong at one point, and I continue to gain industry knowledge through the CPA network especially as the HKICPA not only shares information and knowledge but also gives me access to a supportive and active community. In the business world, a profound understanding of how finance works is a must, and supports one to obtain a full picture of businesses. My experience in financial audits is also beneficial in other ways – I wrote a book on how to quickly dissect lengthy financial information that has been welcomed by many colleagues and clients.
