FWD GROUP ANNOUNCES APPOINTMENT OF FREDERICK MA AS INDEPENDENT NON-EXECUTIVE DIRECTOR AND COMPLETION OF INVESTMENT BY SWISS RE
HONG KONG, 10 December 2013 – FWD Group (“FWD”), the insurance arm of Pacific Century Group (“PCG”), is pleased to announce the appointment of Professor Frederick Ma Si-Hang, GBS, JP as an Independent Non-Executive Director to the Board.
Professor Ma has a long and distinguished career in the private and public sectors, and will add considerable insight to the development of the FWD business. Mr. Ma’s appointment follows that of FWD’s Chairman, the Honourable Ronald Arculli in October, as the company continues its process of establishing and strengthening the role of the Board in providing governance and counsel to FWD’s professional management team.
In the public sector, he was formerly in the Hong Kong SAR Government as the Secretary for Financial Services and the Treasury, and Secretary for Commerce and Economic Development. He brings with him deep experience in the banking and financial sectors, having assumed different positions of seniority in various local and overseas banks and financial institutions, including Chase Manhattan Bank, Royal Bank of Canada Dominion Securities and JP Morgan Chase.
Mr Arculli said, “I am delighted to have Professor Ma join as a member of the Board. It is a great honour to have someone of his calibre and experience to provide oversight and advice as FWD grows.”
In addition, following the earlier announcement on 16 October 2013, FWD today confirms that it has received the necessary regulatory approvals to enable Swiss Re to acquire an initial 12.3% shareholding in FWD.