Dominic Ng

Dominic Ng (simplified Chinese: 吴建民; traditional Chinese: 吳建民; pinyin: Wú Jiànmín) is an American banker who has been chairman, president and CEO of Los Angeles–based East West Bank since 1991, overseeing its growth from a savings and loan association with $600 million in assets to a full-service commercial bank with $62.6 billion in assets.[1]

Dominic Ng
Chinese: 吳建民
Born1959 (age 6364)
Alma materUniversity of Houston
Occupation(s)Chairman, president and CEO, East West Bank

Ng served on the board of directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch, from 2005 to 2011 and was appointed by the Biden administration to be a U.S. member of the Asia-Pacific Economic Cooperation Business Advisory Council in 2022.[2]

Early life and education

Ng was born in Hong Kong in 1959[3] and earned a bachelor's degree from the University of Houston.

Career

Ng spent ten years as a Certified Public Accountant with Deloitte & Touche in Houston and Los Angeles.[4]

In 1991, Ng was hired by Pasadena-based East West Bank to be its third chairman, president and CEO.[5]

Ng has served on numerous boards of directors including those of the Federal Reserve Bank of San Francisco, Los Angeles Branch,[6] the Academy Museum of Motion Pictures,[7][8] Mattel,[9] the Asia Society,[10] Los Angeles Mayor's Trade Advisory Council,[11] United Way of Greater Los Angeles,[12] PacifiCare Health Systems[13] and Town Hall Los Angeles. He is on the board of trustees at the University of Southern California,[14] the Board of Visitors of the Anderson School at UCLA,[15] and the Financial Institutions Advisory Committee of the California State Treasurer.

Participation in China–U.S. relations

Ng has been involved in various facets of China–U.S. relations, cultural and political, for much of his career. He has been a speaker at the Boao Forum for Asia,[16] China-United States Exchange Foundation,[17] the Asia Society,[18] the Chinese CEO Organization, Federal Reserve Bank, Los Angeles County Economic Development Corporation, Milken Institute,[19] the United States Conference of Mayors[20] and United Way.

Ng has advocated for and sponsored the showcasing of Chinese culture and art by major U.S. institutions including Los Angeles County Museum of Art, the Museum of Contemporary Art, Los Angeles,[21] Huntington Library,[22] Bowers Museum,[23] and the USC Pacific Asia Museum.[24]

In 2000, Ng became a member of Committee of 100[25] and served as chairman from 2011 to 2014.[26]

In 2022, Ng was appointed by the Biden administration to be a U.S. member of the Asia-Pacific Economic Cooperation Business Advisory Council,[2] and later that year was announced to chair the 2023 APEC summit to be hosted by the U.S.[2] In February 2023, Republican representatives asked the FBI to investigate Ng's ties to front organizations of the Chinese Communist Party's United Front Work Department,[27] citing his being listed as an executive director of the China Overseas Exchange Association (COEA) between 2013 and 2017[28] and of the China Overseas Friendship Association (COFA) starting in 2019.[29] A spokesperson for East West Bank described Ng's position with the COEA as being strictly honorary and involving no attendance and stated that Ng had never accepted any position with the COFA.[27] Several members of the Congressional Asian Pacific American Caucus characterized the request for investigation as being fundamentally racist in nature.[30]

Honors and awards

Ng has been recognized for his work by the Los Angeles Times;[31] Forbes;[32][33] United Way Worldwide;[34] the Anti-Defamation League, Pacific Southwest Region;[35] the Sino-U.S. Times;[36] the Los Angeles Business Journal;[37][38] Los Angeles's Central City Association;[39] the Los Angeles Economic Development Corporation;[40] the Alfred Mann Foundation;[41] Ernst & Young;[15] American Banker;[42] and Lingnan University in Hong Kong.[43][44]

References

  1. "East West Bancorp Reports Net Income for Third Quarter 2022 of $295 Million and Diluted Earnings Per Share of $2.08; Record Net Interest Income of $552 Million". BusinessWire. 2022-10-20.
  2. "Dominic Ng Appointed to Chair APEC Business Advisory Council During U.S. Host Year in 2023" (Press release). U.S. Department of State. 25 July 2022. Retrieved 2023-03-29.
  3. "Dominic Ng nndb.com". Retrieved 25 May 2017.
  4. "East West Bancorp Inc (EWBC:NASDAQ GS)", Bloomberg Businessweek, July 2, 2012
  5. "investor.eastwestbank.com". Retrieved Dec 2, 2016.
  6. "Federal Reserve System Organization: Annual Report 2010", Board of Governors of the Federal Reserve System
  7. "Academy Brings Architect Renzo Piano to N.Y. to Tout Movie Museum Plans". variety.com. 16 April 2018.
  8. Welk, Brian (2019-11-06). "Laura Dern and 6 Others Added as Academy Museum Trustees". TheWrap. Retrieved 2020-08-31.
  9. "Mattel: Committees and Charters"
  10. “Our Board” “Asia Society”
  11. "Tavis Smiley: China – Roundtable, Mr. Ng’s bio" PBS, July 15, 2011
  12. "About Us / Boards & Cabinets" Archived July 17, 2015, at the Wayback Machine, United Way of Greater Los Angeles
  13. "SECURITIES AND EXCHANGE COMMISSION: PACIFICARE HEALTH SYSTEMS, INC.", February 21, 2003
  14. “East West Bank chairman Dominic Ng named USC trustee”, “USC News, University of Southern California ”
  15. "Dominic Ng of UCLA Anderson's Board of Visitors Named Entrepreneur of the Year in Financial Services", June 22, 2001
  16. "Boao Forum for Asia- Agenda", Boao Forum for Asia, April 5, 2013
  17. "Thought Leaders Convene in Los Angeles to Chart Course for Growth and Opportunity through US-China Economic Cooperation in Next Decade", PR Newswire, June 17, 2013
  18. "Dominic Ng: China, the US, and Public Perceptions", Asia Society, March 11, 2011
  19. "Speaker's Biography: Dominic Ng", Milken Institute
  20. Tom McClimon and Kay Scrimger, "Effective Export Strategies Begin With “Export More!”" Archived 2014-09-12 at the Wayback Machine, The United States Conference of Mayors, August 1, 2011
  21. Muchnic, Suzanne (2007-08-29). "MOCA's Chinese future". Los Angeles Times. Retrieved 2023-02-27.
  22. "Huntington Library's new garden celebrates Chinese culture". Los Angeles Times. 2008-02-17. Retrieved 2023-02-27.
  23. "Bowers Museum of Cultural Arts get $1 million gift". Orange County Register. 2005-12-12. Retrieved 2023-02-27.
  24. "USC Pacific Asia Museum’s Autumn Moon Gala honors Dominic Ng", USC News , Nov. 17, 2014
  25. "Committee of 100 - Member Roster". Retrieved 25 May 2017.
  26. "Biography of Dominic Ng at Committee of 100". Archived from the original on 3 August 2017. Retrieved 25 May 2017.
  27. Mueller, Julia (February 15, 2023). "House Republicans ask FBI to investigate Biden appointee over potential Espionage Act violations". The Hill. Retrieved 29 March 2023.
  28. "中国海外交流协会-内容". China Overseas Exchange Association. 2013-10-16. Archived from the original on 16 October 2013. Retrieved 2023-02-20.
  29. "中华海外联谊会第五届理事会人员名单". China Overseas Friendship Association (in Chinese). 23 August 2021. Archived from the original on 23 August 2021.
  30. Richards, Zoë (23 February 2023). "Rep. Judy Chu hits back at Texas Republican over 'racist' remarks questioning her loyalty to U.S." NBC News. Retrieved 31 March 2023.
  31. "THE POWER ISSUE - The West 100 - Our list of the most powerful people in Southern California", The Los Angeles Times, August 13, 2006
  32. "Newsmakers: Links to Members in the News", Committee of 100, August 2010
  33. Russell Flannery, "Marvell Technology's Mobile Connector", Forbes.com, August 09, 2010
  34. "Dominic Ng to Receive 2015 United Way Tocqueville Society Award", United Way, March 17, 2016
  35. "ADL Annual Gala Raises $1.1 million; Honors Dominic Ng and Dean Marks”, ‘’Anti-Defamation League’’, December 10, 2014
  36. "2013 U.S.-China Economic and Trade Leaders ", the Sino-U.S. Times, January 8, 2014
  37. "Dominic Ng: Made in America". Los Angeles Business Journal. 25 March 2012. Retrieved 2020-06-26.
  38. "Los Angeles Business Journal - 03/12/2012 digital edition", Los Angeles Business Journal, March 12, 2012
  39. Jane Leung Larson, "Honorable Mentions: Recent Awards to C100 Members—Dominic Ng, Treasures of Los Angeles Award"
  40. "LAEDC honors East West Bank Chairman Dominic Ng with 2011 Individual Eddy Award", Asian Journal
  41. "2009 AMF Award Winners" Archived March 11, 2012, at the Wayback Machine, Alfred Mann Foundation
  42. "Consistent Performer: How Dominic Ng built East West into a powerhouse". American Banker. November 28, 2017.
  43. "Business leader Dominic Ng speaks on US-China relations after receiving honorary fellowship at Lingnan University", Lingnan University, August 30, 2012
  44. "Lingnan University to confer honorary fellowship upon five distinguished individuals", Lingnan University, August 10, 2012
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