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Kaohsiung Bank Chairman to Head Financial Supervisory Commission

icon2016/10/20
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 Kaohsiung Bank Chairman to Head Financial Supervisory Commission

 Sources: All Taipei newspapers

 October 20, 2016

The Executive Yuan (Cabinet) yesterday announced that Lee Ruey-tsang (李瑞倉), chairman of the Bank of Kaohsiung, was appointed as the new chairman of the Financial Supervisory Commission (FSC). 

The appointment fills the vacancy left after the resignation of former FSC head Ding Kung-wha (丁克華), who stepped down over a scandal involving allegations of irregularities by the New York branch of the state-owned Mega Financial Holding Co. (兆豐金控). 

Cabinet spokesman Hsu Kuo-yung stated during a press conference that Lee had served in several high-ranking posts in the Finance Ministry, such as acting minister, deputy minister, and director of the National Property Administration, so Premier Lin Chuan had the utmost confidence in Lee’s professionalism and capabilities. 

Lee Ruey-tsang’s suitability to head the FSC has been called into question given the fact that his professional background has largely involved the supervision of state-owned real estate properties and his lack of adequate experience in the financial sector. However, Hsu noted that Lee was the incumbent chairman of the Bank of Kaohsiung and he had spent most of his career in the Finance Ministry, adding that “Lee’s professionalism is beyond question.”

 

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