This article will be published in 2 parts, with part 1 describing the author background, along with several key points. Remaining points will be elaborated in part 2.
Who is James Stent?
-specialize in economic policy, governance, market entry and financial communication.
-was a senior executive vice president in Bank of Asia in Thailand
-continue to serve as a director in Bank of Asia in Thailand for 2 years after retirement
-was a director in Thai Rating and Information Services
-currently a director in China Everbright Bank
He shared his experience in working with Chinese executives in China banking industry. Here’s the summarized version of the more-than-an-hour video:
1) China is structured based on “family concept”, in the sense where parents (leaders in country) should take care of and provide guidance to their children (citizens in country).
2) Just as parents would manage the finance of the family, similar perception is shared by Chinese leaders. They view that intervention in capital market as a means to an end and for greater good.
3) Chinese leaders have higher expectations from CEOs of China banks. The performance of CEO in China banks are measured based on metrics including the banks’ contribution to the development of country.
4) One of the way to ensure competency of the appointed directors in banking industry is by placing them in different positions throughout the banking industry, which also include crossover between banks. This approach aims to prepare the candidates with necessary experience and skills for their next role. These appointments within banking industry will be done through state government.
Want to know more about China banking industry? Stay tuned for part 2.