| BUSINESSWEEK ONLINE : JUNE 14, 1999 ISSUE | ||||||||
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| INTERNATIONAL -- ASIAN COVER STORY
David Chiang, Chairman, Lombard/Asian Private Investment, Hong Kong (int'l edition) TO GET PART OF DAVID CHIANG'S $250 MILLION CAPITAL INVESTMENT FUND, a company must promise better corporate governance, greater transparency, and more accountability. ''In most Asian companies, the chairman controls everything and the board just rubber stamps,'' he says. Chiang hopes his money can change that, at least in small companies hit by the Asia crisis. Since launching Lombard in 1997, Chiang, 59, has put $40 million into three companies in Thailand and South Korea. All have set up corporate governance committees, added independent directors, and given more clout to professional managers. His fund is backed by U.S. corporate-governance pioneer CalPERS and the Asian Development Bank, so his influence reaches beyond the dollar amounts of his investments. Born in China, Chiang grew up in Taiwan and studied engineering in Canada. Then Raychem Corp. sent him to Hong Kong to head Asian operations. During his 11 years there, he frequently rebuffed requests for payoffs. ''I have always believed in a Snow White policy,'' he says. Now, he hopes, companies he invests in will, too. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP |
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 The Stars of Asia RELATED ITEMS David Chiang, Chairman, Lombard/Asian Private Investment, Hong Kong (int'l edition) ONLINE ORIGINAL: ``Knowledge of Corporate Governance Is Very Shallow'' (int'l edition) INTERACT E-Mail to Business Week Online | |||
