Cream of the Crop This is a monthly column introducing professionals who represent the best in their respective industries CEO's mission to serve society by Ella Lee International experience provides necessary overview of banking and finance profession While Hong Kong can justifiably claim to be a key financial hub for Asia, it is still a few steps behind New York as a recognised centre of global business. Between them, though, the two cities offer unrivalled exposure to international markets and the big deals, something which Ka-shi Lau has come to appreciate in the course of a varied career of over 20 years in the finance industry. Altogether, Ms Lau spent six years studying and 10 years working in New York, and believes it is the ideal place for young professionals to gain exposure and develop their talents. "The pace there is as fast as in Hong Kong and, particularly in banking and finance, you get to deal with the latest products and services in a highly mature and properly regulated market," she says. Ms Lau's first full-time job was as a trainee with a bank in New York. As the only woman and the only Asian, she was determined to work as hard as necessary to prove her abilities and outperform her colleagues. It was an early example of the self-motivation and dedication that has helped her to succeed. She explains that it is in her nature to see difficulties as challenges, and to respond to them positively as a test of her abilities. The decision a year later to focus on project finance and risk management was an important milestone. It meant a heavy workload, great pressure, and having to work until midnight almost every day. However, by specialising in investment banking, it was possible to learn how businesses operated in everything from the fishing industry to windmill technology, and gave her the chance to advance quickly. In spite of the long hours at work, Ms Lau still found time to experience New York's rich cultural life with visits to the ballet and concerts. Days off might involve reading business documents but, when possible, she did this in Central Park, so as to get out and enjoy the scenery. Ms Lau takes great pleasure in doing charity works Exciting challenge In 1988, Ms Lau felt it was time for a change and returned to Hong Kong, partly for family reasons. Initially, she made use of her links with Citibank to join their wealth management team, but soon moved to a regulatory role with the newly formed Securities and Futures Commission (SFC). It was established in 1989 and presented an exciting challenge and an opportunity to serve the industry by contributing to the creation of better regulated financial markets. As chief of staff to the SFC's first chairman, she was able to learn a lot simply through observing. "My boss was very knowledgeable and had a high level of integrity," she recalls. "He was also skillful in dealing with the politics which are an inevitable part of being a regulator." Keen to continue serving the industry as a whole, Ms Lau subsequently joined the Hong Kong Mortgage Corporation (HKMC) as vice president for marketing and research, when it was set up in 1997. She was a firm believer in its role as a body to promote wider home ownership with a mortgage insurance programme. Serving the community and the industry can broaden her horizon Retirement protection Now, as the managing director and CEO of Bank Consortium Trust Company Limited (BCT), Ms Lau sees her current position as another chance to serve society — this time by providing protection for retirement. BCT is a strategic alliance of eight local financial institutions providing pension and trust services, and is one of the top five MPF players in Hong Kong. Ms Lau agrees there is still room for improvement in the MPF scheme. "Consensus is never the best solution, but what we have got is still good," she says. "The MPF's target is to provide basic protection only. People in Hong Kong should have other savings for retirement, and traditionally they have always realised that." Throughout her career, Ms Lau has consistently accepted invitations to serve the industry and the community in many different ways. She is therefore a member of professional bodies such as the Hong Kong Trustees' Association and the Hong Kong Retirement Schemes Association, while also assisting other welfare organisations, including the Environment and Conservation Fund and the Women's Commission. By doing this, she hopes to support the overall development of society. Milestones 1999 - Joined Bank Consortium Trust Company Limited 1997 - Served as vice president, marketing and research, for the newly formed Hong Kong Mortgage Corporation 1992 - Became assistant general manager and head of private banking at ABN AMRO Bank 1989 - Acted as chief of staff to the first chairman of the Securities and Futures Commission 1988 - Returned to Hong Kong with Citibank 1985 - Worked for Citibank New York in wealth management 1980s - Specialised in investment banking in New York Taken from Career Times 2 June 2006 Your comments are welcome at [email protected]