ACGA Council

Douglas Henck
Chairman ACGA, Retired Chairman & CEO, AEGON Asia

Douglas Henck has spent over 30 years in international insurance with a particular focus on Asia. He was appointed CEO of Aegon Asia on January 1, 2011 and is Chairman of Aegon Asia’s Executive Committee. He also serves as a member of Aegon’s global Management Committee.

Educated in the US, he began his career at Aetna, Inc. in 1974 and qualified as a Fellow of the Society of Actuaries in 1978. During his long career, he has held executive positions at Aetna, AIG, and Sun Life Financial.

From 2006 to 2009, Mr. Henck was based in Haifa, Israel, where he served as Chief Financial Officer at the Bahá’í World Center, the global administrative headquarters of the Bahá’í Faith.

Mr. Henck was elected Chairman of the Asian Corporate Governance Association in November 2014 after having served as Vice Chairman since 2004. He is also a Past Chairman of the American Chamber of Commerce in Hong Kong (having led the organization during the historic 1997 calendar year) and served two terms as Chairman of the Asia Pacific Council of American Chambers of Commerce from 1993 – 1995. He is a member of the Board of Directors of the Harmony Program, a New York based charity providing music lessons to economically disadvantaged children.

Vice Chairman
Anthony Muh Yi Tong
Chief Executive, H.R.L. Morrison & Co Capital Management (Int)

ACGA Council Members, April 2015 Anthony Yi Tong Muh Anthony is a Partner of H.R.L. Morrison & Co and CEO of H.R.L. Morrison & Co Capital Management, a specialist investor and operator of infrastructure and utility assets. An investment professional with more than 25 years experience in both traditional and alternative investment management industry. He is responsible for expanding Morrison & Co’s investment capabilities outside of its traditional markets and also oversees the development of managed mandates and products for the group.

Anthony previously headed up the Asia Pacific proprietry investment activities of UK’s largest listed closed-end investment company Alliance Trust PLC. Over that time he also established for Alliance Trust PLC its new asset management business. He had also spent over a decade with Citigroup Global Asset Management, where he was a member of its Global Asset Management Committee and a member of Citigroup’s Hong Kong country board. Anthony was Chief Investment Officer and Regional Head of Investment for Salomon Brothers Asset Management Asia Pacific and Citigroup Asset Management. He is a past Chairman and Fellow of the Hong Kong Securities Investments Institute and a past Chairman and Fellow of the New Zealand Society of Investment (now known as INFINZ). He is currently Vice Chairman and a board member of Asian Corporate Governance Association and an Advisory Board member of Euromoney Institutional Investor Plc. Anthony is an alternate Director of listed company Infratil and an Non Executive Director of London listed company Utilico Emerging Markets Limited.

Stephen A. Fuller
Head of International Government Affairs, The Travelers Companies, Inc.

Stephen A. Fuller Head of International Government Affairs Senior Vice President, TCI Global The Travelers Companies, Inc. In October 2015, Steve Fuller joined the The Travelers Companies, Inc. responsible for managing Travelers’ International Government Affairs presence, focusing on regulatory, trade and investment issues. In this role Mr. Fuller concentrates on deepening Travelers’ relationships with international regulators, government officials, legislative oversight committees, and international trade associations. Mr. Fuller will help develop and implement strategies to build Travelers’ international network and the company’s presence in key foreign markets. Steve also is involved in the ongoing international regulatory reform and capital standards dialogue with U.S. and international regulators. Finally, Mr. Fuller works closely with Travelers’ U.S. Government Relations team to coordinate strategies on key topics, such as market conduct, credit scores, broker compensation, and sales practice issues.

Based in Washington, D.C., Mr. Fuller joined Travelers from Chubb, where he served as the International External Affairs Officer responsible for the corporation’s global government relations team. He was previously Chubb’s China Country Manager, AsiaPacific Zone Manager for Marketing and External Affairs, and interim India Country Manager.

Mr. Fuller also spent over a decade with The Asia Foundation as Representative for Malaysia, Singapore and Brunei, and Assistant Representative for Indonesia and South Korea.

Mr. Fuller is an Asian Corporate Governance Association Council Member and Chair of its Membership Committee. He is also Chair of the American Insurance Association’s International Committee and an Advisory Board Member of the RAND Corporation’s Center for Asia Pacific Policy. Mr. Fuller received an MA degree from the Johns Hopkins School of Advanced International Studies (SAIS) and a BA (with honors) in Chinese Language and Asian History from the University of Maryland.

Ka Shi Lau
Managing Director & CEO of BCT Group

Ka Shi Lau is the Managing Director & CEO of BCT Group, comprising BCT Financial Ltd (BCTF) and Bank Consortium Trust Co Ltd (BCTC). The BCT Group is major MPF product provider and one of the largest trust companies in Hong Kong focusing on the provision of pension products and asset servicing for investment funds and pensions. 

Apart from her current role as Vice Chairman of the Hong Kong Trustees’ Association, she serves on various statutory and professional bodies including the Mandatory Provident Fund Schemes Authority (MPFA), Securities and Futures Commission (SFC), Financial Services Development Council, Hong Kong Trade Development Council, the SFC’s Investor Education Centre, Hong Kong Retirement Schemes Association, Hong Kong Institute of Certified Public Accountants, Institute of Financial Planners of Hong Kong, and The Hong Kong Institute of Directors. She also holds public service roles including in the Minimum Wage Commission, the Independent Commission on Remuneration for Members of the Executive Council and the Legislature, and Officials under the Political Appointment System of the HKSAR, and Our Hong Kong Foundation’s “Business for Social Good” Platform.

Amongst various awards, Ka Shi was awarded the “Bronze Bauhinia Star” (BBS) by the HKSAR Government. She is the first woman to receive the Director of the Year Award in the “Private Companies, Executive Director” category from The Hong Kong Institute of Directors. She was also named “Professional of the Year” in the “Women of Influence Awards 2010”, jointly organized by the American Chamber of Commerce in Hong Kong and South China Morning Post

Ka Shi graduated from Cornell University (USA) with an MBA. She also completed an Executive Leadership Programme in Global Finance of the “Institute of Global Economics and Finance” in the Chinese University of Hong Kong.  She possesses extensive banking and finance experience in the pension and funds industry; investment banking; project finance; global investment, trust and custody services; risk management and compliance; and banking and securities operations.

Robert Morrison
Chairman, Kiwibank (Former Chairman, CLSA Asia Pacific Markets)

Mr. Morrison is currently Chairman of the New Zealand Government-owned bank, Kiwibank and Chairman of H.R.L. Morrison & Co, a specialist infrastructure manager. He is also Chairman of Pure Advantage, a New Zealand NGO focused on highlighting the opportunities from the global shift to low-carbon, more sustainable, green growth.

He was formerly Chairman of CLSA Asia-Pacific Markets, an award-winning brokerage, investment banking and private-equity group, headquartered in Hong Kong. Prior to joining CLSA, Mr. Morrison was an Executive Vice President and Head of Equities at Bankers Trust Australia, based in Sydney and, before that, Chief Executive Officer of Bankers Trust New Zealand.

He is an Advisory Professor at Nankai University in Tianjin, China, and a member of the Asian Advisory Board of The Nature Conservancy, the leading conservation organisation working around the world to protect ecologically important lands and waters for nature and people.

Stan Shih
Co-founder, Acer Group; Group Chairman, iD SoftCapital

Stan Shih is the Chairman of Stans Foundation and iD SoftCapital Group, Co-founder & Honorary Chairman of the Acer Group, and the Chairman of National Culture and Arts Foundation. Throughout his career, he has been a social entrepreneur all his life.

Mr. Shih serves on the Boards of ABW family (Acer, BenQ, and Wistron), Taiwan Semiconductor Manufacturing Co., and Nan Shan Life Insurance Co., Ltd. In Social & Public Services, he acts as the Chairman of the ADOC 2.0 Project Non-Government Steering Committee, an Asia Business Council member, Board of Director of Taiwan Public Television Service Foundation.

Mr. Shih had the honor to get One of the 10 Most Outstanding Young Persons in Taiwan in 1976, The Most Outstanding Young Engineer in Taiwan in 1981, and the 1st One of the 10 most Outstanding Young Persons in the World in 1983. He is a former Chairman of the Asia Business council, a Governor of the Asian Institute of Management, and an Honorary Chairman of the Taiwan Excellent Brand Association. He also serves as an International Advisory Board (IAB) member of the China Europe International Business School (CEIBS).

BusinessWeek named Mr. Shih one of its 25 Top Managers of the Year in 1996. Time featured him in its article “60 years of Asian Heroes” for turning Taiwan into a PC-manufacturing powerhouse. In 2007, Mr. Shih, as Taiwan’s Special Envoy, attended the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Summit in Sydney, Australia. Being that he has given long-term outstanding contributions, the President honored him the Order of Brilliant Start with Grand Cordon in Oct., 2011. and the 1st Industrial Technology Research Institute (ITRI) Laureate in 2012.

Mr. Shih earned a Bachelor’s, Master’s, and honorary Ph.D in electronics engineering from the National Chiao Tung University in Taiwan. He was awarded an Honorary Doctorate of Technology by the Hong Kong Polytechnic University, and an Honorary Doctor of International Law from the Thunderbird School of Global Management.

Dr. Elizabeth Sun
Director of Corporate Communications, Taiwan Semiconductor Manufacturing Company

Elizabeth Sun is the Director of TSMC’s Corporate Communications Division, an organization that covers Investor Relations, Public Relations, and Customer Communications. She joined TSMC as a Deputy Director of Finance in March 2003, became Head of Investor Relations in July 2003, and expanded her responsibilities to cover the Public Relations function since August 2010. She has been a recipient of many awards, including IR Magazine’s Best Investor Relations Officer (eight times in the last ten years), Best IRO in the Institutional Investors survey (2011- 2014), and the National Management Excellence Award in Finance (2007) from the Chinese Professional Management Association. In December 2012, she was recognized by the IR Magazine as one of the world’s top 25 IROs in the last 25 years.

Prior to joining TSMC, Elizabeth has held various positions in the investment field, including Partner and CFO at InveStar Capital, a high tech venture capital management company, Head of Research and General Manager at HSBC Securities in Taiwan, and VP and Spokesperson for the NYSE-listed ROC Taiwan Fund.

From 1989 to 1994, Elizabeth was a professor of Finance at the San Jose State University in San Jose, California. She holds a Ph. D. in Finance and an MBA from the University of Cincinnati, and a B.A. in Philosophy from National Taiwan University.

Pote Videt
Managing Director, Lombard Investments

Pote Videt is a Managing Director of Lombard based in Bangkok. Lombard is a leading international private equity investment manager with offices in Bangkok, Hong Kong and San Francisco, and extensive working relationships in Ho Chi Minh City, Manila, Shanghai and Taipei. Formed in 1985, Lombard has made more than 100 minority growth and control investments in Asia and North America.

The firm's investors include some of the world's largest and most respected financial institutions, major pension funds and corporations, as well as family offices in Asia, Europe and North America.Prior to joining Lombard in 2002, Mr. Videt was Managing Director of Credit Suisse First Boston responsible for Southeast Asia, and Managing Director of Goldman Sachs in Hong Kong. In 1997, Mr. Videt  served as Deputy Minister of Commerce in the Thai Government, and was appointed to  the Council of Economic Advisors to the Prime Minister of Thailand in 2001.

Mr. Videt sits on the Boards of several companies in Southeast Asia, as well as on board of the Asian Corporate Governance Association.  He is President of the Harvard Club of Thailand and trustee emeritus of the Asia Society - New York.  Mr. Videt graduated summa cum laude, Phi Beta Kappa from Yale University with a B.A. degree and holds an M.B.A. with distinction from Harvard Business School. 

Steven T. Watson
Partner, Capital International Inc

Steven Watson is the Chairman of Capital's China Group. Based in Capital's Hong Kong office, he is a portfolio manager in The Income Fund of America, New Perspective Fund, the International Growth and Income Fund, and American Funds Insurance Series, Global Growth Fund and Global Growth and Income Fund. He is also vice president of The Income Fund of America and vice chairman of International Growth and Income Fund.

Prior to joining Capital in 1990, Steve was a research analyst for Sanford C. Bernstein & Co. and a vice president of China Communications, a marketing consulting firm.

Steve received a bachelor's degree in French from the University of Massachusetts, a master's degree in French studies from New York University and an MBA from New York University and l'Universite de Paris. Additionally, he studied Chinese at Wuhan University and Shanghai Foreign Language Institute, both in the People's Republic of China.

Peter K. Yam
Retired President, Emerson Greater China

Peter K. Yam joined Emerson (NYSE: EMR) in 1986 and retired as president of Emerson Greater China and chairman of Emerson Electric (China) Holdings Co., Ltd in April 2008. For more than two decades, Yam played a key role in leading Emerson’s investments in China.

Yam holds a bachelors degree in electrical engineering from the University of Hong Kong and an Executive MBA from the University of Chicago. He is currently a non-executive director of Global Sources Ltd. (NASDAQ: GSOL), a member of the Asian Corporation Governance Association governing council, an adjunct professor of The Chinese University of Hong Kong’s Faculty of Business Administration Department of Management and a member of the College Council and the Board of Governors of the Centennial College, Hong Kong (a member of The University of Hong Kong Group).

Yam was previously a member of the Suzhou Industrial Park International Advisory Committee, a director of the Executive Committee of Foreign Investment Companies in Beijing, a non-executive director of Sun Life Hong Kong Limited, a member of the Board of Directors of the Hong Kong Science & Technology Parks Corporation, a vice-president of the American Chamber of Commerce in Hong Kong, a visiting professor of Nanjing University’s School of Business and a visiting professor of Jiangmen Polytechnic in China.

Yuelin Yang
Deputy Group Managing Director, Corporate Office of IMC Industrial Group, Singapore
Yuelin T Yang is the Managing Director of the Asset Management unit of IMC Industrial, which forms an integral part of the Group’s industrial supply chain strategy. He oversees investments in the Group’s shipping and marine assets and is responsible for the representative offices in Japan and South Korea. Mr Yang also is responsible for various Industrial Group Corporate Services including financial controllership (for services required by Industrial Group), legal, insurance, tax, people and organization, business planning, IT, and HSSE. He is a Member of the Boards of IMC’s joint ventures with (a)  Chevron (NYSE: CVX) in Thailand for offshore oil and gas fabrication and installation services and (b) GATX (NYSE: GMT) for chemical tanker shipping and in China for railcar leasing.  He is also a non-executive director of the Asian board of Verlinvest which is a family investment company for the Belgium families who are major shareholders of AB InBev.
Mr. Yang has lived and worked in Silicon Valley, Taipei, Hong Kong and Singapore.  After practicing law at two well known Silicon Valley law firms, he has spent over 20 years in senior management working with founders at an Asian multinational and then an Asian family company. As Associate General Counsel at Acer Computers, Mr Yang reported directly to Acer co-founder Mr. Stan Shih.  Mr. Yang negotiated  major commercial contracts worldwide as Acer’s revenue grew from $1 billion in 1991 to $5.7 billion in 1995. Since then, Mr. Yang has held various senior management roles at IMC Group which was founded by his uncle in Hong Kong after World War II. IMC’s business lines include shipping, shipyards, ports and logistics and a diversified portfolio of investments including natural resources.
As IMC’s Finance Director, he led IMC’s IPO exercise in 2004 involving a Singapore Exchange listing with Rule 144A tranche and managed Goldman Sachs, BNP, DBS, PWC and 4 law firms.  The IPO was called off when an IMC ship ran aground off Alaska in December 2004 which at that time the media called the second biggest oil spill since Exxon Valdez.  He then led negotiations with the US Department of Justice, EPA, Coast Guard and the State of Alaska regarding this incident off Alaska.  He managed teams of external counsel and insurers in dealing with federal, state and private claims. In 2007, IMC successfully settled with the DOJ regarding criminal claims and insurers paid for cleanup costs and civil claims.
Mr Yang is on the World Economic Forum’s Global Agenda Council for ASEAN, the Family Business Advisory Committee of Insead and the OECD’s Roundtable on Asian Corporate Governance. He is a member of the Pacific Pension Institute (San Francisco), the Asian Corporate Governance Association (Hong Kong), and the Industry Advisory Council of NUS Business School’s Centre for Governance, Institutions & Organizations.
Mr Yang received a Bachelor of Science in Industrial Engineering from Stanford University and a JD from Stanford Law School.
Mr. Yang speaks and writes frequently on Asian family businesses and family offices. A partial list of his speeches is attached.
Born and raised in the USA, Mr. Yang has lived in Asia since 1995 and now resides with his wife in Singapore where he is a US citizen with Singapore permanent residency.
Speaking Engagements – Asian Family Businesses and Family Offices
Mr. Yang has chaired and been an invited speaker worldwide on Asian family businesses on offices. A partial list of his speeches is below.

  • “Asian Family Offices,” SALT Asia Conference, Singapore, 2013
  • “Family Business Governance”, Chinese Academy of Social Sciences, Beijing, 2013
  • “Risks and Opportunities of Controlling Ownership,” OECD’s Roundtable on Asian Corporate Governance, Kuala Lumpur, 2013
  • “Corporate Governance in Family Owned Companies”, Taiwan Corporate Governance Association’s Annual Conference, Taipei, 2012
  • “Managing Talent in Family Owned Companies”, Singapore Human Capital  Summit, Singapore, 2012
  • “Effective Corporate Governance at Family Controlled Companies”, Singapore Institute of Directors’ Effective Board Leadership Programme, Singapore, 2012
  • Perspectives on Law and Lawyers in a Multinational World,” Family Firm Institute’s Annual Conference, Boston, 2011 Law_and_Lawy.pdf
  • “Family Governance,” Asian Corporate Governance Association Annual Conference, Taipei, 2010
  • “Asian Family Offices”, Family Office Exchange’s 20th Annual Forum, Chicago, 2009
  • “The Porfolio Company’s View : Private Equity Investment in Family-Owned Companies”, ICBI 8th Annual SuperInvestor Conference, Paris, 2008 
  • “How to Ride the Tidal Waves of Generational Transition and Growth in Asia”, Family Firm Institute 20th Annual Conference, London, 2008
  • “Asian Family Offices – Key Challenges: Factors, What, Why, Goals”, Terrapinn Private Banking Asia 2008 Forum, Singapore, 2008
  • “Inspiring Tomorrow’s Leaders Today: Preparing the Next Generation”, Campden Families in Business Conference, Mumbai, 2006
  • Responsible Ownership – “Cultural Differences between the Asian Family Business Model and Silicon Valley: Sustainability by Combining Best of Both”, Family Business Network 16th Annual Summit, Brussels, 2005
  • “Joining the Asian Family Firm after Growing Up & Working in the USA”, Loedstar Family Business Forum, London, 2005
  • Asia: Leading Change & Driving Growth “Facing the Challenge: Strategic Value Creation in Asia – A Family Business’s Perspective”, Wharton Asia Business Conference, Philadelphia, 2004
  • Strategies for Profitability & Continuity – “Overview of Prospects & Challenges of Asian Family Businesses in the Era of Globalization”, Asia Society, New York, 2003


Chair Emeritus
Linda Tsao Yang
Ambassador - Asian Corporate Governance Association

Ambassador Yang retired from the Asian Corporate Governance Association (ACGA) in November 2014 after serving as Chair from 2001 to 2014. It is a non-profit, member-supported organisation chartered under the laws of Hong Kong to conduct research, education activities, and advocacy to improve corporate governance practices in Asian capital markets. During her 13-year tenure, global membership of ACGA grew to over 100. Among its members are major sovereign wealth and public pension funds. Assets under management by ACGA's institutional investor members exceed US$25 trillion.

She served as the US Ambassador and Executive Director to the Board of Directors of The Asian Development Bank from 1993 to 1999. She was the first woman appointed by the United States Government to the board of a multilateral financial institution and the first Executive Director appointed by President Clinton and confirmed by the US Senate.

At her retirement in December 1999, US Treasury awarded her the Distinguished Service Medal of the department. The award citation stated, “She has made a significant contribution to the advancement of US policy objectives at the Bank. She also spearheaded the adoption of important new Bank policies on reduction of poverty, good governance, anti-corruption, disclosure of information, and collaboration with non-governmental organizations, among many others. Ambassador Yang has also been one of the main forces behind the strengthening of the Bank's private sector operations and she has led the effort to put in place a Bank-wide approach to private sector development. Ambassador Yang played a key role in defining the Bank’s participation in the international response to the Asian economic crisis, including pushing for early and expanded attention to social impacts and social development. She has provided strong fiduciary and operational oversight of Bank operations and has worked to make the Bank more transparent and accountable.”

Ambassador Yang was an independent non-executive director on the board of the Bank of China (Hong Kong) 2003-2010. The Founding Chair of Strategy and Budget Committee of the board, she led the preparation of the first and second 5-year growth and development plans for the bank. In 2008, Hong Kong Institute of Directors honored her with its Director of the Year Award (Hang Seng Index -Independent Non-Executive Director), and she was awarded Honorary Citizen of Shanghai in September 2016.

She was the first woman to serve as California's Savings and Loan Commissioner and the first minority appointed to the Board of Administration of the California Public Employees’ Retirement System (CalPERS) where she served as Vice-President and Vice-Chairman of its Investment Committee. She was an invited panelist on international economy at the Economic Summit hosted by then President-Elect Bill Clinton in December 1992 in Little Rock, Arkansas.

Ambassador Yang is a member of the International Council of the Bretton Woods Committee in Washington DC, the Council on Foreign Relations in New York, and an advisory board member of the Center on Asia Pacific Policy, RAND Corporation in Santa Monica, California. She co-chairs the Chang-Lin Tien Committee of The Asia Foundation in San Francisco. She serves as Co-chair of the Membership Committee of The Committee of 100, a non-profit, national organisation of Chinese Americans dedicated to promoting constructive, mutually beneficial relations between the United States and China and full participation of Chinese Americans in all aspects of life in the United States.

She was a delegate to the Democratic National Convention in 1984, 1988, and 1992 and a member of the Fairness Commission of the Democratic National Committee in Washington DC, A graduate of St John’s University in Shanghai and Columbia Business School in New York, Ambassador Yang was married to the late Professor An Tzu Yang of the University of California in Davis, California. She is the mother of two sons.

Advisory Board
Edmund Sze Wing Tse, GBS
Non-executive Chairman and a Non-executive Director of AIA Group Limited

Mr Tse is the Non-Executive Chairman and a Non-Executive Director of AIA Group Limited. From 1996 until June 2009, Mr Tse was a Director of American International Group, Inc. (AIG) and from 2001 until June 2009, he was Senior Vice Chairman – Life Insurance of AIG. From 2000 until June 2009, he was also Chairman and Chief Executive Officer of American International Assurance Company, Limited. Mr Tse has held various senior positions and directorships in other AIG companies. He is a Non-Executive Director of PCCW Limited. Mr Tse is also the Non-Executive Chairman of PineBridge Investments Asia Limited and a Director of Bridge Holdings Company Limited.

Mr Tse was awarded the Gold Bauhinia Star (GBS) by the Government of the Hong Kong Special Administrative Region (HKSAR) in 2001 in recognition of his outstanding efforts in respect of the development of Hong Kong’s insurance industry. Mr Tse graduated with a Bachelor of Arts degree in Mathematics from The University of Hong Kong (HKU) in 1960. HKU conferred an Honorary Fellowship and an Honorary Doctorate Degree in Social Sciences on Mr Tse in 1998 and 2002, respectively. He also obtained diplomas from the College of Insurance and the Graduate School of Business of Stanford University. He has extensive management experience in the insurance market, both in Asia and globally. In 2003, Mr Tse was elected to the Insurance Hall of Fame, a highly prestigious award in the global insurance industry.

Advisory Board
Marjorie Yang
Chairman of Esquel Group

Marjorie Yang is Chairman of Esquel Group, a leading Hong Kong-based textile and apparel manufacturer with operations throughout the world.

Marjorie has a Bachelor of Science degree from Massachusetts Institute of Technology and an MBA from Harvard Business School.

Marjorie has been a Member of the National Committee of the Chinese People’s Political Consultative Conference since 2003. She also serves as Deputy Chairman of the Seoul International Business Advisory Council (SIBAC), with the purpose of providing advice to the Mayor of Seoul.

Marjorie is dedicated to promoting education and innovative technologies, she is the Co-chairman of the advisory board of CSAIL (Computer Science and Artificial Intelligence Lab) at MIT. She is also the Chairperson of the Steering Committee of the Coding and Computational Thinking Education at The Hong Kong Jockey Club Charities Trust. She also serves as Member of various advisory boards including Harvard University, Harvard Business School, MIT Sloan and Tsinghua University’s School of Economics and Management. She has been the Chairman of the Council of the Hong Kong Polytechnic University for six years till year 2015.

Marjorie is a strong believer in sustainable development and environmental conservation and holds membership in the Advisory Council of Natural Resources Defense Council in China.

Marjorie is an Independent Non-executive Director for both The Hongkong and Shanghai Banking Corporation Limited and Swire Pacific Limited.