ABA General Meeting Kicks Off in Taipei with Over 20 Nations' Financial Leaders Unite to Discuss Sustainable Future Transition

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TAIPEI, Taiwan–(BUSINESS WIRE)–Nov. 21, 2024

More than 250 representatives from over 20 countries, including central banks, financial institutes, enterprises and international organizations, gathered in Taipei for the 40th Asian Bankers Association (ABA) General Meeting and Conference. The event, titled “Asian Banks: Transitioning Toward a Sustainable Future,” was held from November 18 to 19 at the Grand Hyatt Taipei. Attending the opening ceremony were Taiwan’s Minister of Economic Affairs, Kuo Jyh-Huei, and Financial Supervisory Commission Chairman, Peng Jin-lung, who delivered speeches and offered insights into sustainable development in the financial and technology sectors of the Asia-Pacific region.

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The 40th ABA General Meeting and Conference held its opening ceremony on Nov. 18 at the Grand Hyatt Taipei. Over 250 financial leaders from more than 20 countries gathered in Taipei. Notable attendees included Minister of Economic Affairs, Kuo Jyh-Huei (center), Financial Supervisory Commission Chairman, Peng Jin-lung (sixth from left), and ABA chairman and CTBC Financial Holding Vice Chairman Daniel Wu (sixth from right). (Photo courtesy of the Asian Bankers Association)

Founder of CTBC Financial Holding, Jeffrey Koo Sr., established the ABA 43 years ago to address Taiwan’s international challenges, creating a pathway for private-sector economic and trade diplomacy. This milestone was also a significant advancement toward financial integration within the Asia-Pacific region. Over the years, the ABA has organized its annual meetings in major cities of its member countries to promote regional economic cooperation and business exchanges. Taipei previously hosted meetings in 1981, 1998, 2006, 2010, and 2015. This year marks the sixth time the event was held in Taiwan, highlighting CTBC Bank’s influence and leadership in the region. Not only were key representatives of the international financial industry in attendance, but also envoys from ABA member countries stationed in Taiwan, including Lee Eun-ho, Representative of the Korean Mission in Taipei; Yip Wei Kiat, Representative of the Singapore Trade Office in Taipei; and Vu Tien Dung, Representative of the Vietnam Economic and Culture Office in Taipei.

ABA chairman and CTBC Financial Holding Vice Chairman Daniel Wu highlighted the significant challenges the banking industry faces in its digital transformation journey. As customer expectations, operational models, and digital technologies continue to evolve, banks are shifting from traditional operations to customer experience-driven digital services. Wu expressed his confidence in ABA’s role as a global platform to support member countries in navigating these challenges, helping banks achieve successful digital transformation and ensure long-term sustainability.

The conference featured a fireside chat between Thomas Nides, who is the Vice Chairman of Blackstone Inc. and served as the U.S. Ambassador to Israel from 2021 to 2023, and Daniel Wu. Drawing on his extensive career, including senior roles at Morgan Stanley and as Deputy Secretary of State under President Obama, Nides highlighted opportunities and challenges unique to Asia in the post-pandemic era. Additionally, he provided suggestions for how the banking sector can stay competitive and sustainable amid geopolitical changes.

On the first day of the conference, CTBC Financial Holding President Rachael Kao moderated a forum featuring a discussion with Bank SinoPac Chairman Philip Tsao and KPMG Sustainability Consulting Co., Ltd. Managing Director Niven Huang, discussing issues related to fostering sustainability across industries. Furthermore, Pia Bernadette Roman Tayag, Assistant Governor of the Central Bank of the Philippines, joined CTBC Financial Chief Technology Officer Titan Chia, and Friedman Wang, Head of the Digital Technology Division at CTBC Bank, to examine the topics of “Technology-Driven Banking Transformation” and “Refocusing on Customers and Society,” tackling the technologies and challenges involved in digital transformation within the banking sector.

On the second day, Richard Koo, chief economist at Nomura Research Institute provided an analysis of the financial and economic dynamics of the U.S., Japan, and China. CTBC Bank president Tony Yang, Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer for Rizal Commercial Banking Corporation, Atsushi Masuda, Chairman of the Association of Credit Rating Agency in Asia, and Vinayak HV, senior partner at McKinsey & Co, discussed the transformation of the banking industry. The 40th ABA General Meeting and Conference, co-hosted by CTBC Bank, the Bankers Association of the Republic of China, and the ABA, focused on the dual transformation of financial technology and sustainability. Through fireside chats, financial expert forums, interactive discussions, and advisory committee sessions, participants exchanged first-hand insights and collaboratively generated business strategies.

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