CDIB Capital Group Appoints Mr. Angelo J.Y. Koo as Chairman to Lead Global Asset Management Business
TAIPEI, TAIWAN--(Business Wire / Korea Newswire) October 21, 2019 -- China Development Financial (“CDF”, TWSE: 2883) announced in 2H19 investor conference that its subsidiary CDIB Capital Group (“CDIB”) has achieved NT$41.1bn in AUM of its private equity funds at end-September, successfully transforming its proprietary investment business into an asset management model. Recently, the CDIB Board has appointed Mr. Angelo J.Y. Koo as Chairman to lead CDIB towards a global asset management brand.
CDIB has been focused on expanding global investment portfolio, the newly launched “CDIB Intelligence Partners Fund” as an example. On a projected scale of up to US$75mn, the fund is actively seeking institutional investors in telecom, retail, technology and financial service sectors, targeting at global AI-related investment opportunities.
Effective since October 1st, the CDIB Board has appointed Mr. Angelo J.Y. Koo as Chairman succeeding Mr. Chia-Juch Chang, who remains as the Chairman of CDF. Prior to his appointment, Mr. Koo held the roles of President and CEO of CDF, and Chairman of China Development Industrial Bank (predecessor of CDIB) from 2004 to 2009. Mr. Koo is currently Chairman of the CDIB Education and Cultural Affairs Foundation.
CDIB will be leveraging Mr. Koo’s global investment network and industry insights to lead CDIB’s continuous expansion. Besides, the company will also benefit from his philanthropic experience to further shoulder CDF’s corporate social responsibilities.
Since its inception in 1959, CDIB has played a critical role in funding Taiwan’s economic development by investing in various industries, including textile, petrochemical, electronics, semiconductors as well as in the consumer, and healthcare sectors. Through its investment activities, CDIB has been a pioneer in Taiwan’s venture capital and has established itself as an important contributor to Taiwan’s economic transition and industrial upgrade.
About CDIB Capital Group
CDIB Capital Group is the first private development-oriented financial institution in Taiwan. In its 60 years of history, CDIB has focused on principal investments and corporate banking activities. In recent years, CDIB has broadened its investment activities by managing third party capital from a wide range of sources including high-net-worth individuals, family offices, sovereign wealth funds, pension funds, funds of private-equity funds, insurance companies and banking institutions located around the world.
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China Development Financial
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