Tsai Hong-Tu
Chairman, Cathay Financial Holding Co., Ltd.
BUSINESS LEADER INTRODUCTION
Chairman Tsai often encourages employees to have “Integrity, Accountability, and Innovation” and emphasizes corporate governance and commitment, creating a stable force that drives the development of Taiwan’s financial industry and social progress. Chairman Tsai is highly respected and has served as a representative of Taiwan in the APEC Business Advisory Council (ABAC) for many years. Chairman Tsai has been recognized for his leadership and management with the Asian Corporate Director Recognition Award from Corporate Governance Asia for two consecutive years in 2020-2021. Under the leadership of Chairman Tsai, Cathay’s asset scale has reached NTD11 trillion, and it provides products and services to 30% and above of the population in Taiwan through high-quality professional services. Cathay and its subsidiaries generate stable profits and have received numerous awards in Taiwan and overseas. It is one of the most popular brands in Taiwan.
ACHIEVEMENT AND IMPACT
Cathay established a CSR Committee as early as 2011, and has become aligned with the international sustainable finance framework through three engines “insurance, banking, and asset management.” Cathay used “climate, health, and empowerment” as the three focus areas for developing Cathay’s sustainability strategy in 2020 and is actively promoting the sustainable development of Cathay and its important stakeholders.Under the leadership of Chairman Tsai, Cathay has been selected as a constituent stock of the Dow Jones Sustainability Index (DJSI) for 7 consecutive years, as well as FTSE4GOOD and FTSE4Good TIP Taiwan ESG Index for numerous years. Since 2014, Cathay has actively engaged in responsible investment and low carbon transformation and has already joined RE 100, committing to net zero emissions by 2050. Cathay has also utilized its financial influence for the active engagement of stakeholders for low carbon transformation. Cathay has achieved excellent performance in ESG, responsible investment, and climate actions, and was selected as one of the top 10 best practice examples and honored as the leader of Asia investment organizations by the Investor Agenda in 2022. Chairman Tsai believes that a company must take care of its customers, employees, and shareholders, and also attach importance to society and the environment to achieve long-term development. 2022 marks Cathay’s 60th anniversary, and Chairman Tsai expects employees to uphold the spirit of “What If We Could,” and make “technological innovation” and “corporate sustainability ESG” the two cores of their DNA so that Cathay can continue to develop into the leading financial institution in Asia over the next 60 years.
Chairman Hong-Tu Tsai attaches great importance to sustainable development
and strives to develop Cathay Financial Holding Co., Ltd. (Cathay) into a
company with excellent sustainability performance and profitability. Over
the past 40 years, Cathay has gained the industry’s respect for its business
management performance, and its sustainability measures have gained
recognition from organizations in Taiwan and overseas. Cathay has maintained
steady growth despite the challenges brought by severe market fluctuations,
such as the Asian Financial Crisis in 1997, the Financial Tsunami in 2008, and
the recent Covid-19 pandemic. Cathay has bravely engaged in innovation as
times changed and constantly adjusted the pace of its operations, gradually
growing into the largest financial holding corporation in Taiwan in terms of asset
scale. At present, Cathay’s total assets have surpassed NTD11 trillion, and one
out of every two people in Taiwan is a customer of Cathay. Cathay upholds the
philosophy of “Sustainable Cathay; Contributing to the Community,” fulfills its
corporate social responsibility, enhances its competitiveness in sustainability,
and continues to develop toward the vision of becoming the leading financial
institution in the Asia-Pacific region.
