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Board of Directors

  • Experience
  • Chairman, China Development Financial Holding Corporation
  • Chairman, CDIB Capital Group
  • Education
  • PhD, Purdue University, U.S.A.
Chia-Juch Chang has been Chairman of China Development Financial Holding Corporation (CDF) since May 16, 2016. Prior to these positions, he was Vice Chairman, Standing Committee Director of CDF and Chairman of China Development Industrial Bank (CDIB) , during which the M&A of KGI Bank (formerly Cosmos Bank) was completed and the corporate banking and financial market operations of CDIB were transferred to KGI Bank, upgrading KGI Bank’s financial product and service synergies, as well as expanding its multi-marketing strategies. In addition, CDIB was reformed and renamed CDIB Capital Group, which, aside from the existing venture capital and direct investment businesses, also develops and manages the private equity fund business, resulting in the company becoming a leader in the global private equity investment and asset management markets. Afterwards, Chia-Juch planned the public acquisition of China Life, giving CDF the four engines of life insurance, commercial banking, securities, and venture capital/private equity, and laying a solid foundation for future development.

Chia-Juch is highly experienced within the industry, government, academic and research areas. In early years, he was National Chiao Tung University Professor and National Taiwan University Professor, as well as Dean of these two universities’ graduate schools. He was also Head of Institute of Transportation, Ministry of Transportation and Communications (MOTC), and was promoted to be MOTC’s Administrative Vice Minister in 1995-2005. After retiring from government positions, he was recruited as President of Chung Hua University. Afterwards, he became Chairman of China Steel Corporation, and later Chairman of China Airlines, both TWSE-listed companies, in charge of the operation and management of large state-controlled enterprises. In 2013-14, Mr. Chang was the 30th Minister of the Republic of China’s Ministry of Economic Affairs.

Chia-Juch graduated from Department of Civil Engineering, National Cheng Kung University, holds a master’s degree in engineering from San José State University, California, U.S.A. and earned his Ph.D. degree from Purdue University, U.S.A. He was awarded Fellow by International Institute of Transportation Engineers, Road Engineering Association of Asia and Australia, and Chinese Institute of Civil and Hydraulic Engineers.
  • Experience
  • Senior Executive Vice President, China Development Financial Holding Corporation
  • Chairman, China Life
  • Education
  • Master in Finance, National Taiwan University
Yu-Ling Kuo is the Senior Executive Vice President of CDF and the Chairman of China Life. Since joining China Life in early 2003, she has participated in such M&A deals as those of the Taiwan branch of Winterthur Life and the main assets and operations of PCA Life Assurance in Taiwan, turning China Life into the fifth largest life insurance company in Taiwan. Her insistence on risk control helped China Life weather out the 2008 financial crisis and come out of the subprime mortgage storm largely unscathed. She used to be the Deputy CIO (Chief Investment Officer) of Ping An Insurance (Group) Company of China and the Vice President of Nan Shan Life Insurance.

Yu-Ling holds a master’s degree in Finance from National Taiwan University.
  • Experience
  • President, CDIB Capital International Corporation
  • Education
  • BS in Finance and Entrepreneurship, HEC Paris
  • MBA, the Wharton School of the University of Pennsylvania
Lionel de Saint-Exupéry is a board member of CDF and CDIB Capital Group (CDIB, formerly known as China Development Industrial Bank). He is also Co-CEO and Chairman of the Investment Committee of CDIB, as well as President and Co-CEO of CDIB Capital International, which Lionel established in its present form in 2006. Prior to CDIB Capital, Lionel was a senior banker in the investment banking division of Lehman Brothers, based in New York and London. During his investment banking career, Lionel worked on more than US$45 billion worth of public and private transactions in Mergers and Acquisitions as well as Equity and Debt Capital Markets. During those years, he advised leading private equity firms across a variety of leveraged buyouts, trade sales and IPO transactions. His experience spans across a broad range of sectors such as consumer, media, technology, financial services and industrial throughout North America, Europe and Asia. Prior to Lehman Brothers, Lionel was a member of the Global M&A practice of Booz-Allen & Hamilton. In addition to CDF and CDIB Capital Group, Lionel sits on the Board of Directors of a number of the Group's subsidiaries as well as some of the Group's 250+ portfolio companies. He is a Trustee of the Saint-Exupéry Youth Foundation and an active Member of the Pan-Asia Chapter of the Young President Organization (“YPO”).

Lionel holds an MBA with Distinction from the Wharton School of the University of Pennsylvania and a BS in Finance & Entrepreneurship from France's HEC School of Management.
  • Experience
  • Executive Vice President, China Development Financial Holding Corporation
  • President, Grand Cathay Securities Corporation
  • Education
  • MBA, University of Montana, U.S.A.
Jeff Wang serves as a Director on the Boards of China Development Financial (CDF) and KGI Securities. With over thirty years of experience in the securities and investment trust industries, Jeff boasts broad-based expertise in the areas of channel management and mutual funds asset management. During KGI Securities’ early years, Jeff was head of Asia-Pacific regional brokerage, overseeing operations in Hong Kong, Thailand and Korea. He later became President of Grand Cathay Securities and Executive Vice President overseeing CDF’s Wealth Management business unit.

Jeff Wang oversaw the founding of Taiwan’s President Securities Corporation, along with its affiliate of total nine other brokerage firms, in addition to Uni-President Asset Management Corp. President Securities became the first brokerage in the industry to facilitate a mechanism claiming rebates from settlement banks, a practice that eventually became a key source of revenue for brokerages. Jeff also led a major marketing campaign for President Securities, giving away free PCs to qualified new customers. The campaign helped the company quickly build up market share. Moreover, while under Jeff’s leadership, Uni-President Asset Management Corp. beat other new domestic Securities Investment Trust Enterprises to the punch in successfully filing for an IPO.

During his tenure at Yuanta Securities and Yuanta Securities Investment Trust, the trailblazing Jeff Wang was once again ahead of the pack in marketing the novel concept of ‘fixed-term fixed-amount investments’ as an approach to investing in mutual funds. At the time, this resulted in Yuanta registering a record number of new trading accounts.

Jeff Wang completed his undergraduate studies at Tunghai University with a BA in Accounting, before earning an MBA degree from the University of Montana.
  • Experience
  • Attorney-at-law & Partner, Zhong Yin Law Firm
  • Education
  • National Taiwan University, LL.M
  • National Chengchi University, EMBA
Shan-Jung Yu, attorney-at-law, is a board member of both China Development Financial and CDIB Capital Group.

Shan-Jung has been practicing law in Taiwan since 2004, providing legal support for large publicly-listed companies as well as small- and medium-sized enterprises. She was a partner at Zhong Yin Law Firm. Well versed in mergers and acquisitions (M&A) and legal disputes associated with such transactions, she has participated in multiple Taiwanese M&A projects. She has extensive experience in the M&A field, covering the tech and non-tech sectors, as well as public infrastructure projects.

Shan-Jung has also dealt with disputes regarding proxy fights, shareholder meetings and board meetings of listed firms. Before joining Zhong Yin, she worked at Jones Day Law Firm partaking in M&A cases, such as the Micron-Qimonda deal, and representing domestic and foreign companies in litigation to handle major public infrastructure disputes.

Shan-Jung also worked at Yuanta Financial Holding, where she was in charge of matters relating to M&A activity, the Banking Act and commercial laws.

Shan-Jung received an LLM from National Taiwan University, MBA from National Chengchi University and B.A. from National Chengchi University, where she was a law and English literature double major.
  • Experience
  • Partner & CEO of Greater China, KKR Asia Limited
  • President & Chief Executive Officer, China Development Financial Holding Corporation
  • President & Chief Executive Officer, China Development Industrial Bank
  • Education
  • MBA, Harvard University, U.S.A.
Paul Yang is a non-executive board member of CDF and CDIB Capital Group. He joined Kohlberg Kravis Roberts (“KKR”) as a Partner and CEO of Greater China in 2017. Prior to KKR, Paul was President and CEO of CDF and CDIB, as well as the Chairman of CDIB Capital International. Prior to CDF, Paul served as Managing Director at Development Bank of Singapore where he was responsible for DBS Bank’s private equity business across Asia. Prior to DBS, Paul was Managing Director of ICG Asia. Prior to that, he was with the Principal Investment Area of Goldman Sachs based in New York and Hong Kong. He also served at General Atlantic Partners and at the Boston Consulting Group.

Paul holds an MBA from the Harvard Business School and MS and BS degrees in Mechanical Engineering from the Massachusetts Institute of Technology.
  • Experience
  • Associate Professor, Department of Business Administration, SooChow University
  • Education
  • Postdoctoral Researcher, Graduate Institute of Environmental Resources Engineering, State University of New York, U.S.A.
  • PhD, National Taiwan University
Tyzz-Jiun Duh is an Iindependent Director of China Development Financial, CDIB Capital Group, USI Corporation, and Macronix International Co. Ltd.

Tyzz-Jiun has a wealth of experience in policy making that few can compare, especially in the realm of industrial development policy. Prior to his current positions, Tyzz-Jiun served in many important government posts such as Director General of the Department of Commerce, Director General of the Industrial Development Bureau, Minister of Ministry of Economic Affairs (MOEA), Minister of National Development Council, and Vice Premier of the Executive Yuan. He was also Chairman of the Management Committee of Yao-Hwa Glass Co., Ltd, a policy investment identity of MOEA, and Chairman of the National Development Fund, Executive Yuan, where he led teams of investment professionals responsible for managing portfolios to serve the country’s industrial development needs.

Tyzz-Jiun holds a BS, MS and PhD in forestry from National Taiwan University (NTU). He completed his postdoctoral research at the Department of Environmental Resources Engineering, State University of New York in 1993. Since 2003, Tyzz-Jiun has been a part-time associate professor of the Graduate Institute of Business Administration at Soochow University.
  • Experience
  • Partner, Ernst & Young
  • Education
  • MA, Department of Finance, National Taiwan University
Hsing-Cheng Tai is the Independent Director of China Development Financial and of its subsidiary KGI Securities Co. Ltd.

Hsing-Cheng was a Partner of Ernst & Young and Convener for its banking services, a Director of CPA Association and of Institute of Internal Auditors.

Hsing-Cheng concurrently serves as the Independent Director of Tripod Technology Corporation and of Hotel Royal Chihpen.

Hsing-Cheng holds a Bachelor’s degree from Department of Accountancy, National Cheng Kung University and a Master’s degree in Finance from National Taiwan University.
  • Experience
  • Professor, Department of International Business, National Taiwan University
  • Education
  • PhD, Stanford University, U.S.A,
Hsiou-Wei Lin is the Independent Director of China Development Financial (CDF). Mr. Lin holds a BBA from National Taiwan University, an MBA in Finance from New York University, and a Ph.D. in Business from Stanford University. Mr. Lin was an independent director to Cosmos Bank, a board member of Bank of Overseas Chinese, an independent director to MStar Semiconductor, an independent supervisor to GO-IN Engineering, a member of the mid-/long-term capital committee of National Development Council, a Commissioner of the National Financial Stabilization Fund, a supervisor to the Civil Servant and Teacher Insurance, and a committee member for the Civil Service Pension Fund.Mr. Lin is currently a full-time professor at the Department of International Business of National Taiwan University, an advisory committee member to the Accounting and Finance Field of the Ministry of Science and Technology, the Chief Editor of the Journal of Accounting Review, a topic editor to NTU Management Review, and a topic editor to Review of Securities and Futures Markets. Mr. Lin was also the General Convener of the Accounting and Finance Field Committee of the Ministry of Science and Technology, the Distinguished Professor and Dean of the Department of International Business and National Taiwan University, the Distinguished Professor and Dean of the Management College of Tunghai University, the Deputy Convener of the Global Committee of Taiwan Financial Services Roundtable of R.O.C., and the Chairman of the Banking Education Association of Taiwan.