Eugene Wu
Eugene Wu | |
|---|---|
| Born | 1945 Taiwan |
| Occupation(s) | Corporate leader, businessman |
| Years active | 1986–2020 |
| Known for | Managing the Shin Kong Group and related subsidiaries |
Eugene Wu (; born 1945) is a Taiwanese corporate leader who managed the Shin Kong Group along with various related subsidiaries.
Early life
As the firstborn among six siblings to and Wu Kuei-lan, Eugene Wu counts notable family members such as Eric and Thomas among his brothers. His eldest sister is Wu Ju-yueh.[1] He completed his undergraduate studies at Waseda University.[2]
Career
After the passing of his father in 1986, Eugene Wu assumed leadership over several family enterprises.[3][4] Collaborating with construction tycoon James Lin, he facilitated the development of numerous buildings under the ownership of the Shin Kong Group.[5] In June 2002, Thomas Wu suggested a merger between his Taishin Financial Holdings and Eugene’s Shin Kong Financial Holding; however, this proposal was retracted within eight days.[6][7]
In August 2005, Eugene faced indictment on charges of insider trading connected to the unsuccessful merger attempt.[8][9] Subsequently, in October of that year, Shin Kong Financial merged with Macoto Bank to establish .[10][11]
The enactment of the Financial Holding Company Act in 2005 limited executives from simultaneously managing financial and non-financial companies,[12][13] leading Wu to pursue alliances with global financial institutions in 2006.[14] During that year, Shin Kong Financial Holding raised its ownership share in Shin Kong Bank,[15] and Wu explored potential acquisitions.[11][16]
Subsequently, Wu directed his attention toward property acquisition and disposition for , making significant investments in office buildings located in Neihu Science Park and London.[17] Amid debt challenges faced by Shin Kong Life, the group divested real estate assets within the Shin Kong Mitsukoshi joint venture, including prominent locations.[18]
In June 2020, Eugene Wu resigned from his position as chairman of Shin Kong Financial.[19] On 15 September 2020, the FSC suspended him from his role as chairman of Shin Kong Life Insurance due to imprudent investment decisions and inadequate oversight. The company incurred fines, and Wu was prohibited from returning to the board until his term concluded in June 2023.[20]
Personal life
Wu has shown endorsement for the role of China's economic engagement with Taiwan and took part in a 2004 conference hosted by the Taiwan Affairs Office of China. He has also served in executive positions within the Formosa Foundation as well as the General Association of Chinese Culture.
In 1992, Fortune estimated Wu's fortune at $1.8 billion. Over the years, he has been featured repeatedly on Forbes lists of Taiwanese billionaires: $1.9 billion in 2006, rising to $2.3 billion in 2008 (ranking eleventh), decreasing to $1.5 billion in 2010 (fourteenth place), recovering to $2.2 billion in 2011 (thirteenth), then falling to $1.1 billion in 2017 (forty-first), and reaching $1.2 billion in 2020 (thirty-seventh).
Wu is wed to Hsu Hsien-hsien, who is the daughter of banker and politician Hsu Sheng-fa, and together they have three children. Their eldest daughter, Cynthia Wu, married Tommy Lin, an executive at Hua Nan Securities, in 2010. Their second child is Wu Hsin-ju, and their youngest son is Wu Yi-tung.
In 1987, Wu purchased a gorilla that had been smuggled into Taiwan; the animal was later named Bao Bao and donated to the Taipei Zoo.
References
- ↑ "Investigators solve burglary of Hsin Kuan Group heir". Taipei Times. 2 April 2000.
- ↑ Bloomberg.
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{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 26 June 2002.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 5 July 2002.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 13–14 August 2005.
{{cite news}}: Missing or empty|title=(help)CS1 maint: date format (link) - ↑ Financial Times. 4 September 2005.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 4 October 2005.
{{cite news}}: Missing or empty|title=(help) - ↑ 11.0 11.1 Taipei Times. 6 October 2006.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 29 January 2005.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 23 February 2005.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 12 April 2006.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 15 July 2006.
{{cite news}}: Missing or empty|title=(help) - ↑ Taipei Times. 5 June 2007.
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- ↑ Taipei Times. 20 June 2020.
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