Pei-yuan Chia
Pei-yuan Chia | |
|---|---|
| Born | 1939 Hong Kong |
| Occupation | Banking executive |
| Years active | 1974–1996 (Citicorp) |
| Known for | Vice chairman of Citicorp; highest-ranking Asian American executive in major U.S. corporation at retirement |
Pei-yuan Chia (; born 1939) is an American banking executive who served at Citicorp from 1974 until his retirement in 1996, and also held board positions in various organizations.
Career
Chia's professional journey started at General Foods before he joined Citicorp in 1974. From that point until 1992, he occupied senior leadership roles at both Citicorp and Citibank, N.A., acting as the principal liaison for corporate banking activities across Asia. In 1992, he advanced to lead Citicorp's worldwide consumer business, having expanded the international consumer banking segment by 25% annually, reaching $300 million in profits. He was appointed to the boards of Citicorp and Citibank, N.A. in April 1993 and elevated to vice chairman in January 1994. Encouraged by CEO John S. Reed, Chia opted for early retirement in 1996. At that time, he was recognized as the highest-ranking Asian American executive and board member within any major U.S. corporation.
Personal life
Chia was born in Hong Kong. His father, Dewey Teh-huai Chia (; 1912–1998), was a notable figure in Shanghai's financial sector and the second son of an official from the Republic of China Ministry of Finance. His mother, Kitty Shun-hua Chin Chia (; 1916–2016), daughter of an educator, graduated from Yenching University. The family relocated to Taiwan in 1951 before settling in the United States in 1956, where Dewey established a maritime shipping enterprise and Kitty worked as a statistician at the United Nations Secretariat. Chia completed his studies in Taiwan, earning a Bachelor of Arts degree in Economics from Tunghai University in 1961, followed by an MBA from the Wharton School of the University of Pennsylvania in 1964. He became a naturalized American citizen in 1970.
In 1965, Chia married Frances T.C. Yen Chia (), daughter of former President of the Republic of China Yen Chia-kan. They had three children: Douglas, who pursued law; Katherine, an architect; and Candice. Frances passed away in 2003. Two years later, in 2005, Chia wed his high school sweetheart Katherine "Kitty" Shen ().
To commemorate Frances, Chia funded a garden at Tunghai University’s women's dormitory, inaugurated in November 2006, and established the Frances and Pei-Yuan Chia Professorship in Marketing at the University of Pennsylvania, a position held by Peter Fader since 2003. In recognition of his contributions, Tunghai University awarded him an honorary doctorate in 2007.
Other activities
Chia has been a member of the Wharton Graduate Executive Board at the University of Pennsylvania and holds the title of Senior Fellow at the SEI Center for Advanced Studies in Management within the Wharton Business School. As chairman of the Chia Family Foundation, he directs philanthropic initiatives focused on education and healthcare, including support for the Hoag Hospital Foundation. In June 2022, Hoag honored Chia and his wife Shen by naming a hospital building in Irvine, California after them to recognize their generosity.
His experience with corporate governance encompasses:
- Director at American International Group until 2006
- Trustee roles at both the Asia Society and Mt. Sinai-NYU Medical Centre
- Director positions with Aig Aviation
- Board member for BOC Hong Kong Holdings Ltd. and its primary subsidiary Bank of China (Hong Kong) Ltd. from 2001 to 2003
- Director at Baxter International
- Serving on the board of Case Corporation since 1997
- Director role at CNH Global
- Board member of Singapore Airlines since 2003
- Senior advisory position with Temasek Holdings
External links
- Image featuring Victor Menezes at the Museum of Chinese in America
- Photograph showing second spouse Kitty Shen at the Museum of Chinese in America