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Dominic Ng


Dominic Ng


Dominic Ng is an American banker. He has served as president and CEO of Los Angeles–based East West Bank since 1992, and chairman and CEO since 1998, transforming it into a full-service banking company. In 2022, Ng was appointed by the Biden administration to be a U.S. member of the Asia-Pacific Economic Cooperation Business Advisory Council, serving as chair in 2023.

Early life and education

Ng was born in the then British Hong Kong in 1959, the youngest of six children. His parents had lost most of their property after the Chinese Civil War and fled from Shanghai to Hong Kong in 1949. In Hong Kong, his father operated a bus transport business, while his mother ran a small business sewing school uniforms.

Ng was part of a wave of Hong Kong students who came to the United States to study in the 1970s, and earned a bachelor's degree in accounting from the University of Houston. He became a United States citizen in 1988.

Career

Ng began his career as a Certified Public Accountant with Touche Ross in Houston and Los Angeles. He was the head of the China business practice in the Los Angeles office. One of his clients convinced him to head up its investment company, Seyen Investment Inc., in 1990. He helped Seyen purchase East West Bank.

In 1992, Ng became East West Bank's third president and CEO. He transformed East West Bank into a full-service banking company with dozens of branches in the United States. In 1997, Ng engineered East West Bank's sale in a management-led buyout. He became the bank's chairman that same year. The bank went public in 1999.

As CEO of East West Bank, Ng built a reputation for diversifying the bank's portfolio, including entertainment. The Hollywood Reporter named him as one of the top U.S. bankers connecting Hollywood film studios to investors in China, helping to arrange fundraising once investment deals are in place. He is also involved in real estate, renewable energy, and other sectors. From 2005 to 2011, Ng served on the board of directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch.

Asia-Pacific Economic Cooperation Business Advisory Council

In 2022, Ng was appointed by the Biden administration to be a U.S. member of the Asia-Pacific Economic Cooperation Business Advisory Council, and later that year was announced to chair the 2023 APEC summit to be hosted by the U.S. His specific focus included climate change and technology.

Ng's appointment attracted scrutiny from several Republican lawmakers over his connections to China-based organizations. Members of the Congressional Asian Pacific American Caucus characterized the scrutiny as racist in nature.

During APEC United States 2023, Ng and San Francisco Mayor London Breed hosted a private welcome reception for the APEC Business Advisory Council.

Advocacy and community involvement

Ng has advocated for and sponsored the showcasing of East Asian culture and art by major U.S. institutions, including the Los Angeles County Museum of Art, Museum of Contemporary Art, Los Angeles, Huntington Library, Bowers Museum, and USC Pacific Asia Museum. He serves on the board of the Academy Museum of Motion Pictures. Columbia University's Weatherhead East Asian Institute recognized Ng with its 75th Anniversary Award for Excellence in February 2024.

From 2011 to 2014, Ng served as chairman of the Committee of 100. He has been a board member of the United Way of Greater Los Angeles since 1995, becoming the first Asian-American chair of the United Way campaign in 2000–2001. Ng is also a member of the University of Southern California’s Board of Trustees.

References

Collection James Bond 007


Text submitted to CC-BY-SA license. Source: Dominic Ng by Wikipedia (Historical)