I Want To Be a Rich Man on Hong Kong Island

The run of Chinese-funded banks on Hong Kong Island in 1961 fully exposed the weakness of the Hong Kong government's non-intervention policy, which seriously lacked legal protection;

Because there is no legal constraint, the business methods of Liao Chongxing Bank are legal;

If measured by international banking practices, the bank's operations are obviously extremely irregular:

First, engaged in a large number of non-banking businesses, such as real estate speculation;

Secondly, the interest rate is much higher than the interest rate agreement of the trade union;

Finally, there is not enough liquidity reserved for day-to-day operations.

The Liao Chong Hing Bank incident caused the Hong Kong government to be criticized by all walks of life, especially the banking industry!

Therefore, in 1962, the Governor of Hong Kong, Robert Parker, invited Tomkins, a British banking law expert, to visit Hong Kong Island;

After many investigations and visits, Tomkins submitted the 'Tomkins' report.

Subsequently, the Hong Kong government revised the Banking Regulations and formally implemented them last year (November 1964).

The new regulations set specific and strict regulations on the definition of banking business and the obligations that banks should undertake;

For example: the minimum net assets of the bank shall not be less than 5 million Hong Kong dollars, and the ratio of liquidity shall not be less than 25%.

In the same year, the Hong Kong Island Bankers Association overcame many obstacles and completed a very meaningful event;

Members and non-members sit together and reach a deposit and loan interest rate agreement, which stipulates the highest deposit and loan interest rates;

This agreement, the bank also has to abide by!

The banking industry on Hong Kong Island has finally become a little more formalized. Of course, to become truly formalized, the three-tiered financial system in the 1980s had to be introduced.

Strange to say, every time there is a bank run on Hong Kong Island, the banks involved are all Chinese-funded banks;

In fact, there is also a reason for this. Large foreign-funded banks have always basically operated in accordance with international practices and industry agreements;

However, Chinese-funded banks were born out of bank accounts, either contaminated with the legacy of bank accounts, or unable to adapt to banking practices;

Some people even complained that the British stuck their necks.

This has also caused Hong Kong Island Bank to, in the future,

There are only three banks that really belong to Huazi Bank!

The rest either went bankrupt, or took refuge in large foreign banks!

.This is the so-called hard-won. The new regulations of the Hong Kong government and the agreement of the trade associations cannot fundamentally change the status quo, and the "bad habits" are even getting worse;

As far as Wu Guangyao knows, during the four years from 1961 to 1964, Chinese banks and banks lent a lot of money to real estate; what's more, they directly participated in it with depositors' money.

When there was a run on Liao Chong Hing Bank, these people gloated and never thought that bad luck would fall on them.

 …

Since the establishment of Wu Guangyao's personal advisory group, there are still only four people. They are:

Hollande, British nationality, legal consultant, well-known barrister in London, part-time barrister of Keira Law Firm.

Rong Bensheng, a management consultant and part-time president of Laofengxiang, has often gone abroad for further studies these years.

Jonas, an expert in mergers and acquisitions, a former executive of Ford Motor Company, has participated in many acquisition projects of Ford; over the years, Wu Guangyao's industries have basically acquired cases of mergers and acquisitions of other companies every one or two months, Jonas Si can be regarded as hard work.

Morse, financial consultant, executive of a famous American financial management company, doctor of finance; established a financial company in Hong Kong Island, the main shareholder is Wu Guangyao, and he is a minority shareholder; the business scope is a bit like the subsidiary of HSBC in later generations— ——Huodoli Finance Company, mainly a financial company that assists in acquisitions.

The four came to Wu Guangyao's office and sat together waiting for the boss to speak.

"I plan to open my own bank, and you guys help me to pay attention to talents in this field!" Wu Guangyao said.

The faces of the four of them immediately became pleasantly surprised, and they were all thinking in their hearts that the boss has opened up his mind!

It turned out that the four of them had a better understanding of all the industries under Wu Guangyao;

Everyone once agreed that BOSS should have its own bank;

Moreover, Hong Kong Island is a free trade port, which is very suitable for opening banks.

But for a long time, due to various reasons, the boss has never had this idea, so everyone is more helpless!

"Boss, I have a classmate who works at Citibank, and he is a promising mid-level manager. I can introduce him to work for you!" Morse said.

Wu Guangyao was taken aback for a moment, he didn't intend to recruit foreigners to manage his bank!

After a moment of contemplation, Wu Guangyao decided to hire a professional banker to manage his bank.

"Do you need me to come forward?"

"That's not necessary. With your strength, I only need to spend some words to persuade him!"

Morse is very confident in Wu Guangyao's charm, after all, Wu Guangyao owns too many world-renowned companies.

"Well, you tell him that even in a small Hong Kong Island, he can get out of a big bank!"

The four of them stand together, the boss is really qualified this time, everyone will not doubt that the boss is bragging, after all, the boss has proved himself with many facts!

Wu Guangyao's idea is to set up a new bank of his own, and then buy one or two banks in the upcoming bank run on Hong Kong Island, and directly incorporate these banks into his new bank;

Hang Seng Bank is mainly a holding company, and the specific management is still handed over to He Shanheng and others. After all, HSBC's conditions are like this!

 …

Shangri-La Hotel

Four old friends Wu Guangyao, Zhao Xi, Guan Yi, and Li Jia sat together, talking and laughing happily.

It has been 18 years since Wu Guangyao came to Hong Kong Island, and the four of them have known each other for 18 years. Now everyone has changed from young to middle-aged;

The social status of the four of them has also risen sharply over the years!

Putting Wu Guangyao aside, Guan Yi and Zhao Xi's net worth at this time is no worse than that of Li Chaoren, Li Zhaoji and others at this time!

However, the industry they are engaged in - trade, has already determined that they can only be middle-class rich men on Hong Kong Island in the future, so they can earn money from real estate business!

Li Jia has not left the loan project department of HSBC for many years, but he has finally been promoted to the top five important figures in the department.

Wu Guangyao invited everyone to this banquet for the purpose of getting together, and he also wanted to draw Li Jia to his bank.

Li Jia has good ability and has worked in HSBC for so many years. He is exactly the talent Wu Guangyao needs.

"Brother Li, I plan to set up a bank, and the position of loan manager is yours!" Wu Guangyao cut straight to the point.

Everyone was stunned, you have to ask Li Jia if he agrees or not!

But soon everyone understood that Li Jia had no shares in HSBC, and Wu Guangyao was stronger than HSBC, Li Jia had no reason to refuse!

"When will you go to work?" Li Jia was stunned for three seconds, and then said directly.

If Wu Guangyao asked this question 10 years ago, Li Jia felt he would hesitate;

The current big companies under Wu Guangyao are all world-renowned companies, and HSBC may not be able to compare with one of them;

Moreover, Wu Guangyao's status on Hong Kong Island, even the Governor of Hong Kong dare not mess with him, because the Chinese already regard him as a Chinese leader.

Wu Guangyao said: "You can go to work after handing over over there, but my bank is still in preparation!"

Li Jia said, "Okay! Would you like to tell Sandas!"

Li Jia knew that Wu Guangyao and Sandas were good friends and allies, so he said this!

"Well, it's time to talk to Sanders!"

In a few words, Li Jia's joining was confirmed!

The loan department is considered a relatively important department of the bank, but to Wu Guangyao, it is not so important;

There are three main reasons:

First, I know when those industries are booming and when the winter is cold, so that I can remind the people in the loan department to pay attention to the direction of choice.

Second, in Wu Guangyao's vision, his bank's biggest source of income is speculation in gold spot or futures, as well as oil futures; as long as the leverage is small, and Wu Guangyao knows the big market, I believe it will make a lot of money.

Third, the stock market is also a source of profit for the bank. Of course, it is not to use the bank's money to speculate, but to set up a fund to speculate in stocks.

To sum up, Wu Guangyao believes that his bank will definitely have the hope of becoming a big bank.