Dominic Ng

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Dominic Ng
Born1959 (age 64–65)
Hong Kong
Alma materUniversity of Houston
Occupation(s)Chairman, president and CEO, East West Bank

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.[1] His parents had lost most of their property after the Chinese Civil War and fled from Shanghai to Hong Kong in 1949.[1][2] In Hong Kong, his father operated a bus transport business, while his mother ran a small business sewing school uniforms.[1][2]

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.[1][3] He became a United States citizen in 1988.[4]

Career

Ng began his career as a Certified Public Accountant with Touche Ross in Houston and Los Angeles.[1][5] 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.[1]

In 1992, Ng became East West Bank's third president and CEO.[6][7] He transformed East West Bank into a full-service banking company with dozens of branches in the United States.[8] In 1997, Ng engineered East West Bank's sale in a management-led buyout.[9] He became the bank's chairman that same year.[10] The bank went public in 1999.[9]

As CEO of East West Bank, Ng built a reputation for diversifying the bank's portfolio, including entertainment.[6][11] 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.[11] He is also involved in real estate, renewable energy, and other sectors.[12] From 2005 to 2011, Ng served on the board of directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch.[13]

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,[14] and later that year was announced to chair the 2023 APEC summit to be hosted by the U.S.[14] His specific focus included climate change and technology.[15]

Ng's appointment attracted scrutiny from several Republican lawmakers over his connections to China-based organizations.[16][17] Members of the Congressional Asian Pacific American Caucus characterized the scrutiny as racist in nature.[18]

During APEC United States 2023, Ng and San Francisco Mayor London Breed hosted a private welcome reception for the APEC Business Advisory Council.[19]

Advocacy and community involvement

Ng has advocated for and sponsored the showcasing of East Asian culture and art by major U.S. institutions,[20][21] including the Los Angeles County Museum of Art, Museum of Contemporary Art, Los Angeles,[22] Huntington Library,[23] Bowers Museum,[24] and USC Pacific Asia Museum.[25] He serves on the board of the Academy Museum of Motion Pictures.[26] Columbia University's Weatherhead East Asian Institute recognized Ng with its 75th Anniversary Award for Excellence in February 2024.[27]

From 2011 to 2014, Ng served as chairman of the Committee of 100.[28][29] 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.[30][31] Ng is also a member of the University of Southern California’s Board of Trustees.[32]

References

  1. ^ a b c d e f Lee, Alfred (25 March 2012). "Dominic Ng: MADE IN AMERICA". Los Angeles Business Journal. Archived from the original on 9 October 2023. Retrieved 18 October 2023.
  2. ^ a b Flannery, Russell (18 August 2022). "Asia Niche Will Help East West Bank Weather U.S. Economic Downturn, CEO Dominic Ng Says". Forbes. Archived from the original on 12 November 2023. Retrieved 19 October 2023.
  3. ^ "Dominic Ng". giveto.uh.edu. 17 October 2017. Archived from the original on 2023-08-17. Retrieved 2023-08-16.
  4. ^ Mitchell, Russ (9 April 2023). "The Daily Caller, far-right media outlet, targets Asian business leaders". Los Angeles Times. Archived from the original on 1 September 2023. Retrieved 18 October 2023.
  5. ^ "East West Bancorp Inc (EWBC:NASDAQ GS)", Bloomberg Businessweek, July 2, 2012
  6. ^ a b Brock, James (2023-05-15). "Dominic Ng: Transforming East West Bank". Los Angeles Business Journal. Archived from the original on 2023-12-22. Retrieved 2023-12-22.
  7. ^ "Board of Directors | Dominic Ng | Mattel, Inc". corporate.mattel.com. Archived from the original on 2023-12-02. Retrieved 2023-12-22.
  8. ^ Reckard, Scott E. (5 August 2007). "Banking on the American dream". Los Angeles Times. Archived from the original on 2023-12-15. Retrieved 2023-12-15.
  9. ^ a b Flannery, Russell. "Asia Niche Will Help East West Bank Weather U.S. Economic Downturn, CEO Dominic Ng Says". Forbes. Archived from the original on 2023-11-12. Retrieved 2023-12-15.
  10. ^ "East West Bank CEO: films, art can bring together China, the US". South China Morning Post. 2019-04-04. Archived from the original on 2023-12-15. Retrieved 2023-12-15.
  11. ^ a b Bruno, Joe Bel (2016-03-03). "L.A.'s Mystery Banker Behind Hollywood's China Money". The Hollywood Reporter. Archived from the original on 2023-09-18. Retrieved 2023-09-13.
  12. ^ Chen, Liyan. "Meet The Chinese American Bank That Wants To Become Wells Fargo". Forbes. Archived from the original on 2023-12-22. Retrieved 2023-12-22.
  13. ^ "LA 500: Dominic Ng". Los Angeles Business Journal. 17 August 2017. Archived from the original on 12 November 2023. Retrieved 19 October 2023.
  14. ^ a b "Dominic Ng Appointed to Chair APEC Business Advisory Council During U.S. Host Year in 2023" (Press release). U.S. Department of State. 25 July 2022. Archived from the original on 2023-03-30. Retrieved 2023-03-29.
  15. ^ "East West Bank CEO to focus on climate, tech in heading global trade council". American Banker. 2022-11-29. Archived from the original on 2024-01-04. Retrieved 2024-01-04.
  16. ^ Mueller, Julia (February 15, 2023). "House Republicans ask FBI to investigate Biden appointee over potential Espionage Act violations". The Hill. Archived from the original on 29 March 2023. Retrieved 29 March 2023.
  17. ^ Scott, Eugene (February 25, 2023). "Democrats call on GOP to condemn Lance Gooden comments about Judy Chu". Axios. Archived from the original on December 6, 2023. Retrieved April 12, 2024.
  18. ^ Richards, Zoë (23 February 2023). "Rep. Judy Chu hits back at Texas Republican over 'racist' remarks questioning her loyalty to U.S." NBC News. Archived from the original on 31 March 2023. Retrieved 31 March 2023.
  19. ^ Goard, Alyssa (2023-11-13). "APEC parties welcome global leaders in business, policy to San Francisco". KNTV. Archived from the original on 2024-01-04. Retrieved 2024-01-04.
  20. ^ Pogrebin, Robin. "Frieze Los Angeles Opens Amid Attention to Asian Artists". The New York Times. Archived from the original on 2024-03-21. Retrieved 2024-03-21.
  21. ^ "The Weatherhead East Asian Institute Turns 75". Columbia News. 2024-03-20. Archived from the original on 2024-03-21. Retrieved 2024-03-21.
  22. ^ Muchnic, Suzanne (2007-08-29). "MOCA's Chinese future". Los Angeles Times. Archived from the original on 2023-02-27. Retrieved 2023-02-27.
  23. ^ "Huntington Library's new garden celebrates Chinese culture". Los Angeles Times. 2008-02-17. Archived from the original on 2023-02-27. Retrieved 2023-02-27.
  24. ^ "Bowers Museum of Cultural Arts get $1 million gift". Orange County Register. 2005-12-12. Archived from the original on 2023-02-27. Retrieved 2023-02-27.
  25. ^ "USC Pacific Asia Museum’s Autumn Moon Gala honors Dominic Ng" Archived 2020-07-05 at the Wayback Machine, USC News , Nov. 17, 2014
  26. ^ Keegan, Rebecca (2021-09-23). "Barbra Streisand, Ted Sarandos, Nicole Avant and the Katzenbergs on Helping Fund the $484M Academy Museum". The Hollywood Reporter. Archived from the original on 2024-03-29. Retrieved 2024-03-29.
  27. ^ Pallares, Daniela Ospino. "Weatherhead East Asian Institute celebrates 75th anniversary with gala". Columbia Daily Spectator. Archived from the original on 2024-03-29. Retrieved 2024-03-29.
  28. ^ "Dominic Ng". Los Angeles Business Journal. 30 July 2018. Archived from the original on 5 February 2023. Retrieved 18 October 2023.
  29. ^ "Dominic Ng completes term as C-100 chairman". China Daily. April 28, 2014. Archived from the original on 2022-12-09. Retrieved 2023-10-18.
  30. ^ "CEO of Pasadena-Headquartered East West Bank Appointed to Advisory Council – Pasadena Now". Pasadena Now. Archived from the original on 2024-03-20. Retrieved 2024-03-20.
  31. ^ Reckard, Scott E. (2007-08-05). "Banking on the American dream". Los Angeles Times. Archived from the original on 2023-12-15. Retrieved 2024-03-20.
  32. ^ Medzerian, David (2022-07-26). "USC Trustee Dominic Ng to chair key business advisory effort". USC Today. Archived from the original on 2024-03-20. Retrieved 2024-03-20.
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