October 1st, 2019 -- CDIB Capital Group (“CDIB”), a subsidiary of China Development Financial (“CDF”), announces the appointment of Mr. Angelo J.Y. Koo as Chairman succeeding Mr. Chia-Juch Chang, effective today. Prior to his appointment, Mr. Koo held the role of President and CEO of CDF, and Chairman of China Development Industrial Bank (predecessor of CDIB Capital Group) from 2004 to 2009. Mr. Koo is currently Chairman of the CDIB Education and Cultural Affairs Foundation.
CDIB will be leveraging Mr. Koo’s global investment network and industry insights to lead CDIB’s continuous expansion. Besides, the company will also benefit from his philanthropic experience to further enhance CDF’s corporate social responsibilities.
Since its inception in 1959, CDIB has played a critical role in funding Taiwan’s economic development by investing in various industries, including telecommunications and media, textiles, petrochemicals, electronics, semiconductors, IT services as well as in the consumer, retail, healthcare and biotech sectors. Through its investment activities, CDIB has been a pioneer in Taiwan’s venture capital and has established itself as an important contributor to Taiwan’s economic transition and industry upgrade.
Over recent years, CDIB has successfully transformed its proprietary investment business into an asset management model. As of June 2019, CDIB managed in excess of NT$75bn in private equity and venture capital assets, including four funds denominated in NT dollars (Creative Industries, Healthcare Ventures, Growth Partners and Innovation Accelerator), two funds denominated in Renminbi (Hua-Dong Fund and Hua-Nan Fund) and two funds denominated in US dollars (Asia Partners and Global Opportunities).
About CDIB Capital Group
CDIB Capital Group (“CDIB”), the first private development-oriented financial institution in Taiwan, was established in 1959. In its 60 years of history, CDIB has focused on its principal investments and corporate banking activities. It has invested in and provided financial services for domestic and overseas clients in numerous industries, and continues to play a critical role in further developing Taiwan’s private equity and venture capital markets. In recent years, CDIB has broadened its investment activities by managing third party capital from a wide range of sources including high-net-worth individuals, family offices, sovereign wealth funds, pension funds, funds of private-equity funds, insurance companies and banking institutions located around the world.