China Development Financial announced that (hereinafter CDF, TWSE:2883) its board of directors had approved the appointment of Mr. Stefano Paolo Bertamini as President and CEO. Mr. Daw-Yi Hsu, Chairman of KGI Securities, will continue to serve as the Acting President, pending approval of the appointment by the competent authority. Mr. Bertamini, with considerable business and finance acumen, will lead the Group’s international business development, resources integration, and digital innovation with the newly-appointed Chief Digital Officer Mr. Ketan Samani.
Prior to joining CDF, Mr. Bertamini served as CEO of Al Rajhi Bank, the world's largest Islamic bank, where he doubled the bank's market capitalization from US$24bn in 2015 to US$48bn in 2019, creating industry and peer-beating ROE. From 2008 to 2014, he was the Group Executive Director and CEO of Global Consumer Banking at Standard Chartered Bank, delivering 18% operating profit growth over five years across Asia, Africa, and the Middle East. During Mr. Bertamini’s 22-year services with General Electric (GE), he made his mark as one of the three employees to pioneer Asian markets. He also spearheaded the growth for GE Australia and was appointed President of GE Capital Asia in China as well as Chairman and CEO of GE North East Asia.
In his new role as CDF's new President, Mr. Bertamini will leverage his extensive experiences to expand the internationalization of the Groups’ four major pillars of business, including life insurance, banking, securities, venture capital and private equity.
Going forward, CDF and its affiliates will work closely with Mr. Samani, the Chief Digital Officer to launch new digital strategies that deliver unique user experiences. The Group has already rolled out innovative digital services in response to the rapidly-changing digital trends. CDF believes that the new appointment, along with its 60 years of local business insight and international perspective, will accelerate the Group’s long-term growth and strengthen its international presence.