China Development Financial Holding Corporation (hereinafter referred to as "CDF") announced today that it has obtained the regulatory approval to transfer KGI Site to a wholly-owned subsidiary of CDF. The recorded date of the shares transfer will be July 1. With the transfer, CDF will now own five major subsidiaries, including life insurance, banking, securities, investment trust and private equity/asset management, as it continues to drive the future growth of the Group.
CDF’s Board approved the transfer of KGI SITE to become a full subsidiary of CDF in March, and the transition has also received further regulatory approval earlier this year. CDF has formed an internal dedicated team to ensure a seamless transition and to better leverage the groups synergies.
Steve Bertamini, President and CEO at CDF, said "this is part of CDF’s five year strategic development plan to position KGI Site it as a key pillar of future growth for the Group and support CDF’s vision to become a leading financial company in Asia.
KGI Site has long been focusing on expanding the scale of asset management and optimizing its investment performance. KGI Site’s public offering funds has grown by more than 25 times in the past 5 years, bringing it to the 8th position among its peers. In addition, KGI Site has earned numerous recognitions for its performance such as "The Best Asset Manager" at Golden Goblet Award by Taiwan Securities and Futures Institute. Going forward, KGI Site will continue to implement CDF’s ABCDE strategy, focusing on enhancing customer experience, while developing a diverse product offering and solutions to meet investors’ needs.