James Wu, general manager at Fidelity Investments in Taiwan, is leaving the firm to become executive vice president at Fubon Bank, where he will run its retail banking business. He starts at Fubon just after Chinese New Year.
Fidelity's business has expanded under Wu's four years at the helm, and the firm now claims 30% of offshore mutual fund assets. Although the company had an advisory licence since 1986, it was only under Wu that it secured an investment trust license as well as last year's brokerage licence. The two licences represent around $20 million in invested capital.
Wu said the decision to leave a beautiful company was difficult but he...
