Dominic Ng

Dominic Ng (simplified Chinese: 吴建民; traditional Chinese: 吳建民; pinyin: Wú Jiànmín) is an American banker who has been chairman and CEO of Los Angeles–based East West Bank since 1992. In 2022, Ng was appointed by the Biden administration to be a U.S. member of the Asia-Pacific Economic Cooperation Business Advisory Council.

In this Chinese name, the family name is Ng.
Dominic Ng
吳建民
Born1959 (age 63–64)
Hong Kong
Alma materUniversity of Houston
Occupation(s)Chairman, president and CEO, East West Bank

Early life and education

Ng was born in the then British Hong Kong in 1959, the youngest of 6 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 them purchase East West Bank.[1]

In 1991, Ng became East West Bank's third chairman, president and CEO.[6] As CEO of East West Bank, Ng built a reputation as one of the top US bankers connecting Hollywood film studios to investors in China.[7] In 2006, the Los Angeles Times named him as one of the 100 most powerful people in Southern California.[8] In 2010, Forbes listed him as one of 25 notable Chinese-Americans, noting the survival of the Chinese-American bank after the 2008 financial crisis.[9]

From 2005 to 2011, Ng served on the board of directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch.[10]

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,[11] and later that year was announced to chair the 2023 APEC summit to be hosted by the U.S.[11] In February 2023, six Republican representatives led by Lance Gooden asked the Federal Bureau of Investigation (FBI) to investigate Ng's ties to alleged front organizations of the Chinese Communist Party's United Front Work Department, the China Overseas Exchange Association (COEA) and the China Overseas Friendship Association (COFA) as The Daily Caller reported him as an executive director of both organizations.[12][13] A spokesperson for East West Bank described Ng's position with the COEA, which invitation was accepted in 2013, as being strictly honorary and involving no attendance and stated that Ng had never accepted any position with the COFA.[12] Several members of the Congressional Asian Pacific American Caucus characterized the request for investigation as being racist in nature.[14]

Advocacy work

Ng has advocated for and sponsored the showcasing of Chinese culture and art by major U.S. institutions including Los Angeles County Museum of Art, the Museum of Contemporary Art, Los Angeles,[15] Huntington Library,[16] Bowers Museum,[17] and the USC Pacific Asia Museum.[18]

From 2011 to 2014, Ng served as chairman of the Committee of 100, an organization of Chinese Americans seeking to address partnership between China and the United States.[19][20]

References
  1. 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. Flannery, Russell (18 August 2022). "Asia Niche Will Help East West Bank Weather U.S. Economic Downturn, CEO Dominic Ng Says". Forbes. 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. "investor.eastwestbank.com". Archived from the original on December 2, 2016. Retrieved Dec 2, 2016.
  7. 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.
  8. "THE POWER ISSUE - The West 100 - Our list of the most powerful people in Southern California" Archived 2011-08-10 at the Wayback Machine, The Los Angeles Times, August 13, 2006
  9. Russell Flannery, "Marvell Technology's Mobile Connector" Archived 2020-07-03 at the Wayback Machine, Forbes.com, August 09, 2010
  10. "LA 500: Dominic Ng". Los Angeles Business Journal. 17 August 2017. Retrieved 19 October 2023.
  11. "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.
  12. 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.
  13. Huang, Josie (28 March 2023). "Prominent LA Chinese Americans Are Fighting Disloyalty Claims From The Right". LAist. Retrieved 24 October 2023.
  14. 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.
  15. Muchnic, Suzanne (2007-08-29). "MOCA's Chinese future". Los Angeles Times. Archived from the original on 2023-02-27. Retrieved 2023-02-27.
  16. "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.
  17. "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.
  18. "USC Pacific Asia Museum’s Autumn Moon Gala honors Dominic Ng" Archived 2020-07-05 at the Wayback Machine, USC News , Nov. 17, 2014
  19. "Dominic Ng". Los Angeles Business Journal. 30 July 2018. Archived from the original on 5 February 2023. Retrieved 18 October 2023.
  20. "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.
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