DL Holdings Group is a one-stop financial services group headquartered in Hong Kong with offices in Shanghai, San Francisco and Singapore.
Tel: +852 3188 5552
29/F Vertical Square, 28 Heung Yip Road, Wong Chuk Hang, Hong Kong
文 | 賀之穎
俄烏開戰，從軍事力量的角度分析，俄羅斯佔有更大優勢，但自歐美向烏克蘭進行軍事援助並對俄羅斯及白俄羅斯啟動一系列制裁後，從經濟與金融的角度看，俄羅斯顯然處於弱勢。俄羅斯利用其強大的軍事力量震懾並遏制烏克蘭想要加入北約和歐盟的意向；與此同時，歐美國家利用法律及金融體系對俄羅斯進行經濟制裁，從社會發展的角度遏制俄羅斯的戰爭意向。本文將通過俄羅斯此次被制裁事件，引申討論在英美法系的體制下，海外資產佈局以及設立家族辦公室，能否增加家族傳承的確定性，從而降低資產風險。在資產架構中，信託工具作為重要的財富傳承法律工具，應該選擇於何地進行設立和管理。而家族辦公室的管理能夠以專業、獨立和定製化的私人服務，為資產擁有者實現風險隔離和在變化的局勢中審時度勢的動態化管理。
DL Holdings Group Co-founder / Partner
DL Holdings Honorary Chairman / Non-executive Director
Ms. Crystal Jiang has over 18 years of experience in the financial and media industry. She is the Co-founder, Partner of DL Holdings Group, and also the Honorary Chairman and Non-executive Director of the listed company.
Prior to founding DL Family Office, Ms. Jiang was a Senior Vice President of J.P. Morgan Private Bank covering Hong Kong and China. Prior to her role at J.P. Morgan, Ms. Jiang was the Senior Vice President of Standard Chartered Private Bank and HSBC Private Bank. Ms. Jiang is also the founding member of PBEC (Pacific Basin Economic Council) China Chapter and serves as a board director.
Prior to joining Standard Chartered and HSBC, Ms. Jiang was a TV host at Phoenix Television, anchoring financial, current-affairs and social programs including “News Talk Today”, “International News Reporting’ and “Going Around China”. Ms. Jiang was the Champion of “Miss Chinese Cosmo Pageant 2003”.
Ms. Jiang graduated from the Advanced Management Development Program from Harvard University Graduate School of Design. She holds a master’s degree in Media Management and Social Science from Hong Kong Baptist University and a bachelor’s degree of Arts in Communication, International Journalism and English Broadcasting from Communication University of China.
DL Holdings Group Partner
DL Family Office Chairman
Mr. Donny Lam has over 30 years of experience in the financial services and capital markets industry. He is the Partner of DL Holdings Group and the Chairman of DL Family Office. Prior to joining DL Family Office, Mr. Lam was a MD and Global Investment Specialist of J.P. Morgan Private Bank in Asia. He was responsible for providing ultra-high-net-worth clients and families with tailored investment solutions for their strategic and opportunistic investment needs. His breadth and depth of expertise across a variety of asset classes such as equities, fixed income, foreign exchange, hedge fund, and private equity etc., helps in the delivery of effective investment solutions and optimized portfolios to the most sophisticated clients.
Previously, Mr. Lam was the Head of Investment Advisory Team of HSBC Private Bank covering HNWI across the North Asia Region. Prior to this, Mr. Lam worked at Citibank Private Bank where he was responsible for investment advisory and stock trading services in the Taiwan market.
Prior to his role at the private bank, Mr. Lam was a treasurer at a brokerage firm where he managed Asian currency risk exposure and financing matters. Mr. Lam started his career in banking with Citibank (HK) where he held various positions in specialized finance including Money Market & Swap Trader.
Mr. Lam holds an MBA and a bachelor’s degree of Business Administration from the Chinese University of Hong Kong. Mr. Lam is an Adjunct Associate Professor at the Faculty of Business and Economics of the University of Hong Kong.
DL Holdings Group Partner
DL Family Office Vice Chairman / President of Alternative Investment
Mr. John Zhou is a seasoned professional in corporate finance and private equity with close to 20 years of experience in Hong Kong and New York. He is currently a Partner of DL Holdings and Head of Alternative Investments.
During his tenure at DL Holdings, he successfully built up the Group’s alternative investments business and played an instrumental role in the establishment and development of DL Family Office.
Prior to joining DL Holdings, Mr. Zhou held investment banking and private equity roles with several institutions, including Lehman Brothers, Nomura, Bear, Stearns & Co., PacBridge Capital Partners and BNP Paribas in Hong Kong and New York.
Mr. Zhou holds an MBA in Finance from Yale University and a bachelor degree from Baruch College.
DL Holdings Group Partner
DL Family Office CEO
Ms. Crystal He joined DL Family Office in 2014. She is the Partner of DL Holdings Group and the Chief Executive Officer of DL Family Office. Ms. He leads the team to design and execute family succession solutions for families from various industries. Her expertise lies in overall wealth planning including investment, family governance and corporate finance.
Before joining DL Family Office, Ms. He served at Standard Chartered Bank China Retail Banking Proposition and Strategy department where she helped to design and implement the strategy on client retention framework. She led the team in the execution of client loyalty monitoring system and operation optimization through collaborative efforts with products, sales management, operation and segment teams.
Afterwards, Ms. He joined Standard Chartered Private Banking where she worked to bridge the personal and corporate solutions catering to ultra-high net worth clients’ needs. She played a leading role driving the consolidation project that merged Private Banking and Priority Banking, resulting in improved financial performance. She worked briefly for Bank of Singapore in charge of China Private Banking clients before joining DL Family Office.
Ms. He holds a bachelor’s degree of International Economics and Trade from Shanghai International Studies University, and Wealth Management for Private Bank Certification from Financial Technology Transfer Agency of Luxembourg Consulate.
DL Holdings Group Partner
DL Holdings (Singapore) CEO
Mr. Wei Hao Kiow has extensive experience in the private equity, stock backed financing, merger & acquisitions and Hong Kong equities. He is now currently the partner of DL Holdings Group, and CEO of DL Holdings Singapore.
Prior to joining DL Holdings Group, Mr. Kiow founded Celerity Capital, a private investment entity focusing on venture capital, private equity and secondary markets. Celerity manages over USD 50 million.
Prior to Celerity Capital, Mr. Kiow was the Vice President of DL Family Office where he helped the company grows their AUM to USD 300 million.
Prior to DL Family Office, Mr. Kiow was an analyst at LJ Capital, the private equity arm of the Guggenheim Family.
Mr. Kiow holds a bachelor’s degree in Finance from Mclaren School of Economics and Management of University of San Francisco.
DL Holdings (China) CEO
Ms. Wenona Xu is a professional with rich experience in fund management, project management and internal control financial management. She has more than 15 years of working experience in mainland China and Hong Kong. She is currently the Chief Financial Officer of DL Holdings and the Chief Executive Officer of DL Holdings (China).
Prior to DL Holdings, she served as DL Securities (Hong Kong) as Chief Financial Officer. Prior to that, she managed a 1 billion RMB Fund with a focus on cross-border investments.
From 2009 to 2011, she was the deputy general manager of investor relations for one of China’s largest renewable energy initiatives. Ms. Xu also worked for a sports media company in China, responsible for the company’s interactive media platform promotion and assisted the company’s restructuring and listing project management.
Ms. Xu holds a master’s degree in public administration and economic management from Roskilde University of Denmark.
DL Holdings Group Head of Treasury
Ms. Nancy Wu has extensive experience in overseas family structured solutions and family wealth management. She is now the Head of Treasury of DL Holdings.
She has worked for DL Family Office and has helped manage the family’s wealth in excess of 500 million USD. She participates in the planning and execution of clients’ overseas asset allocation, including market strategies, individual stocks, listed projects, strategic investments and bond analysis.
Ms. Wu has also been involved in the planning and implementation of overseas family architecture design and solutions for clients, including private banking, trust, insurance, immigration, overseas real estate and other businesses. Ms. Wu also has extensive experience in overseas fund management and internal control financial management. She has participated in the establishment and post-investment operation of private equity funds in Tujia and JD Logistics. Ms. Wu has also been involved in the design of the secondary market hedge fund’s establishment and fund administration.
Ms. Wu holds a master’s degree in electrical engineering from the University of Hong Kong and a bachelor’s degree in electrical engineering from Dalian Maritime University.
DL Holdings Group Co-founder / Partner
DL Holdings Chairman of the Board / Executive Director
Mr. Andy Chen has over 20 years of working experience in the financial industry. He is the Co-founder and Partner of DL Holdings Group, and also the Chairman of the Board and Executive Director of the listed company.
Mr. Chen founded DL Securities & DL Family Office successively. From 2012 to 2015, he was responsible for the regulated activities of DL Securities (HK) Limited with Type 4 (advising on securities) and Type 6 (advising on corporate financing) under the Securities and Futures Commission. From 2013 to 2015 he was responsible for DL Securities (HK) Co., Limited with Type 1 (Dealing in Securities) regulated activities under the Securities and Futures Commission. During this period, he has participated in a number of global capital market projects.
From February 2015 to August 2015, Mr. Chen was a non-executive director of Greater China Financial Holdings Limited (formerly known as Greater China Industrial Holdings Limited) (stock code: 431). He was appointed as the company’s chief executive until his resignation in June 2016. Mr. Chen was an executive director and founding member of Bohua Capital Fund and Bozhi Capital Fund (both private equity companies). He has previously worked for HSBC Hong Kong Global Investment Banking, London HSBC Group Capital Markets and Hong Kong HSBC Bond Markets.
Mr. Chen holds bachelor’s degrees (Hons) in both Economics and Statistics from the University of Chicago.
DL Holdings Group Partner
DL Holdings Executive Director / CMO
Mr. Victor Ai has more than 16 years of experience in the management of listed companies, capital investments, mergers and acquisitions, public and investor relations and international media. He is now the Partner of DL Holdings Group, and Executive Director and Chief Marketing Officer of the listed company.
From 2017 to 2020, Mr. Ai served as the chairman and executive director of Sino Vision Worldwide Holdings Limited (8086.HK). Prior to joining Sino Vision, Mr. Ai was the co-chairman and managing director of DL Family Office (China) and was responsible for the company’s business development in mainland China.
Prior to this, Mr. Ai worked at China Central Television (CCTV) from 2005 to 2015 as a foreign language channel program anchor, producer and chief reporter. He has won many national awards and recognitions and is proficient in Chinese, English and Spanish. Mr. Ai is the vice president of Latin American Branch of the Western Returned Scholars Association of China; Deputy Director of Federation of Hong Kong Jiangsu Youth; Guest Researcher at the China Institute of Fudan University; and Visiting Professor at Wuhan Institute of Design and Sciences.
Mr. Ai holds a master’s degree in journalism from Renmin University of China and a bachelor’s degree from Communication University of China. He also studied at Universidad de Murcia, Spain.
DL Holdings Group Partner
DL Holdings (China) Chairman
Mr. Gene Huang is a professional with rich experience in corporate management, government relations, education, etc. He has more than 20 years of working experience in mainland China. Currently he is the Partner of DL Holdings Group and the Chairman of DL Holdings (China).
Mr. Huang was in charge of various important positions in the School of Management of Fudan University, including the cooperative enterprise partnerships involved in the establishment of the college and maintaining close relationships with more than a thousand well-known cross-industry companies and corporate executives; he developed the undergraduate/graduate and MBA student career development training system; he also founded the alumni network which consists of 40,000 members around the World. He has publications in the fields of marketing, business communication, and business law. Mr. Huang has directly contributed to Fudan University School of Management’s transition from a top Chinese business school to a top global business school.
Mr. Huang has also been employed as the chairman of the board of a NEEQ company and as an independent director of listed companies in Hong Kong.
Mr. Huang holds a master’s degree and a bachelor’s degree in economics from Fudan University.
DL Holdings Group Partner
DL Holdings Executive Director / DL Securities CEO
Mr. Joseph Lang is an experienced entrepreneur and investor focused on the Greater China market. He is currently the Partner of DL Holdings Group, the Executive Director of DL Holdings, and the Chief Executive Officer of DL Securities.
Mr. Lang has abundant entrepreneurial experiences and has successfully raised capital for multiple ventures. Mr. Lang has led DL Securities to multiple successful primary market distribution deals with transactional volume of over 1 billion USD. These deals include: Uber, Lyft, Grab, Tencent Music Entertainment, DJI, NIO, Xiaomi, JD Logistics, etc.
Prior to joining DL Securities, he was the founder of a pawnshop group which was later acquired by a Hong Kong Main Board listed company for over 20 million USD. During Mr. Lang’s tenure, he led multiple M&A transactions and increased market capitalization by over 400% which led to the successful inclusion into MSCI’s China Small-Cap Index.
Prior to founding the pawnshop group, he was the co-founder of a Chinese-based secondary market fund, the “Lang Fund.”
Mr. Lang received his bachelor’s degree from the University of Michigan.
DL Holdings COO
Mr. Alex Sun is the Chief Operating Officer of DL Holdings. He has extensive experience in mergers and acquisitions, private equity and financial lending. He has participated in the planning and implementation of mergers and acquisitions and business turnarounds in Hong Kong Main Board listed companies and has led companies to the successful inclusion in the MSCI’s China Small-Cap Index. He has participated in the planning and execution of Hong Kong Main Board Media listed companies’ industrial upgrades. Participated in the planning and implementation of the industry integration of Hong Kong GEM technology listed companies, the introduction of multiple high-quality business assets and strategic partners; and the participation of funds in a number of listed companies in Hong Kong and US.
Mr. Sun also has extensive investment and consulting experience in primary markets. He has been involved in the planning and execution of more than 1 billion USD in investment in TMT private equity projects. He served as a financial advisor for buyers and assisted in the leveraged acquisition of a listed Australian liquor company. He was the financial advisor to assist in financing IP content operations.
Prior to joining DL Securities, Mr. Sun worked at the Bank of Communications where he was responsible for credit risk assessment and analysis. He once worked in an international accounting firm and participated in financial auditing projects for several real estate and logistics projects.
Mr. Sun holds a bachelor’s degree in accounting and finance from Hong Kong Polytechnic University.
