USC Trustee Dominic Ng, who was appointed as a U.S. member of the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) on April 25, will serve as the chair during the United States’ APEC host year in 2023, the State Department announced Monday on its website.
Ng, chairman and CEO of East West Bank, has served on the USC board since 2014.
For more than 30 years, APEC has served as the premier economic platform for the United States to engage our regional partners on structural issues to advance a fair, open, sustainable and inclusive economic and trade architecture.
Created in 1995, ABAC consists of up to three business representatives from each APEC economy and is a key component of APEC’s multi-stakeholder approach to trade and economic policies. ABAC meets throughout the year to discuss policy recommendations, undertakes activities to promote trade and investment as well as sustainable and inclusive growth, and reports annually to APEC leaders.
Asia-Pacific Economic Cooperation Business Advisory Council: recommendations and more
In the newly announced role, Ng will work closely with other ABAC members to provide recommendations to APEC leaders reflecting the perspectives of key APEC stakeholders. For the remainder of Thailand’s APEC host year in 2022, Ng also will serve as ABAC co-chair alongside the chair from Thailand. As ABAC co-chair in 2022 and chair in 2023, Ng will represent ABAC in meetings with government and business dignitaries on the margins of ABAC meetings. As outgoing chair in 2024, Ng will reprise his role as co-chair when Peru hosts APEC.
Mr. Ng leads East West Bank, the largest publicly listed independent bank headquartered in Southern California. In his 30 years as CEO, Ng has transformed East West Bank from a small savings and loan association with $600 million in assets into a global full-service commercial bank with over $62 billion in assets. Bank Director ranked East West as the No. 2 top performing large U.S. bank in 2022.
In addition to the USC board, Ng serves on the governing boards of Mattel Inc. and the Academy of Motion Picture Arts and Sciences. He is a member of the Council on Foreign Relations and a former board member of the Federal Reserve Bank of San Francisco, Los Angeles Branch.
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