Daniel M. Tsai, chairman of Fubon Financial, Taiwan’s second largest financial services group, has been elected to the USC Board of Trustees.
“I am honored to welcome Daniel Tsai to the USC Board of Trustees,” said USC president C. L. Max Nikias. “He is a consummate businessman with an extraordinary track record in corporate management and finance, a broad international perspective and an unwavering commitment to corporate social responsibility, as well as to the academic mission of this university. I look forward to his leadership on our board.”
Over the past 50 years, Fubon Financial has evolved from property and casualty insurance into the banking, securities, life insurance and asset management business. Today, the company’s primary subsidiaries include Fubon Asset Management, Taipei Fubon Bank, Fubon Bank (Hong Kong), Fubon Insurance, Fubon Life and Fubon Securities, with assets totaling nearly $120 billion as of December 2011.
Since joining Fubon in 1981, Tsai has dedicated himself to developing the company as a “financial department store,” offering a comprehensive and balanced mix of financial services. He helped grow Fubon’s presence in Taiwan and also expanded its reach into China and Hong Kong. Under his direction, Fubon also has strengthened its reputation as an exemplary corporate citizen by supporting a range of social service, cultural and educational programs through four charitable foundations.
Tsai’s expertise extends to the telecommunication and cable TV sector. He currently serves as vice chairman of the board of Taiwan Mobile, which acquired Taiwan Fixed Network Co. in 2007 and now is one of the leading convergent services providers in Taiwan.
Also an active supporter of USC’s international outreach in Asia, Tsai was a featured speaker at the university’s 2009 Global Conference in Taipei, where he presented as part of a panel titled “The Global Economy: Changing Business in Asia.”
Among the numerous accolades Tsai has garnered for his leadership, Institutional Investor magazine named him the best CEO in Taiwan in 2003, and both Asiamoney and Euromoney rated Fubon Financial as Taiwan’s No. 1 financial institution in terms of corporate governance in 2004.
In 2009, Euromoney singled Tsai out for his outstanding contribution to greater China financial services, noting the key role in integrating financial services in the region. He was cited for best investor relations by a CEO in Taiwan in 2010 by IR Magazine and received the Asian Corporate Director Recognition Award from Corporate Governance Asia in 2010 and 2011. Corporate Governance Asia also named him Asia’s best CEO (investor relations) in 2011 and 2012.
Tsai graduated from National Taiwan University in 1978 and received his master’s degree in law from Georgetown University in 1979. His wife, Irene, earned a master’s degree from the USC Annenberg School for Communication and Journalism in 1983, and three of the couple’s four children currently are enrolled at USC.