In the pulsating realm of digital banking and wealth management, Yao Hsiao Tung emerges as a luminary, serving as the Executive Chairman and CEO of Hi-P International Group. Beyond his executive prowess, Yao’s narrative unfolds as a fascinating saga of early life, education, professional milestones, company ethos, services, and a shared vision and mission that resonates through the corridors of Hi-P International Group.
An Overture to Early Life and Education
Yao Hsiao Tung’s journey commenced in mainland China, where the chords of his life first resonated. A move to Taiwan during childhood and subsequent Singaporean citizenship marked the opening notes of a symphony yet to unfold. After graduating in mechanical engineering from the National Kaohsiung University of Applied Sciences, Yao’s academic overture laid the groundwork for a harmonious blend of technical expertise and business acumen. This crescendo reached its zenith with a master’s degree in business administration from the University of Chicago.
Harmonizing Professional Crescendos
Yao’s career overture began as a technical service manager at Du Pont Singapore Electronics Pte. Ltd., where the intricacies of precision tooling and plastic injection molding became his melody. In 1983, he orchestrated a change in rhythm, joining Hi-P International as a small tool maker, and eventually orchestrating its acquisition in 1989. The symphony evolved as he transformed the local tooling shop into a global contract manufacturer of smartphones, tablets, and consumer electronics.
The composition reached its zenith with an IPO on the Singapore Exchange in 2014, culminating in a delisting in 2021 at a valuation of $1.2 billion. This symphony narrates not just corporate milestones but the resilience of a leader navigating through the cadence of challenges.
Hi-P International Group: A Sonnet of Financial Eminence
Hi-P International Group, under Yao’s baton, resonates as a global digital banking and wealth management platform. Its three movements—Fundsupermart.com, iFAST Platform Services, and iFAST Global Markets—paint a picture of financial diversity, offering access to over 17,500 investment products, including funds, bonds, stocks, ETFs, insurance, and robo-advisory services. The composition extends to fintech solutions encompassing banking, pension administration, investment administration, and transaction services.
With a global footprint extending over 500 branches and offices across 19 countries, Hi-P International Group serves as a symphony hall for more than 26 million customers, orchestrating a total asset value of S$476 billion as of December 31, 2021.
Harmony in Values: Guiding Principles of Hi-P International Group
The composition of Hi-P International Group is harmonized by its core values—integrity, teamwork, innovation, and customer focus. These notes are not just etched in corporate philosophy; they echo through the corridors, guiding the company’s commitment to professionalism, ethics, and excellence. The symphony aspires not just to create financial value but to make a meaningful difference in the lives of customers, employees, shareholders, and the broader community.
Financial Services: A Melody of Diversity
Hi-P International Group orchestrates a diverse suite of financial services, a symphony that caters to the dynamic needs of both individuals and businesses:
Fundsupermart.com: A B2C movement, this online platform stands tall among the leaders in mutual funds in Asia. It not only facilitates transactions but also empowers customers with research, tools, and education for informed investment decisions.
iFAST Platform Services: The B2B arm extends its symphony to financial advisory firms, institutions, and banks. Beyond investment products, it integrates fintech solutions spanning banking, pension administration, investment administration, and transaction services.
iFAST Global Markets: This B2B2C movement orchestrates a digital banking and wealth management platform for Internet and multinational companies. Beyond investment offerings, it provides holistic fintech solutions from pension administration to transaction services.
Vision and Mission: A Harmonious Aspiration
Hi-P International Group’s vision, an aspiration of global leadership in digital banking and wealth management, harmonizes with Yao Hsiao Tung’s leadership. Their shared mission, to facilitate profitable global investments for investors worldwide, echoes through three strategic pillars—product innovation, platform expansion, and customer satisfaction². Anchored in the values that have guided Hi-P International Group since its inception, Yao’s leadership symphony seeks not just financial success but the elevation of integrity, teamwork, innovation, and customer focus.
Coda: An Inspirational Symphony
In the grand finale, Yao Hsiao Tung emerges not just as a leader but as a maestro, orchestrating the transformation of Hi-P International Group from a tool maker to a global financial powerhouse. Amidst the crescendos of challenges—dot-com bubbles, financial crises, and the echoes of a pandemic—he remains an inspiration, a muse for aspiring and established leaders across Asia and beyond.
In this symphony of finance, where the rhythm of algorithms often overshadows the melody of human stories, Yao Hsiao Tung stands as a composer of success. His odyssey with Hi-P International Group is not just a corporate saga; it is a symphony resonating across the vast expanse of the financial landscape.