Chapter 1258 Based in China and the United States, radiating the world (Autistic Cat Leader 510)

   Wu Jianmin came to New York as soon as he received a message from his good friend Yang Jieyuan.

  Xia Jingxing received the CEO of East West Bank at 40 Wall Street, where Envision Capital is located.

  After a while, Wu Jianmin went straight to the topic and asked, "Daren, Jerry said you intend to acquire our East West Bank?"

"good!"

   Wu Jianmin nodded and said again: "Are you buying in the name of Envision Capital, or in the name of Envision Financial Holding Group?"

   "The latter of course."

   Wu Jianmin said with a smile: "The acquisition between Envision Financial Holdings and AIA hasn't ended completely, right?"

   "The agreement has been signed, and it will probably take a few months for the complete settlement."

   Wu Jianmin said: "It is normal for such a large transaction to take several months.

   But I have a question, Darren, why are you in such a hurry to acquire East West Bank? "

  Xia Jingxing smiled lightly, "I am not anxious to acquire East West Bank, but to acquire a bank in a hurry."

   Wu Jianmin smiled and understood the meaning of the other party's words. It was not that he had to buy East West Bank.

   Upon seeing this, Wu Jianmin said frankly: "To be honest, the shareholders are not very willing to sell East West Bank.

   More than a year ago, East West Bank’s peak stock price exceeded $40, and now it has fallen to only $4, and its market value has dropped from nearly $6 billion to less than $600 million.

   In fact, East West Bank has been operating conservatively and has not participated in subprime derivatives transactions on a large scale.

  Our stock price plummeted, but it was only implicated by the general environment, and there was no problem with the operation of the bank itself.

  From 1997 to 2007, East West Bank maintained an average annual net profit growth of 27%, much higher than its peers. "

  Xia Jingxing listened with a smile and did not interrupt.

   After Wu Jianmin finished speaking, he said: "What we look at China American Bank is not its profit growth rate, nor its number of branches.

   In fact, if Envision Financial Holdings wants to acquire a large multinational commercial bank at this stage, it can be done easily. "

   Wu Jianyu had a faint smile on his face, he didn't think Xia Jingxing was bragging, but the other party did have such capital strength.

  Xia Jingxing suddenly set eyes on East West Bank, which still surprised him. He didn't understand that the other party was attracted to their small bank.

   “The thing that attracted us most about East West Bank was its name…”

   Looking at Wu Jianmin's doubtful eyes, Xia Jingxing added with a smile, "The meaning behind the name!

The predecessor of    East West Bank was a small community bank established in Los Angeles Chinatown in 1973, mainly serving new immigrants who did not speak English.

   You, Mr. Wu, were born in Hong Kong and came to the United States to study in the 1970s. After graduation, you worked in Deloitte for ten years.

  In 1991, at the age of 32, you helped the Indonesian-Chinese rich man Lin Guoxiang buy East West Bank with total assets of 600 million US dollars with US$40 million, and became the CEO of this bank that has begun to take shape.

   In the following ten years, under your trade, East West Bank has carried out fifteen or six mergers and acquisitions, and successfully landed on the Nasdaq, with total assets of more than 20 billion US dollars, ranking 38th among all banks in the United States.

   This is a very remarkable achievement. East West Bank can have the scale it is today. Mr. Wu, you have made a great contribution. "

   Seeing that Xia Jingxing talked about the history of East West Bank like a treasure, and praised himself so much, Wu Jianmin couldn't help but have a smile on his face.

   East West Bank is not a big bank, but it is the work of his half-life, and it is also the career he is most proud of.

   With this extraordinary achievement, he was also successfully selected into the "Hundred People's Association", and together with Yang Jieyuan, I.M. Pei and others became the most outstanding 100 Chinese in the United States.

   "Today, East West Bank has more than 130 branches in the United States, covering major cities.

   The first Chinese branch was established in Hong Kong, China the year before, and this year it seems to have obtained the mainland foreign-funded legal person bank license, right? "

  Wu Jianmin nodded and said, "Yes, we plan to open the first branch in Mainland China in Modu soon. The office address is on the 33rd floor of Jin Mao Building, and it is a neighbor to the Magic City office of Vision Capital."

  Xia Jingxing smiled, "You guys should be planning to vigorously develop the mainland Chinese market, right?"

   "Actually, we set up our first mainland office in Beijing as early as 2003, but at that time we didn't have the strong capital to deeply cultivate the mainland market.

   Now that China is playing an increasingly important role in the world, East West Bank, as a financial bridge connecting China and the United States, should not miss such a good opportunity for development.

  We are mainly engaged in Chinese retail banking business in the United States, and we also strive to attract American companies doing business in China to cooperate with us, and also provide support for Chinese companies to expand in the United States through trade financing and commercial loans. "

  Xia Jingxing nodded. There was not much water in those words. As a bank with Chinese as the main management, East West Bank knows how to use its own advantages.

   In the previous life, BYD set up a factory in the United States, and East West Bank provided financing support for it.

In addition, after East West Bank entered China, it mainly focused on the cultural and entertainment market, provided financing support for the film and television projects of companies such as Bona, Hunan TV and Radio Media, and Tangde Film and Television, and participated in the filming of "Tai Ping Lun", "The Second Gunner", "The Second Cannonball" Taoist Down the Mountain" and other movies and TV series.

  Because it is located in California, East West Bank also has deep cooperation with Hollywood and participated in film and television projects such as "The Hunger Games" and "Marco Polo".

   "I actually coincide with many of your ideas!"

  Xia Jingxing looked at Wu Jianmin and said with a very serious expression: "East West Bank itself has very special advantages. Because it is backed by the two largest economies in China and the United States, it can actually do a bigger business..."

  Xia Jingxing talked about his desire to expand East West Bank into a global Chinese bank.

After listening to   , Wu Jianmin said with a surprised expression: "Do business in places where there are Chinese?"

  Xia Jingxing nodded, "Yes, East West Bank was founded to provide convenience for Chinese Americans in the United States, and now this goal has basically been achieved.

  But if you want to become a big global bank, or even wrestle with giants such as HSBC and Citi, you must keep pace with the times.

   As you said, China is rapidly becoming prosperous and powerful, and the footprints of Chinese businessmen gradually spread over seven continents and four oceans.

  Why didn't East West Bank change from providing banking services to Chinese Americans in the United States to providing services to Chinese people all over the world?

   Now that East West Bank has laid a solid foundation in the United States, as long as it works hard in China, it can radiate to the world based on China and the United States.

   I can see that, Mr. Wu, you are very good at inter-bank mergers and acquisitions.

  If I successfully acquire East West Bank, I would like to invite you to continue to serve as CEO and provide you with sufficient ammunition. I wonder if Mr. Wu, do you have the confidence to make East West Bank a large multinational bank with global coverage? "

   Wu Jianmin was stunned, not knowing what to say for a while.

   It took him nearly two decades to pull East West Bank into a mid-sized bank.

   And Xia Jingxing is a big bank covering the whole world.

   Can this goal be achieved?

   Considering Xia Jingxing's strong financial resources, Wu Jianmin thought there was hope.

   However, he did not dare to guarantee success. After all, mergers and acquisitions also have failed cases, and there are still many.

   But Xia Jingxing's goal of "Global Chinese Banking" still moved him quite a bit.

   As a banker, his greatest hope is to see more and more branches being born, the scale of bank assets expanding, and becoming a pivotal presence in the financial world.

   "Daren, I have to think about it. Your banking plan impresses me very much, but I am already fifty years old after all. Whether my energy and past experience can support the completion of such a grand business plan is a big question mark.

  My personal failures are minor. If you delay and affect your business plan, it may cause immeasurable losses. "

  Xia Jingxing nodded, "You don't have to rush to answer me, I asked you to see this side today, and I hope you will first understand the goals and dreams of Vision Financial Holdings.

   As for the negotiation with the shareholders of East West Bank, I will entrust another person to negotiate.

  Banks were invented by Western countries, but Jiaozi banknotes and banks appeared in China as early as the Northern Song Dynasty.

  After the birth of the modern banking industry, there has never been a banker with world influence among Chinese-Chinese.

   The influence of the bankers in Southeast Asia and the business of their companies are also limited to the local area.

   Mr. Wu, I think you have the talent to become a banner of Chinese bankers in the global financial world.

   Such talent should not be buried, and should be on a higher stage to show his ambitions. "

  Wu Jianmin was dumbfounded by Xia Jingxing's remarks. He has reached the age of knowing the destiny and will not become hot-blooded just because of a few injections of chicken blood.

   But he also had to admit that some of Xia Jingxing's words touched him.

   As a professional manager, his highest pursuit is not how much money he makes, but what industry status he achieves.

   If you can really lead East West Bank to become a banking giant with assets of 100 billion US dollars and market value of 100 billion US dollars, it is a worthwhile life, right? Wu Jianmin thought to himself.

   (end of this chapter)