1. 國泰金控
  2. Corporate Governance
  3. Board of Directors

Board of Directors

Curriculum Vitae of Directors

Chairman
Hong-Tu Tsai
Main Education
J.D., Southern Methodist University, USA
Main Experience
Chairman, Cathay Financial Holdings
Former Experience
Chairman, Cathay Life Insurance
Vice Chairman
Tzung-Han Tsai
Main Education
J.D., Georgetown University, USA
Main Experience
Vice Chairman, Cathay Financial Holdings
Vice Chairman, Cathay United Bank
Director, Cathay Life Insurance
Former Experience
Senior Executive Vice President, Cathay Financial Holdings
Executive Vice President, Cathay Life Insurance
Director
Cheng-Chiu Tsai
Main Education
M.A., Keio University, Japan
Main Experience
Chairman, Cathay Century Insurance
Director
Chi-Wei Joong
Main Education
B.S., Kean College of New Jersey, USA
Main Experience
Chairman, CEO, Legal Representative, Moderntimes Co., Ltd.
Director, Cathay United Bank
Former Experience
President, CMB Credit Card Center
Director
Chung-Yan Tsai
Main Education
M.A., San Francisco State University, USA
Main Experience
Vice Chairman, Cathay Healthcare Management
Director, Cathay Life Insurance
Director and Senior Executive Vice President, Cathay Real Estate Development
Director
Andrew
Ming-Jian Kuo
Main Education
M.B.A., Baruch College,
City University of New York, USA
Main Experience
Chairman, Cathay United Bank
Director
Ming-Ho Hsiung
Main Education
M.S., University of Iowa, USA
Main Experience
Chairman, Cathay Life Insurance
Former Experience
Vice Chairman and President, Cathay Life Insurance
Director
Chang-Ken Lee
Main Education
M.B.A., University of Pennsylvania, USA
Main Experience
Member of Corporate Sustainability Committee
President, Cathay Financial Holdings
Vice Chairman, Cathay Life Insurance
Former Experience
President, Cathay United Bank
Independent Director
Li-Ling Wang
Main Education
Ph.D. of Temple University (Dept. of Risk Management, Insurance, and Actuarial Science), USA
Master of Hartford University(Dept. of Accounting), USA
Main Experience
Member of Audit Committee
Member of Corporate Governance and Nomination Committee
Chairman of Risk Management and Information Security Committee
Chairman, Taiwan Sustainable Finance and Enterprise Impact Association
Chairman, Taiwan FinTech Association
Professor, National Chengchi University Department of Risk Management and Insurance
Former Experience
Chairman, Pension Funds Association in Taiwan
Vice President, National Chengchi University
Chairman, Financial Supervisory Commission Republic of China (Taiwan)
Director, First Financial Holding
Independent Director, China Life Insurance
Independent Director
Tang-Chieh Wu
Main Education
Master of National Chengchi University(Dept. of Public Finance)
Main Experience
Chairman of Audit Committee
Chairman of Remuneration Committee
Chairman of Corporate Governance and Nomination Committee
Member of Risk Management and Information Security Committee
Chairman of Corporate Sustainability Committee
Advisor, Accounting Research and Development Foundation in Taiwan
Former Experience
Chairman, Hua Nan Financial Holdings
Chairman, Hua Nan Bank
Chairman, Land Bank of Taiwan
Political Deputy Minister, Ministry of Finance
Vice Chairman, Financial Supervisory Commission Republic of China (Taiwan)
Director-General, Securities and Futures Bureau, Financial Supervisory Commission Republic of China (Taiwan)
Secretary-General, Taiwan Financial Services Roundtable
Independent Director
Pei-Pei Yu
Main Education
The University of British Columbia - Master of Business Administration (MBA)
National Chengchi University - Bachelor of Money and Banking
Main Experience
Member of Audit Committee
Member of Remuneration Committee
Member of Corporate Sustainability Committee
Chairman and CEO, Vigor Kobo
Independent Director, Wistron Corporation
Director, Hong Ting Investment Management Limited
Former Experience
Chairman, Zoyi Venture Capital
Managing Director, Goldman Sachs (Asia) L.L.C.(Hong Kong)
President, Goldman Sachs (Asia) L.L.C. Taipei Branch
Assistant Vice President, Union Bank of Switzerland Taipei Branch
Manager, Citibank Taiwan, Taipei Branch
Independent Director
Denny
Cheng-Hung, Kuo
Main Education
M.B.A., National Taiwan University
Main Experience
Member of Audit Committee
Member of Remuneration Committee
Member of Corporate Governance and Nomination Committee
Independent Director, TCM Biotech International Corp.
Former Experience
CEO and Chairman, Deloitte Taiwan
Chairman, TN Soong Foundation
Independent Director
James
Wei, Wang
Main Education
M.B.A., Harvard Business School, USA
M.E., Carnegie Mellon University, USA
Main Experience
Member of Audit Committee
Chairman and CEO, Sercomm Corporation
Independent Director, Formosa International Hotels Corporation
Former Experience
President, Sercomm Corporation

Board of Directors Operations

Board Professionalism and Independence

Cathay Financial Holdings has established the Corporate Governance and Nomination Committee and adopted the “Candidate Nomination System”. All the board candidates are nominated by the Corporate Governance and Nomination Committee and subject to qualifications review. After reaching a board resolution, the list is sent to the shareholders’ meeting for election.

According to Paragraph 3, Article 30 of the “Corporate Governance Best Practice Principles”, The members of the Board of Directors shall possess the knowledge, skills, and experience necessary for performing their duties. To achieve the ideal goal of corporate governance, the Board of Directors shall possess the following abilities:
  • Ability to make operational judgments
  • Ability to perform accounting and financial analysis
  • Ability to conduct management administration
  • Ability to handle crisis management;
  • Knowledge of the industry;
  • An international market perspective
  • Leadership
  • Ability to make policy decisions;
  • Risk management knowledge and skills.

The company completed the election of its ninth Board of Directors on June 13, 2025. Among the newly elected Independent directors, Mr. Denny Cheng-Hung Kuo possesses professional experience and expertise in business, finance, accounting, information technology, while Mr. James Wei Wang has professional experience and expertise in business, finance, information technology, and overseas markets.

Among the newly elected director, Mr. Tzung-Han Tsai has extensive experience and expertise in financial, business, economics, law, overseas markets, and mergers & acquisitions, while Mr. Chung-Yan Tsai brings experience and expertise in business, financial, construction, and healthcare management.

Overall, the Board of Directors possesses a diverse range of professional knowledge and skills, including business, finance and accounting/economics, law, financial, mathematics/actuarial science, digital finance, financial technology, information and communication technology, healthcare management, overseas markets/mergers and acquisitions, and risk management.

This composition is in line with the board diversity requirements set forth in the Company’s “Corporate Governance Best Practice Principles” and supports the Group’s strategic priorities of “globalization”, “digitalization”, and “financial innovation and applications”.

In 2025, the Board of Directors convened a total of nine meetings, with an attendance rate of 100%, and an average tenure of 8.9 years.

Board Diversity

Cathay Financial Holdings’s board of directors has been adequately diversified in terms of age, industry experience, professional knowledge and capability.

In order to strengthen corporate governance and facilitate the sound development of the board makeup and structure, in Paragraph 2, Article 30 of the “Corporate Governance Best Practice Principles”, the policy of “board member diversification” points out that the composition of the Board of Directors shall be determined by giving due consideration to operational structure, business development direction, future trends and other needs, and it is advisable to assess aspects of diversity including but not limited to:

  • Basic compositions (e.g., gender, age, nationality and race)
  • Professional experience (e.g., financial holding, banking, insurance, securities, industry and technology)
  • Professional knowledge and skills (e.g., business, finance, accounting, law, marketing and digital technology)

The Company currently has thirteen directors on the 9th Board of directors, including seven non-executive directors, five independent directors, and one executive director (the Company’s President Mr. Chang-Ken Lee). The Board members collectively possess extensive experience and expertise in financial, digital finance, information technology, business, overseas markets, mergers and acquisitions, and management.

The board has 8% of directors concurrently serving as employees (Mr. Chang-Ken Lee), independent directors account for 38% of all directors, and female directors (Ms. Li-Ling Wang and Ms. Pei-Pei Yu) account for 15% of all directors. The average tenure of the five independent directors is 3.5 years, two independent directors have served for 3 years or less, one has served for 3.5 years and two have served for 6.5 years.

The average age of Board members is 63. Specifically two directors are aged 71-79, eight are aged 61-70, one is aged 51-60 and two are aged 41-50.

The Company attaches great importance to the diversity of industry and professionalism of the board members. The goal is that each board of directors should have at least one director with banking, insurance and securities expertise, and directors of different genders should also have at least one seat each. The current Board of Directors has 8, 10 and 6 directors who meet the aforementioned professional diversity goals, and the proportion of 2 female directors, which is in line with the aforementioned diversity goals. The next term of the Board is also expected to meet this objective.

The implementation of Company’s board diversity policy is summarized in the table below.

Cathay FHC's Implementation of the Board Diversity Policy

Board Composition
Basic Composition/Industry Experience & Professional knowledge/skills
Directors
Name		 Nationality/place
of registration		 Gender Concurrent positions
in our company		 Age Tenure of
Independent Director
41-50 51-60 61-70 71-79 < 3 3-6 >6-9
Hong-Tu Tsai R.O.C. M 71-79 None ✔
Financial Holdings Insurance
Commerce Legal Financial Overseas
Markets/
M&A Risk
Management
Tzung-Han Tsai R.O.C. M 41-50 None ✔
Financial Holdings Insurance
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Cheng-Chiu Tsai R.O.C. M 51-60 None ✔
Financial Holdings Bank
Commerce Financial Overseas
Markets/
M&A Risk
Management
Chi-Wei Joong R.O.C. M 61-70 None ✔
Financial Holdings Insurance
Commerce Financial
Chung-Yan Tsai R.O.C. M 41-50 None ✔
Financial Holdings Bank Securities Digital Finance/
Financial Technology
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Andrew
Ming-Jian Kuo		 R.O.C. M 61-70 None ✔
Financial Holdings Bank Insurance Securities Asset Management Information/
Technology/
Others
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Ming-Ho Hsiung R.O.C. M 71-79 None ✔
Financial Holdings Insurance
Commerce Financial Mathmatics/
Actuarial
Science Overseas
Markets/
M&A Risk
Management
Chang-Ken Lee R.O.C. M 61-70 Yes ✔
Financial Holdings Insurance
Commerce Finance/
Accounting Financial Mathmatics/
Actuarial
Science Overseas
Markets/
M&A Risk
Management
Li-Ling Wang R.O.C. F 61-70 None ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A Risk
Management
Tang-Chieh Wu R.O.C. M 61-70 None 6-9 (*) ✔ ✔
Financial Holdings Bank Insurance Securities Information/
Technology/
Others
Commerce Finance/
Accounting IT Overseas
Markets/
M&A
Pei-Pei Yu R.O.C. F 61-70 None 6-9 (*) ✔ ✔
Financial Holdings Bank Information/
Technology/
Others
Commerce Finance/
Accounting
Denny
Cheng-Hung, Kuo		 R.O.C. M 61-70 None < 3 ✔ ✔
Financial Holding Banking Insurance Securities Asset Management
Commerce Finance/
Accounting Financial Risk
Management
James
Wei, Wang		 R.O.C. M 61-70 None < 3 ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management
Commerce Finance/
Accounting/
/Economics Financial Overseas
Markets/
M&A
Industry Experience and Professional Knowledge and Skills
Director
Name		 Experience
Financial Holding Banking Insurance Securities Asset Management Digital Finance/
Financial Technology		 Information/
Technology/
Others
Hong-Tu Tsai ✔ ✔
Financial Holdings Insurance
Tzung-Han Tsai ✔ ✔ ✔ ✔
Financial Holdings Bank
Cheng-Chiu Tsai ✔ ✔
Financial Holdings Insurance
Chi-Wei Joong ✔ ✔ ✔ ✔
Financial Holdings Insurance
Chung-Yan Tsai ✔ ✔ ✔
Financial Holdings Bank Securities Digital Finance/
Financial Technology
Andrew
Ming-Jian Kuo		 ✔ ✔ ✔ ✔ ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management Information/
Technology/
Others
Ming-Ho Hsiung ✔ ✔
Financial Holdings Insurance
Chang-Ken Lee ✔ ✔ ✔ ✔ ✔
Financial Holdings Insurance
Li-Ling Wang ✔ ✔ ✔ ✔ ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management
Tang-Chieh Wu ✔ ✔ ✔ ✔ ✔
Financial Holdings Bank Insurance Securities Information/
Technology/
Others
Pei-Pei Yu ✔ ✔ ✔ ✔ ✔ ✔
Financial Holdings Bank Information/
Technology/
Others
Denny
Cheng-Hung, Kuo		 ✔ ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management
James
Wei, Wang		 ✔ ✔
Financial Holdings Bank Insurance Securities Asset Management
Directors
Name		 Professional knowledge and skills
Business Finance/
Accounting/
/Economics		 Law Financial Mathematics/
Actuarial
Science		 Information Technology Overseas
Markets/
Mergers and Acquisitions		 Risk
Management
Hong-Tu Tsai ✔ ✔ ✔ ✔
Commerce Legal Financial Overseas
Markets/
M&A Risk
Management
Tzung-Han Tsai ✔ ✔ ✔ ✔ ✔
Commerce Financial Overseas
Markets/
M&A Risk
Management
Cheng-Chiu Tsai ✔ ✔ ✔ ✔
Commerce Financial
Chi-Wei Joong ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Chung-Yan Tsai ✔ ✔
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Andrew
Ming-Jian Kuo		 ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A
Ming-Ho Hsiung ✔ ✔ ✔ ✔ ✔ ✔
Commerce Financial Mathmatics/
Actuarial
Science Overseas
Markets/
M&A Risk
Management
Chang-Ken Lee ✔ ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Mathmatics/
Actuarial
Science Overseas
Markets/
M&A Risk
Management
Li-Ling Wang ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A Risk
Management
Tang-Chieh Wu ✔ ✔ ✔ ✔
Commerce Finance/
Accounting IT Overseas
Markets/
M&A
Pei-Pei Yu ✔ ✔ ✔ ✔
Commerce Finance/
Accounting
Denny
Cheng-Hung, Kuo		 ✔ ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Risk
Management
James
Wei, Wang		 ✔ ✔ ✔ ✔
Commerce Finance/
Accounting Financial Overseas
Markets/
M&A

Evaluation of the Board and Functional Committee’s Performance and Third-party Certification

To strengthen corporate governance and enhance the effectiveness of the Board of Directors and its committees, Cathay Financial Holdings has established the "Guidelines for Evaluation of Directors’ Performance" and the "Guidelines for Directors’ Remuneration". In addition, the Company has formulated the "Regulations for Performance Evaluation of the Board and Functional Committees" to assess the overall operations of the Board and its functional committees. These regulations incorporate sustainability–related performance indicators, including "regulatory compliance", "corporate governance", "risk management", and "corporate sustainability & corporate social responsibility", to ensure that the Board of Directors and its committees effectively fulfill their responsibilities in corporate governance, business operations, and the implementation of sustainability initiatives, thereby guiding the Company toward long‑term sustainable development.

To further strengthen the independence and effectiveness of the Board performance evaluation, the company has, since 2017, engaged an external independent professional institution or experts and scholars to conduct an external Board performance evaluation at least once every three years. The company commissioned the “Taiwan Institute of Ethical Business” to conduct such external evaluations in 2019, 2022, and 2025, covering the performance years of 2018, 2021, and 2024, respectively. Based on the Institute’s optimization recommendations, the company has reviewed and implemented enhancement measures accordingly.

In addition, since June 15, 2007, the company has maintained Directors and Officers (D&O) liability insurance to cover the liabilities arising from the performance of duties by directors, supervisors, and key officers of the Company and its subsidiaries over the course of their duties. Terms of this insurance policy are reviewed on a yearly basis, and since 2017, main details such as the sum assured, the scope of coverage and premium rate are reported to the upcoming board meeting after annual renewal. This insurance exists to reduce the amount of risk borne by directors, supervisors and the Company, as well as to enforce the corporate governance system.

Related Files

Execution of Board Performance Evaluation
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