PASADENA, Calif.--(BUSINESS WIRE)--May 23, 2023--
East West Bancorp, Inc. ("East West" or the "Company") (Nasdaq: EWBC), parent company of East West Bank, today announced the appointment of Dr. Jason Hsu, founder and Chief Investment Officer of Rayliant Global Advisors (“Rayliant”), as the Chief Economist for East West Bank. In tandem with Dr. Hsu’s appointment, East West Bancorp has signed a definitive agreement to acquire a non-controlling interest in Rayliant, the firm he founded in 2016 and will continue to run. This partnership will expand the Bank’s wealth management business and allow East West to provide institutional-quality investment management products and services to its clients. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions, including receipt of regulatory approvals.
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Rayliant founder and new East West Bank Chief Economist Dr. Jason Hsu (Photo: Business Wire)
“Dr. Hsu is a preeminent leader in the fields of finance and investment management, and we are delighted to welcome him as the Chief Economist of East West Bank,” stated Dominic Ng, Chairman and Chief Executive Officer of East West Bancorp. “As we celebrate East West Bank’s 50 th anniversary, we are looking ahead to help our clients reach further and benefit from investment and asset management services enhanced by Rayliant’s capabilities and Dr. Hsu’s expertise,” Ng concluded.
East West’s investment in Rayliant demonstrates the Bank’s ongoing commitment to enhance and expand its investment solutions available to clients. Since Rayliant’s founding, the firm has focused on synthesizing elements of behavioral finance, data science, and local market insights to create and deploy innovative investment strategies. Further, Dr. Hsu’s macroeconomic insights, combined with East West’s existing cross-border expertise will provide the Bank’s clients and partners with thoughtful analysis on the global economy and markets.
“East West Bank and Rayliant were both founded on a shared mission of serving as the bridge between the East and West. I look forward to helping the Bank capture new opportunities as we deliver upon this shared mission,” added Dr. Hsu. “As we help clients navigate the current global economic environment, it is crucial to employ strategies that create significant value for investors while helping them mitigate risks, prepare for uncertainty, and better understand market movements in the U.S., Asia, and beyond.”
Prior to founding Rayliant, Dr. Hsu was the co-founder and vice chairman of Research Affiliates, a leading provider of smart beta and asset allocation investment solutions. In addition to his current roles at Rayliant and East West Bank, Dr. Hsu also is a professor of Finance and a member of the Board of Directors at the Anderson School of Management at University of California Los Angeles (UCLA). He also has held visiting professorships at Tsinghua University, Kyoto University, and National Chengchi University.
To learn more or to set up a media interview, please contact corporatecommunications@eastwestbank.com.
About Rayliant Global Advisors
Rayliant develops innovative investment strategies that bring together elements of behavioral finance, data science, and local market insights. Rayliant’s strategies were used to manage $17 billion as of December 31, 2022. Its clientele includes institutional and high net worth investors globally. The firm has offices in Hong Kong, Los Angeles, London, Shanghai, Hangzhou, and Taipei. For more information about Rayliant, please visit www.rayliant.com.
About East West Bank
East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: “EWBC”) with total assets of $67.2 billion. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 120 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit www.eastwestbank.com.
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corporatecommunications@eastwestbank.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE
SOURCE: East West Bancorp, Inc.
Copyright Business Wire 2023.
PUB: 05/23/2023 04:30 PM/DISC: 05/23/2023 04:31 PM
http://www.businesswire.com/news/home/20230523006078/en
