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FTSE Group and Xinhua Finance have appointed Norman Yen as Managing Director of their joint venture, Xinhua FTSE Index (XFI), effective December 15, 2006. Norman is to oversee the operations, sales and marketing functions of XFI to further strengthen the index provider’s position of market leadership, as indicated by its 46.8% market share among China equity index providers for new fund issues in 2006 (Source: Wind Information; in terms of number of funds benchmarking XFI).
Photo link of Mr. Norman Yen: www.xinhuafinance.com/NormanYen_XFI
Norman joins XFI from his most recent position as Managing Director of SunGard China, based in Beijing, where he was instrumental in firmly establishing the company’s operations in China. Previously, he was Principal at PricewaterhouseCoopers, responsible for driving the successful development of its financial consulting practice in Asia, while undertaking a variety of consultancy projects for Fortune 500 clients operating in the areas of finance, banking, insurance and investment.
Based in Shanghai, Norman succeeds Zhu Shan, who was the first Managing Director of XFI and who has been promoted to another important position of COO within a division of Xinhua Finance. As the first Managing Director of XFI, Zhu Shan was pivotal in successfully growing the business from a start-up company to its present status as market leader among China equity index providers.
Commenting on the appointment, Chief Executive of FTSE Group and Co-chairperson of XFI, Mr. Mark Makepeace said, “Norman’s management capability and seasoned leadership in international business will be a great asset to further develop XFI, both in China and overseas. He has a strong track record of building important and long lasting business relationships which will help fortify XFI’s leading position in the China marketplace.”
Ms. Fredy Bush, CEO of Xinhua Finance and Co-Chairperson of XFI, added, “We believe that, with the solid foundation laid by Zhu Shan, Norman will be able to drive our index business to another new height by taking advantage of his strategic thinking and special expertise in the financial sector. This new appointment accords well with our continued commitment to providing domestic and international investment communities with the best investment tools and assisting with the ongoing growth of China’s capital market”.
