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East West Bank Appoints Dr. Jason Hsu of Rayliant Global Advisors as Chief Economist
PASADENA, Calif.--(BUSINESS WIRE)-- East West Bancorp, Inc. ("East West" or the "Company") (Nasdaq: EWBC), parent company of East West Bank, today announced
About this update from East West Bancorp, Inc.
[{"type":"text","content":" PASADENA, Calif.--(BUSINESS WIRE)--\nEast 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.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230523006078/en/Rayliant founder and new East West Bank Chief Economist Dr. Jason Hsu (Photo: Business Wire)\n“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 50th 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.\n\n\nEast 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.\n\n\n“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 th...