‘Patient opportunist’ who won’t miss the boat
Yunfeng Financial Group boss Li Ting calls herself a “patient opportunist”, putting new and meaningful tasks to the test and embracing the challenges.
“You have to react quickly at all times, grab the fleeting opportunities in the market and correct the errors immediately, otherwise, you’ll never get it again,” says the chief executive officer of the financial services arm of Jack Ma’s Alibaba Group, alluding to the Chinese saying “once you’re past Suzhou, you’ll miss the boat.”
Li prides herself on an impressive career record — landing her first job at leading
be for Asian companies going through investments and mergers and acquisitions to become real international companies, and Yunfeng wants to be a part of that process.
The global asset allocation of individual investors is just the beginning, says Li, believing that foreign institutions will not be able to better serve Asia’s retail investors.
Strategy-wise, Yunfeng will position itself as a comprehensive financial services provider in corporate finance, focusing on mergers and acquisitions of companies, and employee stock ownership plans for listed companies and those planning to go public, as well as brokerage and wealth management world wealth management corporation State Street as a risk manager with the trading desk — after graduating from Wallace E. Carroll Graduate School of Management, Boston College.
Her diligence in studies won her the chance to work for State Street. She recalls having detected a textbook error and bringing it up with her professor at university. She was given top marks for that initiative and when she applied for a post at State Street, the corporation rang up the university following a recommendation by the professor.
Li expresses gratitude for having “grown up” with State Street for 14 years and being given the opportunity to assume various roles in Hong
Compared with Ant Financial, which is also backed by Alibaba Group, Li says Yunfeng provides financial services through technology mostly to less wealthy people, while the former is a “tech-fin” company that concentrates on technology-related businesses.
On financial innovation, Li says the new business model is created by Chinese people amid the technology and innovation boom, rather than imitating the mature business models in the US, and this is a big difference compared with the situation 10 years ago.
However, the US financial market is more mature and the degree of its coverage of financial services is much higher, but the traditional financial market Kong and the United States, including portfolio risk manager, portfolio manager for US fixed income, head of risk of Asia Pacific, managing director and head of China market development, senior managing director and head of Asia ex-Japan.
She felt it was a breakthrough when she was approached by Yunfeng’s management, allowing her to embark on a new journey with a company she has now been with for the past two years.
She saw the potential for developing the robot-adviser to fill the market vacancy and build up an ecosystem linking business institutions with retail investors.
Li defines her job at Yunfeng as being very different from
has not been overturned by fintech companies yet as the latter make up only a small part of the market.
Li praised the hardworking and dedicated attitude of the Chinese people that has contributed to the technology fever on the mainland, complemented by a huge and quality labor force, as well as a vast market and adequate capital and the government’s encouragement, although the fast pace of fintech development has given rise to problems, including instability.
She recalls that 12 years ago, when she first came to work in Hong Kong, she felt the super convenience of the Octopus card, but there’s still no big change in terms of payment methods at present. On the mainland, payment for goods her previous experience, working for a well-established financial enterprise where people still have a “safety zone” to follow the rules while in a startup company.
“Then, you need to be really fast and accurate, and no one will tell you if you’re going in the right or wrong direction.”
Li also offers a rather intimate warning for the younger generation — a rolling stone gathers no moss. They have to be steadfast and clear in their work and discard the mentality that they must hit their first pot of gold before 30.
“People in their 20s should focus on improving their abilities. You should be clear about your core strength and develop it to the fullest. It will pay off one day.”
and services has been made super convenient.
Although Hong Kong, which had gone through major financial crises in the past two decades, has been more conservative in introducing financial regulations in the past 10 years, she would like to see the financial regulator redefining the city’s strategic position to remain as an international financial hub.
Li thinks Hong Kong presents enormous opportunities ahead and could play a bigger role in the region, adding that Yunfeng may cooperate with companies along the Belt and Road Initiative countries and regions.
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Yunfeng Financial Group CEO Li Ting says the hardworking and dedicated attitude of the Chinese people has contributed to the rapid spread of technology on the mainland. Li Ting, chief executive officer of Yunfeng Financial Group