Association of Asian American Bankers Turns 20
February 20, 2008
SAN FRANCISCO — Friendship, discussion and professionalism were the primary objectives Paul Ma envisioned when he established the Association of Asian American Bankers in 1987.
Originally an economist at the Federal Reserve Bank, Ma’s interest in promoting financial business to Asian Americans grew when he joined Far East National Bank. In an effort to unite members of the Asian American banking community, Ma used contacts from his previously held positions at the Federal Reserve, Small Business Administration and the California National Bank to invite senior commercial bankers with Asian market capacity to form the Association of Asian American Bankers.
“It is a professional networking association for individuals in the finance industry,” Far East National Bank Executive Vice President Ed Hon said. “It is not intended to be a political banking group. It is strictly a brotherhood organization for professionals.”
Hon, one of approximately 40 founding members of the Association, says the group currently has about 100 active members who represent 40 banking institutions around the Bay Area.
Membership is open to banking corporations, as well as all individuals from national banks, state-chartered commercial banks, agencies of foreign banks, and any federally insured savings banks or savings and loan associations.
On Dec. 7, 2007, the Association celebrated its 20th anniversary with a holiday dinner at Yank Sing Restaurant, attended by more than 160 bankers and guests. Amid the festivities, members elected the 2008-2009 board of directors, comprised of senior executives from institutions including Bank of the Orient, Cathay Bank, China Trust Bank, Innovative Bank, Transpacific National Bank and Far East National Bank.
In turn, the board of directors elected the organization’s officers. Michael Lai, executive VP of the East West Bank, was chosen to succeed Irene Yee Riley, San Francisco Housing Authority commissioner, as president. Eleanor Chang, senior VP of the United Commercial Bank, was elected vice president. Philip Lee, vice president and manager of the Shanghai Commercial Bank, was elected treasurer. And Stuart Keirle, president and CEO of the America California Bank, was reelected as secretary.
Under the leadership of the four officers, each director is assigned a responsibility, such as membership development, director nomination and fund raising, that helps further the growth of the organization. Each officer and director serves a two-year term.
Several times a year, the directors and officers coordinate informational seminars and networking events for members of the Association. In the past, the group has hosted an array of guests, most notably Brian Yuen, chief examiner of the Department of Financial Institutions and playwright David Henry Hwang, son of Far East National Bank founder Henry Hwang. Recently, the Association presented “A Primer on Tenants-In-Common Formation and Organization,” which discussed how individuals can maximize their real estate buying and selling power. According to Vice President Eleanor Chang, in 2008, the group plans to collaborate with other professional organizations to present speakers on topics such as “Subprime Mortgages” and “The Shrinking U.S. Dollar.” All events aim to connect members of the banking industry, and to provide a space for social interaction and a forum to discuss the latest financial news.
“We try to promote goodwill and friendship among bankers by getting them involved on a face-to-face basis,” Hon said.
Though Paul Ma passed away in 1989, the organization he established is still going strong.
With many officers and directors serving for the first time this year, Hon, the most seasoned director in the group, anticipates great things for the Association in the coming months. “We expect a lot of fresh ideas and new energy from the leaders this year,” he said.
Chang adds, “On a longer term basis, AAAB hopes to expand our services to help our members — regardless of whether they are individuals or financial institutions of any size — to succeed in the market place. As resources allow, we hope to develop and add more programs, including advocacy, education, career resources, which directly impact our members’ bottom line.”
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