Corporate Governance

Board of Directors

Non-executive directors:
Prof. CHAN Ka Keung Ceajer (Chairman)

Prof. Chan was appointed as Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region from July 2007 to June 2017. Prior to that, he was Dean of Business and Management in the Hong Kong University of Science and Technology (HKUST). He is currently Adjunct Professor at HKUST Business School.

Prof. Chan received his bachelor's degree in economics from Wesleyan University and his M.B.A. and Ph.D. in finance from the University of Chicago. He specialised in assets pricing, evaluation of trading strategies and market efficiency and has published numerous articles on these topics.

Prof. Chan is a director of One Country Two Systems Research Institute and a member of Competition Commission. In the past, he held a number of public service positions including Chairman of the Consumer Council, Director of the Hong Kong Futures Exchange, and Member of the Commission on Strategic Development, Commission on Poverty, the Exchange Fund Advisory Committee, the Hang Seng Index Advisory Committee, and the Hong Kong Council for Academic Accreditation.

Mr. LOONG Pui Chi Simon

Mr. Loong is the Founder and Group CEO of WeLab Group. Mr. Loong has 25 years of fintech and banking experience. Prior to founding WeLab Group, Mr. Loong spent 15 years in the retail banking divisions of Citibank and Standard Chartered Bank. Mr. Loong has a master’s degree from Stanford Graduate School of Business and is a Fellow of Certified Public Accountant (Australia).

Mr. Loong is a pioneer in driving fintech development and financial inclusion in Asia. He is a strong believer and passionate about innovating the financial services industry with technology. He serves on key committees in both public and private sectors to drive the proliferation of the fintech ecosystem in Asia.

Mr. Loong has received multiple awards in recognition of his achievements including "CEO of the Year" by Capital CEO, “Innovation Leadership Achievement in Hong Kong” by The Asian Banker, “Asia’s Most Influential” by Tatler Asia, and “Vice-Chancellor's Achievement Award” by University of Sydney. Mr. Loong has also been named as “one of the 20 people shaping Hong Kong’s future” in the next 20 years by leading Chinese media outlet, YiCai.

Mr. LEUNG Chun Man Ernest

Mr. Leung is the Group Chief Operating Officer of WeLab Group. Mr. Leung has over 25 years of experience in the banking and finance industry. Prior to joining WeLab, Mr. Leung was the Singapore CEO and APAC COO at BNP Paribas Wealth Management. Mr. Leung previously held a number of leadership roles across key Asia markets with extensive experience ranging from corporate strategy, business creation and transformation, to chief executive and board responsibilities across consumer & private banking.

Mr. Leung is a director of Make-A-Wish Foundation of Hong Kong Limited and a member of New Business Committee of Financial Services Development Council. Mr. Leung holds a Bachelor of Commerce from the University of British Columbia, Canada.

Executive director:
Mr. LEE Ka Tat

Mr. Lee is the Chief Executive of Welab Bank Limited (“WeLab Bank”). Guided by his vision of empowering customers to handle their financial needs with fintech, Mr. Lee has engaged in the formation of WeLab Bank in 2018. Ever since, he has led the team to mark several important milestones, such as attaining the virtual bank license, establishing the mission and the positioning of WeLab Bank, leading the overall business development and so forth, making WeLab Bank a well-received virtual bank in Hong Kong.

Mr. Lee has two decades of retail banking and fintech experience. Mr. Lee joined WeLab Group, the parent company of WeLab Bank, back in 2013. He has assumed a number of roles in WeLab Group including General Manager and Head of Product and Risk Management of Welend Limited (“WeLend”), a direct online lending business under WeLab Group. Under his leadership, WeLend grew from a start-up to Hong Kong’s largest technology and AI powered pure online lending platform. Prior to joining WeLab Group, he held senior roles in leading international financial institutions, including HSBC and Standard Chartered Bank’s former consumer finance subsidiary, PrimeCredit.

Mr. Lee holds a Bachelor of Engineering (Computer Science) from Hong Kong University of Science and Technology.

Independent non-executive directors:
Mr. Donald Jeffrey ROBERTS

Mr. Roberts is a veteran CFO with over 40 years’ experience in a leading conglomerate, Hutchison Whampoa Limited, where he was Group Deputy CFO for 11 years. Donald is currently an Independent Non-Executive Director of CK Asset Holdings Limited, CK Life Sciences Int’l. (Holdings) Inc., HK Electric Investments Limited, NexGen Energy Ltd. and Queen’s Road Capital Investment. He was previously a member of the Executive Committee of The Canadian Chamber of Commerce in Hong Kong and is currently Governor of the Chamber.

Mr. Roberts holds a Bachelor of Commerce degree. He is a Chartered Accountant with the Chartered Professional Accountants of Canada, Alberta and British Columbia, and also a Fellow of the HKICPA.

Ms. CHANG Suk Ling Irene

Ms. Chang (Mrs Irene Chiu) has over 30 years of experience across different groups at Citibank until her retirement in 2019. Her last role was the Retail Credit Head for Citibank, a role she held from 2005 to 2019, covering Australia, Japan and Asia Pacific, with Europe added in the later years. She is a veteran in retail credit risk management and was responsible for independent risk oversight for Citi’s retail credit portfolios across 20 countries. Ms. Chang has extensive “through-the-cycle” experience in managing retail credit portfolios, building de novo businesses and through “boom and bust, and to recovery”.

Ms. Chang holds a Bachelor of Social Sciences degree from the University of Hong Kong.

Dr. LAM Lee G

Dr. Lam has over 30 years’ international experience in management, strategy and investment banking across telecommunications, media and technology, and financial services sectors. Dr. Lam was previously the Chairman of Hong Kong Cyberport Management Company Limited, Non-Executive Chairman – Greater China and ASEAN Region of Macquarie Infrastructure and Real Assets, and Senior Advisor, Macquarie Group Asia. Dr. Lam has served in leadership roles (including Chairman, Vice Chairman, Managing Director, CEO, COO and General Manager) with several multinational corporations and listed companies.

Dr. Lam is currently an Executive Director of Hong Kong Aerospace Technology Group Limited, and an Independent Non-Executive Director of Haitong Securities Company Limited and Huarong International Financial Holdings Limited. He is also a member of the Governance Committee of the Hong Kong Growth Portfolio and the Development Bureau Common Spatial Data Advisory Committee of the Hong Kong Special Administrative Region Government, Convenor of the Panel of Advisors on Building Management Disputes of the Hong Kong Special Administrative Region Government Home Affairs Department, and a member of the Hong Kong Trade Development Council Belt and Road and Greater Bay Area Committee.

Dr. Lam holds a BSc in Sciences and Mathematics, an MSc in Systems Science and an MBA from the University of Ottawa in Canada; an LLB (Hons) in law from Manchester Metropolitan University in the UK, a LLM in Law from the University of Wolverhampton in the UK; an MPA and a PhD from the University of Hong Kong.

Board Committees

The four specialized committees under the Board of Directors (the “Board”) of Welab Bank Limited (“WeLab Bank”), namely Audit Committee, Risk Committee, Nomination Committee and Remuneration Committee, are all chaired by an independent non-executive director and comprised of a majority of independent non-executive directors.

Audit Committee

The Audit Committee assists the Board in ensuring the adequacy of the internal control systems and reinforcing the work of internal audit function and external auditors and in fulfilling its duties through a review and supervision of WeLab Bank’s financial reporting. The Audit Committee oversees the establishment of WeLab Bank’s accounting policies and procedures, approves the internal and external audit plans periodically, reviews reports and recommendations provided by the internal and external audit function, and reports significant findings, if any to the Board in relation to any deficiencies in WeLab Bank’s internal control system.

Chairman: Mr. Donald Jeffrey ROBERTS*
Members: Ms. CHANG Suk Ling Irene*
Mr. LOONG Pui Chi Simon

Risk Committee

The Risk Committee ensures an appropriate risk management framework, overseeing and monitoring the various risks affecting WeLab Bank including technology risk. The Risk Committee reviews and supports the implementation of the risk management strategies, risk appetites and key risk policies based on the guidelines and directives of the Hong Kong Monetary Authority. The Risk Committee interacts regularly with and oversees the Chief Risk Officer and also receives regular risk reports from the Chief Risk Officer and the risk management function of WeLab Bank.

Chairman: Ms. CHANG Suk Ling Irene*
Members: Mr. Donald Jeffrey ROBERTS*
Dr. LAM Lee G*
Prof. CHAN Ka Keung Ceajer
Mr. LOONG Pui Chi Simon

Nomination Committee

The Nomination Committee leads the process for appointments to the Board and for identifying and nominating for the approval of the Board, candidates for appointment to the Board. The Nomination Committee is also responsible for identifying individuals suitably qualified to become members of senior management and selecting, or making recommendations to the Board on the selection of, individuals nominated for senior management positions (based on the role and its responsibilities and the knowledge, experience and competence which the role requires).

Chairman: Dr. LAM Lee G*
Members: Mr. Donald Jeffrey ROBERTS*
Ms. CHANG Suk Ling Irene*
Prof. CHAN Ka Keung Ceajer
Mr. LOONG Pui Chi Simon

Remuneration Committee

The Remuneration Committee formulates remuneration policy and remuneration proposals of all staff, in particular, Directors, Chief Executive, Alternative Chief Executives and senior management of WeLab Bank and overseeing its implementation. The Remuneration Committee in determining the remuneration proposals shall ensure consistency with WeLab Bank’s culture, long-term business and risk appetite, performance and control environment and relevant legal requirements and rules and guidance published by regulatory authorities.

Chairman: Dr. LAM Lee G*
Members: Mr. Donald Jeffrey ROBERTS*
Mr. LOONG Pui Chi Simon

* independent non-executive director