The United States welcomes the appointment of Dominic Ng, Chairman and CEO of East West Bank, to the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC).
Mr. Ng and his ABAC counterparts from the other APEC economies will advise APEC Leaders on issues affecting the continued growth of the region's economy. In this role, Mr. Ng will provide recommendations reflecting the perspective of U.S. stakeholders. ABAC, created in 1995, consists of up to three business representatives from each APEC economy and is a key component of APEC's multi-stakeholder approach to trade and economic policies. ABAC meets throughout the year to discuss policy recommendations, undertakes activities to promote trade and investment as well as sustainable and inclusive growth, and reports annually to APEC Leaders.
Mr. Ng leads East West Bank, the largest publicly-listed independent bank headquartered in Southern California. Since joining the Bank in 1991, Mr. Ng transformed East West from a small savings and loan association with $600 million in assets into a global full-service commercial bank with assets over $62 billion today. Its 3,200 employees serve more than 600,000 customers worldwide. Bank Director ranked East West Bank No.1 Performing Bank in 2021 and top bank with the Best Board in 2022. Mr. Ng serves on the governing boards of Mattel, Inc., the University of Southern California, and the Academy Museum of Motion Pictures. He is a member of the Council on Foreign Relations and a board member of the 21st Century China Center of the University of California, San Diego. He is a former Chairman of the Committee of 100. Mr. Ng's previous board service also includes the Federal Reserve Bank of San Francisco, Los Angeles Branch; PacifiCare Health Systems; Asia Society; and the United Way of Greater Los Angeles.
Among the extensive recognitions for his business achievements and philanthropic impact, Mr. Ng was named one of Forbes' 25 most notable Chinese Americans; one of Los Angeles Times'100 most influential people in Los Angeles; and Business Person of the Year by the Los Angeles Business Journal. American Banker recognized Mr. Ng as Banker of the Year for successfully executing his vision while maintaining credit discipline and building East West into one of the nation's most profitable regional banks.
For more than 30 years, APEC has served as the premier economic platform for the United States to engage our regional partners on structural issues to advance an economic and trade architecture that opens markets, promotes high standards, and promotes sustainable and inclusive growth.
