Tan Sri The Malay language has a complex system of styles, titles and honorifics which are used extensively in Brunei, Indonesia, Malaysia, Singapore, and the southern Philippines. Brunei, Malaysia, Singapore and several provinces in Indonesia regul ...

Andrew Sheng (born 1946) is Hong Kong-based

Malaysian Malaysian may refer to: * Something from or related to Malaysia, a country in Southeast Asia * Malaysian Malay, a dialect of Malay language spoken mainly in Malaysia * Malaysian people, people who are identified with the country of Malaysia regard ...

banker, academic and commentator. He started his career as an accountant and is now a distinguished fellow of Fung Global Institute, a global think tank based in Hong Kong. He served as chairman of the

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

Securities and Futures Commission The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. The SFC is responsible for fostering an orderly securities and futures market ...

(SFC) before his replacement by

Martin Wheatley Martin Wheatley is a British financier, formerly managing director of the Consumer and Markets Business Unit of the Financial Services Authority in the UK, and is the former CEO of the Financial Conduct Authority. In London Wheatley worked for t ...

in 2005.

Early life

Sheng grew up in

British North Borneo (I persevere and I achieve) , national_anthem = , capital = Kudat (1881–1884);Sandakan (1884–1945); Jesselton (1946) , common_languages = English, Kadazan-Dusun, Bajau, Murut, Sabah Malay, Chinese etc. , gove ...

(today

Sabah Sabah () is a States and federal territories of Malaysia, state of Malaysia located in northern Borneo, in the region of East Malaysia. Sabah borders the Malaysian state of Sarawak to the southwest and the North Kalimantan province of Indone ...

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

). He left Malaysia in 1965 to attend the

University of Bristol , mottoeng = earningpromotes one's innate power (from Horace, ''Ode 4.4'') , established = 1595 – Merchant Venturers School1876 – University College, Bristol1909 – received royal charter , type ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

, where he studied economics.

Career

Following his graduation, Sheng moved to

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

and joined

Arthur Andersen Arthur Andersen was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations. By 2001, it had become one of the world's largest multinational corporat ...

to train as a chartered accountant. After seven years in England, he returned to Malaysia in 1972, and four years later took up a position at

Bank Negara Malaysia The Central Bank of Malaysia (BNM; ms, Bank Negara Malaysia) is the Malaysian central bank. Established on 26 January 1959 as the Central Bank of Malaya (''Bank Negara Tanah Melayu''), its main purpose is to issue currency, act as banker and ad ...

, where he did work involving banking regulation. In 1989 he was seconded to the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

office in

Washington, DC ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan ...

; he came back to Asia in 1993 to serve as deputy chief executive of the

Hong Kong Monetary Authority The Hong Kong Monetary Authority (HKMA) is Hong Kong's central bank, central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. Th ...

. After that, he was appointed to his position on Hong Kong's SFC in October 1998;

Tung Chee Hwa Tung Chee-hwa (; born 7 July 1937) is a Hong Kong businessman and politician who served as the first Chief Executive of Hong Kong between 1997 and 2005, upon the transfer of sovereignty on 1 July. He is currently a vice-chairman of the Chine ...

re-appointed him in October 2003 for a further two years. In 2005, he stepped down in favour of Wheatley, who had joined the SFC the year prior after being removed from his position at the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

. Sheng became president o
Fung Global Institute
an independent, global think tank based in Hong Kong, in 2011. , Sheng is also the chief adviser to the

China Banking Regulatory Commission The China Banking Regulatory Commission (CBRC) was an agency of the People's Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are spec ...

and a board member of

Khazanah Nasional Berhad Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia, entrusted with growing the nation's long-term wealth via distinct commercial and Strategic planning, strategic objectives. Khazanah's commercial objective is t ...

, Malaysia. In addition, he serves as a member of the International Advisory Council of the

China Investment Corporation China Investment Corporation (CIC) (Chinese: 中国投资有限责任公司; pinyin: ''zhōngguó tóuzī yǒuxiàn zérèn gōngsī'') is a sovereign wealth fund that manages part of the People's Republic of China's foreign exchange reserves. C ...

, the

China Development Bank The China Development Bank (CDB) () is a development bank in the People's Republic of China (PRC), led by a cabinet minister at the Governor level, under the direct jurisdiction of the State Council. As one of three policy banks in China, it ...

, the Advisory Council on Shanghai as an International Financial Centre and the International Council of the

Free University of Berlin The Free University of Berlin (, often abbreviated as FU Berlin or simply FU) is a public research university in Berlin, Germany. It is consistently ranked among Germany's best universities, with particular strengths in political science and t ...

. He is also an adjunct professor at the

Tsinghua University School of Economics and Management Tsinghua University School of Economics and Management (abbreviation: Tsinghua SEM; Chinese: 清华大学经济管理学院, ''qīng huá dà xué jīng jì guǎn lǐ xué yuàn ''), is the business school of Tsinghua University in Beijing, China. ...

, Beijing and the

University of Malaya The University of Malaya ( ms, Universiti Malaya, UM; abbreviated as UM or informally the Malayan University) is a public research university located in Kuala Lumpur, Malaysia. It is the oldest and highest ranking Malaysian institution of highe ...

, Kuala Lumpur. In 2013, Sheng was awarded by the Hong Kong Securities and Investment Institute (HKSI) as honorary fellow. In 2013, ''

Time Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...

'' magazine named Sheng as one of the 100 most influential people in the world. Since 2011, Sheng has written columns for

Project Syndicate Project Syndicate is an international media organization that publishes and syndicates commentary and analysis on a variety of global topics. All opinion pieces are published on the ''Project Syndicate'' website, but are also distributed to a wi ...

, a non-profit international media organization.

Works

Quotes

*"Why should a financial engineer be paid four to a hundred times more than a real engineer? A real engineer builds bridges. A financial engineer builds dreams and, when those dreams turn out to be nightmares, other people pay for it." —Andrew Sheng, in an interview for the 2010 financial industry documentary ''

Inside Job An insider threat is a malicious threat to an organization that comes from people within the organization, such as employees, former employees, contractors or business associates, who have inside information concerning the organization's security ...

''.

References

External links

Fung Global Institute
{{DEFAULTSORT:Sheng, Andrew 1946 births Living people Malaysian accountants Malaysian bankers Malaysian chief executives Malaysian people of Chinese descent Malaysian expatriates in Hong Kong People from Sabah