Frances Yung Ming Fong (born 1972 with family roots in

Wuxi Wuxi (, ) is a city in southern Jiangsu province, eastern China, by car to the northwest of downtown Shanghai, between Changzhou and Suzhou. In 2017 it had a population of 3,542,319, with 6,553,000 living in the entire prefecture-level city ar ...

Jiangsu Jiangsu (; ; pinyin: Jiāngsū, Postal romanization, alternatively romanized as Kiangsu or Chiangsu) is an Eastern China, eastern coastal Provinces of the People's Republic of China, province of the China, People's Republic of China. It is o ...

) was the

director Director may refer to: Literature * ''Director'' (magazine), a British magazine * ''The Director'' (novel), a 1971 novel by Henry Denker * ''The Director'' (play), a 2000 play by Nancy Hasty Music * Director (band), an Irish rock band * ''D ...

of Group

Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

Department of

CITIC Pacific CITIC Limited () is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-own ...

. She is the

deputy chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

of CITIC Pacific Communications Limited and the director of Hong Kong Eastern Harbour Tunnel Company. She is the

daughter A daughter is a female offspring; a girl or a woman in relation to her parents. Daughterhood is the state of being someone's daughter. The male counterpart is a son. Analogously the name is used in several areas to show relations between group ...

of Larry Yung Chi Kin, the former chairman of CITIC Pacific.

2008 CITIC Pacific foreign exchange losses

In October 2008, Yung and other two senior executives were involved in an unauthorized

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

deals in

, which caused a

HK$ The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and ...

15.5 billion

loss Loss may refer to: Arts, entertainment, and media Music * ''Loss'' (Bass Communion album) (2006) * ''Loss'' (Mull Historical Society album) (2001) *"Loss", a song by God Is an Astronaut from their self-titled album (2008) * Losses "(Lil Tjay son ...

in the company. Then she was removed from the finance department and demoted with a

salary A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. ...

cut, confirmed by

Henry Fan Henry Fan Hung Ling, SBS, JP (; born 2 June 1948 in Shanghai, Republic of China with family roots in Ningbo, Zhejiang) was the managing director of CITIC Pacific and the vice-chairman of Cathay Pacific Airways. He is now the chairman of Hospita ...

, the CITIC Pacific's

managing director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

.How much did daddy's girl know?
/ref>

References

1972 births Living people Hong Kong businesspeople CITIC Group people {{China-bio-stub