LONDON, HONG KONG and SHANGHAI, Jan. 8 /Xinhua-PRNewswire/ -- FTSE Group and Xinhua Finance have appointed Norman Yen as Managing Director of their joint venture, FTSE Xinhua Index (FXI), effective December 15, 2006. Norman is to oversee the operations, sales and marketing functions of FXI to further strengthen the index provider’s position of market leadership, as indicated by its 46.8% market share among China equity index providers for new fund issues in 2006 (Source: Wind Information; in terms of number of funds benchmarking FXI).
Photo link of Mr. Norman Yen: http://www.xinhuafinance.com/NormanYen_FXI
Norman joins FXI from his most recent position as Managing Director of SunGard China, based in Beijing, where he was instrumental in firmly establishing the company’s operations in China. Previously, he was Principal at PricewaterhouseCoopers, responsible for driving the successful development of its financial consulting practice in Asia, while undertaking a variety of consultancy projects for Fortune 500 clients operating in the areas of finance, banking, insurance and investment.
Based in Shanghai, Norman succeeds Zhu Shan, who was the first Managing Director of FXI and who has been promoted to another important position of COO within a division of Xinhua Finance. As the first Managing Director of FXI, Zhu Shan was pivotal in successfully growing the business from a start-up company to its present status as market leader among China equity index providers.
Commenting on the appointment, Chief Executive of FTSE Group and Co-chairperson of FXI, Mr. Mark Makepeace said, “Norman’s management capability and seasoned leadership in international business will be a great asset to further develop FXI, both in China and overseas. He has a strong track record of building important and long lasting business relationships which will help fortify FXI’s leading position in the China marketplace.”
Ms. Fredy Bush, CEO of Xinhua Finance and Co-Chairperson of FXI, added, “We believe that, with the solid foundation laid by Zhu Shan, Norman will be able to drive our index business to another new height by taking advantage of his strategic thinking and special expertise in the financial sector. This new appointment accords well with our continued commitment to providing domestic and international investment communities with the best investment tools and assisting with the ongoing growth of China’s capital market”.
More information about FTSE Xinhua Index Ltd and its product suite is available at http://www.ftsexinhua.com or from the press offices below.
Notes to Editors
About FTSE Xinhua Index
Established in late 2000, FTSE Xinhua Index (FXI), a joint venture between Xinhua Finance Limited and FTSE, came into being to facilitate the creation of real-time indices for the Chinese market. The indices can be used as a basis for the trading of derivatives, index-tracking funds, Exchange Traded Funds and as performance benchmarks. The combination of FTSE’s expertise in international indexing with Xinhua Finance’s strong presence and capabilities in China creates a level of expertise in the Chinese market that is unprecedented. Providing the combined coverage for the Shanghai and Shenzhen exchanges, all of the FTSE Xinhua indices are designed according to internationally proven index methodology to ensure products are transparent, clear and consistent. For daily data and further information, please visit http://www.ftsexinhua.com .
About FTSE Group
FTSE Group is a world-leader in the creation and management of indexes. With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo, FTSE Group services clients in 77 countries worldwide. It calculates and manages the FTSE Global Equity Index Series, which includes world-recognized indexes ranging from the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the prestigious FTSE 100. The company has collaborative arrangements with the Athens, AMEX, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ, Taiwan and Thailand exchanges, as well as Nomura Securities, Hang Seng and Xinhua Finance of China. FTSE also has a collaborative agreement with Dow Jones Indexes to develop a single sector classification system for global investors.
FTSE indexes are used extensively by investors world-wide for investment analysis, performance measurement, asset allocation, portfolio hedging and for creating a wide range of index tracking funds. Independent committees of senior fund managers, derivatives experts, actuaries and other experienced practitioners review all changes to the indexes to ensure that they are made objectively and without bias. Real-time FTSE indexes are calculated on systems managed by Reuters. Prices and FX rates used are supplied by Reuters.
About Xinhua Finance Limited
Xinhua Finance Limited is China’s unchallenged leader in financial information and media, and is listed on the Mothers board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China’s financial markets and the world, Xinhua Finance serves financial institutions, corporations and re-distributors through four focused and complementary service lines: Indices, Ratings, Financial News and Investor Relations. Founded in November 1999, the Company is headquartered in Shanghai with 20 news bureaus and offices in 19 locations across Asia, Australia, North America and Europe. For more information, please visit http://www.xinhuafinance.com .
