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History

2011

On October 3, 2011, Yuanta Financial Holdings and Polaris Securities merged, with Polaris becoming a wholly-owned subsidiary of Yuanta FHC.

Each share of Polaris Securities received NT$ 11.55 in cash plus 0.5475 share of Yuanta FHC, resulting in the issuance of 1,170,839,446 new shares.

2010

In order to strengthen corporate governance, Yuanta Financial Holdings and its subsidiaries, Yuanta Securities and Yuanta Bank, established their remuneration committees in 2010. These committees’ major powers and duties include setting criteria for the performance evaluation and remuneration of the management, establishing a structure and system for the remuneration of directors, and reviewing their respective company’s overall human resources strategy so as to assist the board of directors in developing a fair and rational remuneration system and make relevant information more transparent.

2009

After a three-year overhaul, Yuanta Bank (a subsidiary of Yuanta FHC) achieved profitability in 2009 and its asset quality currently exceeds industry standards.

2008

Yuanta Financial Holdings subsequently controlled two securities investment trust companies, Yuanta Securities Investment Trust and Fuhwa Securities Investment Trust. In compliance with the Securities Investment Trust and Consulting Act, the company disposed of all equity in Fuhwa Securities Investment Trust on October 24, 2008, selling it to the Manulife subsidiary, Manulife Asset Management (Hong Kong) Limited.

 

2007

On April 2, 2007, Fuhwa Financial Holding Company and Yuanta Core Pacific Securities merged. The newly combined entity had NT$ 83.1 billion in capital and 220 branch locations around Taiwan. In June, shareholder voted to change the name of the company to Yuanta Financial Holdings. On September 23, the two securities firms under Yuanta Financial Holdings were merged and the name changed to Yuanta Securities.


2006

With a new management team already in place for over a year driving significant changes at Fuhwa, obvious results emerged in areas of profit potential and expansion of business locations. From the first quarter of 2006, the securities and trust businesses turned their performance around. In order to increase market share, Fuhwa Bank enlarged its footprint, and as of May had a total of 70 branch outlets, up from 58 at the end of 2005.

To raise Fuhwa's international visibility and highlight its vision of promoting good corporate governance, Fuhwa Cultural & Educational Foundation sponsored the 2006 Corporate Governance and Taiwan's Capital Markets conference.

In addition, the company decided to elect independent directors and establish an audit committee at its next election of board members in 2007 as well as implement related internal regulations to carry out best corporate governance practices.


2005

Yuanta Core Pacific Securities successfully acquired a majority stake in Fuhwa FHC, taking management control of the group. At the 2005 meeting of shareholders convened on June 29, directors and supervisors were re-elected. Under new leadership, efforts began to re-structure the organization along strategic business lines, in which the banking, securities and securities financing began to take on a guiding role for all other, smaller subsidiaries. Meanwhile, banking was re-aligned using a profit-center structure and divided into four major business divisions: corporate banking, consumer banking, financial services, and financial markets, with administration and risk management designated as back-office divisions.


2004

Three years since its founding, 2004 marked the second year of Fuhwa's resource integration, restructuring and business scale expansion. The entire Fuhwa Financial Group operated at 112 branch locations, an increase of 16 from 2003. In October 2004, Fuhwa Securities and Fuhwa Futures collaborated to establish Fuhwa Managed Futures Co., Ltd. By year-end, as a comprehensive financial services provider, Fuhwa Financial Group extended across securities financing, securities, banking, futures, capital management, trusts, venture capital, asset management and financial consulting businesses, and provided insurance as an agent.


2003

Amid consolidation in the financial industry and unhealthy levels of NPLs, Fuhwa established Fuhwa Financial Consulting Corp. and Fuhwa Asset Management Corp.


2002

Following the passage of the Financial Institutions Merger Act and Financial Holding Company Law encouraging mergers among financial institutions and integration of financial products across business lines, Fuhwa Financial Holding Company (Fuhwa FHC) was formed on February 4, 2002 through a 100% equity swap between Fuhwa Securities Finance and Fuhwa Securities. This created a platform to leverage resources of the two business lines to enhance profitability and provide customers with more diversified products and services.

In May 2002, Fuhwa Futures and Fuhwa Capital Management, both subsidiaries under Fuhwa Securities Finance were moved from underneath that company and became direct subsidiaries of the parent company, on the same level as Fuhwa Securities Finance and Fuhwa Securities. This gave Fuhwa FHC better control over all four of its subsidiaries, providing a platform to leverage resources and enhance profitability.

In August, Fuhwa FHC reduced its paid-in capital by NT$ 2.5 billion to improve its capital utilization efficiency. Fuhwa Commercial Bank (formerly Asia Pacific Bank) was acquired through a transfer of shares and Fuhwa Securities Investment Trust (formerly Asia Pacific Securities Investment Trust) was acquired as another subsidiary.

In December, Fuhwa Venture Capital was established. By this time, Fuhwa Financial Group operations spanned the securities finance, securities, banking futures, investment trust, capital management, venture capital, asset management and financial consulting businesses. In addition to this, Fuhwa Bank invested in Fuhwa Financial Insurance Agent Co. and Fuhwa Life Insurance Agent Co. and Fuhwa Leasing Co., giving Fuhwa a presence in a full range of financial services.

In addition to operating a comprehensive financial services firm, Fuhwa Cultural & Educational Foundation was founded in November as a channel for Fuhwa to actively contribute to social programs that seek to help less-advantaged individuals in society, and be a good example of corporate citizenship.


1996

Fuhwa Securities Finance started to conduct business in the areas of SPO fundraising, subscription loans and underwriting loans, bringing the scope of services of the securities financing business from the secondary market to the primary market. As the securities markets developed, the company began to enter other securities-related areas and from 1996 to 1998 increased its investment in Fuhwa Securities, Fuhwa Investment Trust, Fuhwa Futures, and Fuhwa Capital Management (formerly Fuhwa Securities Finance Capital Management).


1994

On November 25, 1994, Fuhwa Securities Finance officially went public. With the diligent work of executive management the company's business operations grew stronger, more efficient and operated with greater transparency, and the company's successful performance was enjoyed by an ever-expanding shareholder base.


1990

The Executive Yuan approved securities financing reforms, allowing the company to expand beyond conventional securities financing into the refinancing business, pushing the securities financing business into new territory. Because of this change, Fuhwa Securities Finance became the market leader in margin transactions.


1980

Fuhwa Financial Group's origin lies in Fuhwa Securities Finance, which was founded in April 1980. In order to establish a good securities financing service, the government carefully drew from Japan's and Korea's systems when it established Fuhwa Securities Finance. The vision of the company was to help the stock exchange grow, regulate the supply of money in the market, and establish a comprehensive securities financing system.




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