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Fuhwa Financial Group originated from Fuhwa Securities Finance Co. As market conditions changed, the company expanded into securities, banking and asset management fields by establishing Fuhwa Securities, Fuhwa Bank, Fuhwa Futures, Fuhwa Securities Investment Trust and others, and has now amassed nine subsidiaries and one foundation under its corporate umbrella. Its compact service network, specialization in financial services, and comprehensive business scope has set the standard for financial service groups.
Established in 1980, Fuhwa Securities Finance became the first and the biggest provider of margin trade in the domestic securities market. In order to continue its expansion of services to meet the demand of the clients in the market, Fuhwa Securities Finance has put its stakes in four subsidiaries since 1996 and expanded its horizon in securities, futures, investment trust and capital management.
In the wake of the legislation on Financial Institution Merger and Financial Holding Company laws, the financial services industry has moved towards integrating financial products and erasing the boundaries dividing different financial markets. To remain competitive in this new financial services frontier, Fuhwa Financial Group adjusted its strategy to focus on synergistic development, culminating in Fuhwa Securities Finance and Fuhwa Securities combining to swap 100% of their shares and established Fuhwa Financial Holdings on February 4, 2002 .
In order to maximize the capital flexibility and management efficiency of the holding company, Fuhwa Financial Holdings acquired Fuhwa Futures and Fuhwa Capital Management companies which were originally invested by Fuhwa Securities Finance and Fuhwa Securities at the same time, and turned these indirect subsidiaries into direct subsidiaries. In August 2002, Fuhwa Financial Holdings reduced its paid-in capital by NT$2.5 billion to improve its capital utilization efficiency.
In order to broaden the scope of operation of the group, Fuhwa Financial Holdings further acquired Fuhwa Commercial Bank (formerly known as Asia Pacific Bank) through shares transfer and absorbed the Fuhwa Securities Investment Trust as another subsidiary. For making the financial service solutions complete for its clients with the best one-stop services, the group also established Fuhwa Venture Capital, Fuhwa Financial Consulting and Fuhwa Asset Management companies.
Fuhwa Financial Group operates across the industries of securities finance, securities, banking, futures, investment trust, capital management, venture capital, asset management and financial consulting. In addition, the group also integrated with the insurance agency sector to make its territory in financial services complete and second to none. In 2004, the group further crossed the boundaries among its subsidiaries, and structured a functional organization. In so doing, the group set up four business units, Corperate Finance Unit, Wealth Management Unit, Consumer Banking Unit and Investment Unit, and two centers, Risk Management Center and Operation Center . The group enhances the efficient utilization of group resources and cross-functional communications through the operation of these units and centers.
In the future, Fuhwa Financial Group will provide more diverse and integrated financial related services for its clients, given the refined divisions of different bussinesslines and the service network, and its professional management team and capacity in product innovation. The group will achieve a win-win situation for itself and for the investment public. The group will also seek to integrate the resources and competence of the group in strengthening the competitive power of individual operation in the market through the effort of its professional team and capacity in product innovation. The vertical and horizontal divisions of the operations and the fully covered business service network offers the clients diverse and complete financial services. |