Qualification Programme (Qp) Case Analysis Competition 2010 the Case Omega Asia Bank Omega Asia Bank Limited Is a Full-Fledged Banking and Financial Services Group
Qualification Programme (QP) Case Analysis Competition 2010 The case Omega Asia Bank
Omega Asia Bank Limited is a full-fledged banking and financial services group, with a head office located in Hong Kong, and with operations in Macau and Manila. The bank is a “licensed bank” under the supervision of the Hong Kong Monetary Authority (HKMA). The bank offers a wide range of banking and finance services including: deposit taking, trade financing, treasury services, commercial loans, consumer loans, investment and merchant banking services, and insurance underwriting and agency services.
Group History The origins of Omega Asia Bank Limited may be traced to 1946, the immediate post World War Two period in Hong Kong. In that year Mr. Wing Yip Sang, father of current Chairman Mr. Robert Wing, began trading as Wing Finance Company, and eventually became a licensed commercial bank in 1984. In 1973, Mr. Robert Wing began a finance business on his own account, and established Money Exchange and Investment Limited (MEI). MEI developed rapidly. It pioneered the concept of merchant banking in Hong Kong and was a pace-setter in international bullion dealing in Hong Kong. The company also became one of the major gold dealers in Asia. In 1979, MEI moved into the share-broking business with the establishment of Omega Securities Company. In the same year, the company expanded into financial research services, secretarial services, and nominee services. Omega Group (Holdings) Limited was created to oversee the different lines of businesses. In 1988, Mr. Wing Yip Sang wished to step down from full-time management of Wing Finance Company and Mr. Robert Wing became chief executive. His first move was to merge Omega Group (Holdings) Limited with Wing Finance Company. As a result of this merger, the Group has built a significant presence in a variety of finance operations in Hong Kong. This helped synergise the financial and human resources of the companies, propelling the Group
Omega Asia Bank Limited is a full-fledged banking and financial services group, with a head office located in Hong Kong, and with operations in Macau and Manila. The bank is a “licensed bank” under the supervision of the Hong Kong Monetary Authority (HKMA). The bank offers a wide range of banking and finance services including: deposit taking, trade financing, treasury services, commercial loans, consumer loans, investment and merchant banking services, and insurance underwriting and agency services.
Group History The origins of Omega Asia Bank Limited may be traced to 1946, the immediate post World War Two period in Hong Kong. In that year Mr. Wing Yip Sang, father of current Chairman Mr. Robert Wing, began trading as Wing Finance Company, and eventually became a licensed commercial bank in 1984. In 1973, Mr. Robert Wing began a finance business on his own account, and established Money Exchange and Investment Limited (MEI). MEI developed rapidly. It pioneered the concept of merchant banking in Hong Kong and was a pace-setter in international bullion dealing in Hong Kong. The company also became one of the major gold dealers in Asia. In 1979, MEI moved into the share-broking business with the establishment of Omega Securities Company. In the same year, the company expanded into financial research services, secretarial services, and nominee services. Omega Group (Holdings) Limited was created to oversee the different lines of businesses. In 1988, Mr. Wing Yip Sang wished to step down from full-time management of Wing Finance Company and Mr. Robert Wing became chief executive. His first move was to merge Omega Group (Holdings) Limited with Wing Finance Company. As a result of this merger, the Group has built a significant presence in a variety of finance operations in Hong Kong. This helped synergise the financial and human resources of the companies, propelling the Group