当CEO Sandy Weill期待将花旗集团的金融超市型号出口到十年前，他在丹尼尔·蔡发现了一种善良的精神。那么台湾富邦集团的副主席执行官，渴望将家庭经营的金融企业转变为台湾迷你花旗，提供从银行到保险到一个屋檐下的保险。威尔喜欢这个想法，在2000年，花旗在富邦的15％股份支付了8.5亿美元。
Much has changed in the ensuing years. Citigroup never managed to get its supermarket model working properly before Weill retired in 2006, and later it ran up such staggering losses on subprime mortgages and other toxic assets that it has needed three public bailouts in the past six months just to stay afloat. Weill’s successor Charles Prince sold the Fubon stake in 2007 in one of Citi’s early retrenchment moves. In Taipei, however, the Tsais have not only stayed true to the supermarket vision, but they are also taking advantage of the global financial crisis to expand their franchise at home and abroad. In December, Fubon Financial Holding Co., as the group is now known, became the first Taiwanese financial institution to take a stake in, and assume management control of, a mainland Chinese bank when it completed the 230 million yuan ($34 million) purchase of a 20 percent stake in Xiamen City Commercial Bank Co., a small retail lender in the port city of Xiamen, directly across the Taiwan Strait. Fubon aims to focus initially on serving the 2,450 Taiwanese companies and their employees in the Xiamen area, but it eventually wants to raise its stake there and expand regionally. In February, Fubon paid $600 million to acquire ING Group’s Taiwanese life insurance subsidiary. The deal strengthens Fubon’s position as the country’s second-largest life insurer, with 121 billion Taiwan dollars ($3.6 billion) in annual premiums.
丹尼尔·蔡某，目前本集团的执行董事长，有令人兴趣的是，他的开车仍然有更多优惠，使福博在台湾，香港和中国的领先金融集团。“如果我们找到合适的目标，”蔡先生“，我们将拥有至少10亿美元的准备就绪，为更多的收购亚博赞助欧冠in a recent interview at the headquarters of the group’s banking arm, Taipei Fubon Bank. "We haven’t thought of abandoning the financial supermarket model yet. Maybe it’s because we still are buying things that are manageable."
Tsai的大胆和野心使台湾第二大公开上市的金融服务公司拥有富邦，拥有2万亿美元，在该国拥有过度拥挤的金融部门。台湾有15家金融控股公司和40家银行，其中一半的政府拥有。分析师表示，这远远超过这个国家需要2300万人需求。但是，厦门和收购等交易使富邦的强大范围和规模，以及在快速增长的大陆市场中有一个有前进的先进优势。
台北富邦银行是该国的第十大，资产为1.2万亿美元。Fubon Insurance Co.在国泰寿命保险公司后面的保费和政策中排名第二，是第四大保险公司，资产为1万亿美元。银行业务产生了54％的富邦集团2008年的收入为2135亿元;物业和伤亡保险贡献了20％;人寿保险，15％;和证券经纪厂筹码了11％。
现在，该集团的广度和实力尤为重要，因为主要发达国家的经济衰退正在振兴台湾的出口依赖经济。"Fubon likely will be the least affected by this economic crisis among Taiwanese financials because it is so diversified," says credit analyst Susan Chu of Taiwan Ratings Corp., a Standard & Poor’s subsidiary in Taiwan, which gives Fubon its third-highest credit rating, twAA.
然而，本集团面临着坚定的挑战。富邦的净收入在2008年下降了25％，达到108亿美元，部分是因为美国抵押贷款支持证券和抵押债务的投资损失为20亿美元。随着台湾经济潜水，利润前景可能会恶化。
2008年第四季度，该国经济产量萎缩为8.2％，因为出口市场坦克，到目前为止，任何高兴的迹象都很少。出口商收到的订单于1月份的2月下降了44％。根据监管机构的说法，仅1.6％的银行系统贷款的贷款仍然是不正当的，但是，冯国·昌（亚洲）的分析师在台北的分析师，注意事项，“随着这一全球危机加深，不良渠道，NPLS将会崛起。”
Fears about the health of the system sparked runs on a couple of small private banks in October, prompting the government of President Ma Ying-jeou to initially double deposit guarantees to T$3 million before extending guarantees to all deposits and corporate loans in November. No banks have failed, and Sean Chen, chairman of Taiwan’s Financial Supervisory Commission, points out that the central bank holds T$4 trillion in excess reserves that could be tapped if needed. "We don’t have a liquidity problem," he tellsII. "The challenge is coming from the external environment."
政府采取了戏剧性的措施来抵御经济，世界第26大，产量为3.93亿美元和3000亿美元的外汇储备。1月份，政府宣布了2009年至2012年的2009年基础设施支出的5000亿财政刺激计划。它还使每次消费优惠券中的预算加剧了每台消费优惠券 - 或者每台台湾人的3,600美元（约106美元） - 这可以花在任何地方物品，但必须在9月份使用。
“危机对台湾产生了巨大影响，”金融部长李·斯沙尔·德尔·德尔德II在面试中。“我们采取了应急措施，并提出了未来的发展战略。”该策略包括释放政府拥有的土地，为开发商提供补贴贷款。
除了处理陷入困境的经济环境之外，富邦需要证明其超市模型可以产生强大的盈利能力。该公司平均销售1.4至1.5产品，比同行更多，但远低于一些欧洲银行的五个产品的交叉销售率或更多。该集团去年的股权回报率为6.7％，据说是台北麦格理证券的分析师Matthew Smith。这落后于国泰金融控股有限公司（10.8％），巨型金融控股有限公司（10.0％）和中国金融控股公司（8.5％）等竞争对手。Fubon的股价从上个月晚些时候到21.40点到21.40点，从36.79点倒下了。在同一时期，中国人脱落59％，总管64％。
“富邦是台湾最完整的金融集团”，“史密斯笔记。“但它会为股东创造价值吗？我不太确定。”
成功整合近厦门和收购对于展示富邦超市模型的价值至关重要。Tsai在2004年3月举行了中国代购的基础，在2004年3月，富丰为75％的亚洲国际银行支付了139亿美元，这是被阿拉伯银行控制的太阳鸿凯银行的小贷方。公司和中国光大银行。Tsai将该名称更名为香港福博银行，将其分支网络推向24个网点，并开发了一系列服务 - 包括财富管理和证券经纪 - 迎合富裕的台湾工业家居居住在中国的户外工厂。在富邦的控制下，银行的资产扩大了43％，达到656亿港元（85亿美元）;2004年净收入从2004年的3亿港元上升至2007年的4.61亿港元，而是由于糟糕的企业贷款的休息，去年跌至1亿港元。
香港银行去年产生了3.2％的富邦的利润，但它证明对蔡铁赛的车辆来说，这是一个在中国投资的台湾银行的裙子监管禁令。
在马萨诸如主席的两岸联系在马萨诸塞州的总统，他在上市5月份，而台北和北京的谈判者预计将于今年晚些时候达成协议，以允许台湾和中国银行渗透彼此的市场。但直到那时，富邦在维修超过150亿美元的台湾企业家提供了一系列前赛的优势。“虽然这一中国银行的股份是利润方面的贡献者是一个低贡献者，但市场将为富邦信贷提供，”Goldman Sachs'张说。
厦门市商业银行是福建省南部主要城市的厦门政府大部分资产。该银行是一个小型零售专家，资产和32个分支机构拥有177亿元，使其成为该市第五大贷方。
蔡计划在未来几个月内指定新的CEO，CFO和首席风险官员厦门。他还希望积极扩大批发银行，为该地区运营的众多台湾制造商提供服务。Tsai表示，蔡先生表示，他有兴趣在厦门银行采取更大的股份并在地区扩展它，可能进入上海。他也渴望在中国确保人寿保险许可证，并通过银行跨销售产品。自2004年以来，国泰财务一直在上海销售人寿保险，通过与中国东方航空公司有限公司合资
In contrast with his patient move into China, Tsai pounced quickly to acquire ING Antai Life Insurance Co. when the outfit’s Dutch parent company ran into trouble at the height of the credit crisis last autumn.
"This acquisition is opportunistic," notes Victor Kung, Fubon’s president. ING executives first approached Tsai about a possible deal in 2006, but they wanted a big equity stake in Fubon as part of the deal. In October, however, ING was obliged to take a €10 billion ($13.6 billion) capital injection from the Dutch government to ensure its solvency. Eager to free up the €450 million in capital it had tied up in Taiwan, the Dutch group agreed to sell its life business for T$19.5 billion in shares and subordinated securities that give it a 5 percent stake in Fubon. "We would not have taken it up if the price wasn’t right," Kung says. "The price came down because of the crisis."
安泰生活是该国第五大的生活保险公司，拥有220万客户和7％的市场份额。它为Fubon现有的2,000人寿代理增加了8,000代理商（本集团有一个额外的1,000代理处理P＆C业务）。
这项交易有助于富博在蔡氏家庭内部的第1名人寿保险公司，国泰生活中的差距关闭。国泰是国泰金融控股的子公司，由丹尼尔堂兄，蔡红屯统计，据估计Forbesto be Taiwan’s richest man, with a worth of $8.5 billion. Cathay and Fubon were each split off in 1989 to protect the Tsai family’s insurance interests from their bank at the time, Cathay Trust, which collapsed because of bad loans to a family manufacturing company. Both Cathay and Fubon have rebuilt financial services conglomerates; they are each other’s fiercest rivals in Taiwan. Cathay’s market cap of $7.2 billion is nearly twice Fubon’s $3.9 billion.
一些分析师质疑由于本公司的未偿还负债。富邦的Tsai乞求不同。他认为，富邦有足够超过足够的资产来吸收任何损失。他还认为利率将击中底部并最终上升，因此政策的最终支出将低于今天支付的。高管在拒绝评论这笔交易。
荷兰国际集团(ING)收购有助于平衡富邦的生活customer base, asserts Kung. The minimal overlap offers Fubon an expanded customer database for selling additional financial services. Fubon will train its 8,000 new insurance agents to persuade customers to apply for Taipei Fubon Bank credit cards and open Fubon Securities trading accounts, he says. "We will continue to use our distribution channel as one single platform to sell all products," Kung explains. "We continue to believe in the financial supermarket concept." Tsai echoes the point and offers a poignant contrast between Fubon and Citi, post-Weill. "After Sandy left, everyone we met at Citi — they cared more about their careers than [about] Citi," he says. "That is the big lesson we learned working with global giants like Citi. The culture is so different. In Oriental companies people like me stay around for a decade or two. In Anglo-Saxon companies chairmen and chief executives change all the time."