Winning the new financial era

Chapter 330 Pride and Prejudice

Three days later.

Ding Siyao came to Barclays Singapore Wealth Management Company with a group of Yimin Wealth middle and high-level executives who had just flown to Singapore from the mainland, preparing to complete the final acquisition and settlement process with the other party.

In addition to her own company staff, she was also accompanied by a team of auditors sent by the Singapore branch of KPMG accounting firm, and a team of commercial lawyers sent by Singapore Xie Kaiwen Law Firm.

Since the beginning of the new century, Chinese enterprises have gradually gone abroad and started the pace of mergers and acquisitions overseas.

During this period, I suffered a lot of losses, paid a lot of tuition fees, and provided valuable experience for latecomers.

In overseas mergers and acquisitions, in addition to due diligence on the company's own assets such as talents, equipment, technology, and markets, local laws and even the country's diplomatic relations with China must also be considered.

Sun Yanjia and Barclays staff greeted Ding Siyao and his party at the company gate.

Seeing Ding Siyao arrive, Sun Yanjia made an invitation with a smile on her face, "President Ding, please come inside!"

Ding Siyao said thank you for your hard work, and a group of people followed Sun Yanjia to the conference room.

Sun Yanjia ordered his subordinates to bring a lot of things, including the company's official seal, main contracts, labor contracts, and corporate private seals related to bank accounts, account books, statements, electronic bank user names, keys, check books, etc. objects and documents.

The audit team and law firm team hired by Yimin Wealth started to work, reviewing every contract and bill.

The work process was quite long, so Sun Yanjia invited Ding Siyao to sit in the president's office together for a while.

The two came to the spacious and bright CEO's office and sat on the sofa. Sun Yanjia spoke first, "Boss Ding is really amazing! When I was your age, I was still a customer service manager at Barclays Bank."

Ding Siyao smiled, "Singapore is more economically developed than the mainland, but because of this, there are also fewer opportunities for entrepreneurship."

Sun Yanjia nodded. She came to work at Barclays long after she graduated from university, and it took nearly 20 years to get promoted to her current position.

She knew Ding Siyao that she started to start a business with Zhang Yida in the second half of 13, and became the CEO of a listed company in less than three years.

This made her very envious!Although he is the vice president of Singapore's second largest bank in the United Kingdom and a gold-collar family with an annual salary of several million, he is still a wage earner after all.

But the 25-year-old girl in front of her is the CEO of a listed company with great power. After the acquisition is completed, the word "multinational group" may be added to her name.

Not only that, but she also owns a little over [-]% of Yimin Wealth's shares, and is worth nearly [-] million U.S. dollars based on market value.

"Mr. Ding, I heard that you started a business with Mr. Zhang right after you graduated from university?"

Ding Siyao shook his head, "It doesn't count! Before that, I had been an intern in a small loan company for several months."

Sun Yanjia didn't know how to evaluate it, she was so lucky!

An ordinary college graduate in mainland China has become the CEO of a listed company in three years and is worth hundreds of millions.

Sometimes it is so cruel now, choice is greater than hard work!

Sun Yanjia is also thinking, if she chooses to enter the mainland to develop after graduating from university, will it be better than now?
Whether it is the Internet or the financial industry in mainland China, they have developed rapidly in the past 20 years.

Didn't my younger sister only hang out in the Hong Kong and Taiwan circles in the early years?In the end, it’s not about going to the mainland to make money.

what a pity!I didn't seize this wave of opportunities!
"Mr. Ding, after the completion of the delivery, shouldn't it be time to send the remaining balance of 2.56 million US dollars to our company?"

"Of course," Ding Siyao said with a smile, "Everything will be done according to the procedures. Don't worry, Mr. Sun. Yimin Wealth is very particular about reputation, and we will never default on your company's purchase price."

"Haha, of course I believe in your company." Sun Yanjia said with a smile, "I see on the Bloomberg terminal that Yimin Wealth's cash and short-term investments are more than 6 million to nearly 7 million U.S. dollars. Your company has strong financial resources! "

"We are a small company, so we can't compete with Barclays." Ding Siyao was modest. Yimin Wealth is definitely a leader in the third-party wealth management industry in China, and it is not ranked in the international market. .

"Okay, let's not talk about this. In the next period of time, we at Barclays will definitely cooperate with Yimin Wealth to complete the delivery work.

In fact, I also want to end this matter sooner. "

Sun Yanjia seemed to have thought of something, and said again: "Mr. Ding, if there is any loss of customers and staff during the delivery process, please forgive me!
After all, Barclays Singapore has undergone such a big change, and some fluctuations are normal. "

Ding Siyao frowned and said, "President Sun, we both signed a supplementary agreement.

If there is a loss of customers and employees during the delivery process, we have the right to re-evaluate the purchase price. "

"Of course," Sun Yanjia nodded, "On this point, we both have common interests.

You want to take on more client assets, and we at Barclays want to sell them at a better price. "

Sun Yanjia added: "Because it involves company changes, all client asset management contracts need to be re-signed.

Therefore, in the future, Barclays will cooperate with Yimin Wealth to invite customers to come to the meeting and re-sign new contracts to ensure a smooth business transition. "

"That's no problem. Yimin Wealth would rather pay more for the acquisition, but also ensure that customers are not lost as much as possible."

……

"Mr. Sun, we invited clients to come to Singapore to re-sign the asset management contract with Yimin Wealth, but many clients refused..."

The subordinate reported to Sun Yanjia something that made her very upset, and she asked, "What is the specific reason?"

His subordinate is also a Singaporean Chinese, and he said with a pouted mouth: "The client said that he valued us as the second largest bank in the British Empire, so he entrusted us to manage the assets.

But now that it is managed by mainlanders, they are not at ease, thinking that mainlanders can't handle finance well. "

"What kind of bad excuse is this? If you can't handle finance, can someone become a NYSE-listed company with a market value of more than 20 billion US dollars?"

Sun Yanjia was very angry. Every time a customer is lost, it means that the price of Barclays' business is reduced by one point.

If things get serious and the purchase price is seriously affected, the group may push someone to take the blame.

Anyway, the person who is responsible cannot be the president Cliff, because he is British.

On the contrary, it is very likely that I am a Singaporean!Moreover, Cliff has been hiding behind and not showing up. It is estimated that he had expected today, just to avoid responsibility.

"How many customers are willing to come to the conference?" Sun Yanjia asked.

"Less than 70% of people."

Hearing this number, Sun Yanjia, who has a good temperament and rest, couldn't help but curse.

Although she also considered the loss of customers, she thought that at most one or two achievements would be great.

However, reality gave her a heavy blow!
"How does their financial planner team promote to clients? Even if they change their employer now, their financial planners still have to rely on those clients in their hands to eat.

Now that customers are lost, will they go to Northwest Wind in the future? "

Facing the furious boss, the subordinate gave a wry smile and replied: "The financial planner team has also tried their best! Many people personally flew to Hong Kong and other parts of Southeast Asia to try to persuade customers.

Then all efforts fail!Many people do not believe that mainlanders can manage their assets well.

In their view, Yimin Wealth was just lucky, and it was listed on the New York Stock Exchange only after being exposed to the light of the system and some insider transactions.

From the perspective of background, it is difficult for a company that has been established for less than three years to convince customers. "

Sun Yanjia is also a Singaporean herself, so she naturally understands that some people in the Chinese community look down on the mainland, and even look down on mainland companies.

From a logical explanation, it is probably not difficult to understand why so many customers want to quit.

Sun Yanjia also said: "Is the introduction of Yimin Wealth done to customers properly?"

The subordinate shook his head and smiled wryly, "I said it! Including the cooperation between Yimin Wealth and Ruixiang Industrial Fund, the relationship between Ruixiang Industrial Fund and Hong Leong Group, Jinguang Group and other top Southeast Asian chaebols, and even Zhang Yida, Ruixiang and Yimin Wealth Relationship.

But this is useless!Attractiveness is not enough!Zhang Yida is indeed a very powerful young man who has made many well-known Internet companies.

But what's the matter?He is not Buffett, he has the reputation of a world-renowned investment master. "

Sun Yanjia frowned tightly, not knowing what she was thinking, and sighed after a long while:
"Yimin Wealth is the LP of Ruixiang Industrial Fund, which has invested in dozens of unicorn companies in mainland China, Southeast Asia, and even South Korea, India and other countries. It has made great achievements in the primary market!

That's all, isn't it attractive enough? "

"These companies are not listed yet, and although they are called unicorns, it is hard to say what will happen in the future.

What if there is an Internet bubble?
The book return of Yimin Wealth looks really good, but because you have been established for too short a time, there are very few projects that pay dividends at present.

Moreover, no matter how powerful a wealth management company is in the field of equity investment, it can only walk on one leg.

If Yimin Wealth can once again prove its vision in foreign exchange, futures, securities investment and other fields, I believe the situation will be much better. "

The subordinate's analysis is still very objective, and Sun Yanjia also thinks there is some truth, she said: "If Yimin Wealth can make some achievements in every field, it will not be the current size.

It's not their turn for these "pseudo-rich people" to pick and choose here. "

No matter how fake rich people are, their per capita assets are tens of millions of dollars!

The subordinates were so slanderous that they had no choice but to follow Sun Yanjia's words and said: "It is indeed the case. The top Chinese chaebols are all investing in Ruixiang Industrial Fund. I don't understand what these people are thinking?"

"I think they are still too arrogant, and they are very prejudiced against everything in the mainland!"

The subordinate nodded and said yes, and then asked: "Then what should we do now?"

"Let's do it for now! Invite as many clients as possible, and I'll discuss it with President Cliff."

(End of this chapter)