Francis A. Rozario, Chairman & Chief Executive Officer
Francis Rozario is an accomplished banker with a specialized and diverse forty year career in Banking and Finance across the world. He is the Founding Chairman and CEO of Asia Capital and Advisors Pte Ltd.
Throughout a 28 year career at Citibank, Mr. Rozario ran businesses in the Middle East, Africa, Latin America, USA, Europe and Asia. At the early age of 28, he was appointed CEO for Citibank Liberia. Two years later, Mr. Rozario was asked to launch a de-novo Joint Venture Commercial Bank in Nigeria, which gained a reputation as the best bank in Nigeria by 1988. Mr. Rozario was next appointed as CEO for Citibank Colombia and Ecuador, followed by the Division Head for the Global Relationship Bank for Latin America. He next moved to Taiwan as the CEO for the Corporate and Investment Bank, where he transformed the business for rapid growth and profitability. In his last assignment with Citibank, Mr. Rozario was asked to develop a new model for SME/Commercial Banking across Emerging Markets and to obtain Credit Policy approval for a new Risk model. After obtaining internal approvals, Mr. Rozario successfully rolled out the new model across 15 countries from Latin America to Asia in 3 years and in year 5, delivered a 20% return on equity. Mr. Rozario was a Senior Credit Officer and a Member of the Citigroup International Planning Group.
In 2003, Mr. Rozario was appointed by Temasek Holdings, the Singapore government’s sovereign wealth fund, to head its newly formed financial services subsidiary, Fullerton Financial Holdings (FFH). In addition to very profitable minority investments in China Construction Bank, Bank of China and ICICI, he acquired major stakes in Bank Danamon (Indonesia), Alliance Bank (Malaysia), Mekong Development Bank (Vietnam) and NIB Bank(Pakistan), where he held an active role in management oversight. Moreover, he introduced de-novo fully owned NBFC subsidiaries in India, UAE and China. His proprietary SME and Self Employed business models led to leadership positions in Indonesia, India, China and UAE. As President Director (CEO) of Bank Danamon Indonesia from 2003-2005, Mr. Rozario transformed the bank into a SME and Mass Market leader, creating substantial shareholder value. Due to FFH’s superior Mass Market models, Bank of China chose to partner with Fullerton to roll out Community Banks in Rural and Semi-Urban locations in China. This JV, known as BOC Fullerton Community Bank, is expanding rapidly across China.
During his 8 years with FFH, Mr. Rozario created superior returns for shareholders and value to local communities. In all of Fullerton’s business ventures, Mr. Rozario incorporated an active Corporate Social Responsibility framework which was embedded in the business and which had a meaningful impact in the communities in which they operated. These initiatives won recognition for leadership and service to the community from local Governments and the Public at large.
Mr. Rozario founded Asia Capital and Advisors in 2011, to provide Financial Institutions with People, Knowledge and Capital; to serve Customer segments with creative and sustainable business models to achieve unique value for all stakeholders: Customers, Employees, Shareholders and local Communities.
Mr. Rozario was born in Mumbai, is a U.K. citizen and lives in Singapore with his wife and son. His married daughter lives in the United States.
Mathew Welch, Non-Executive Director
Mathew Welch has over 25 years of financial services experience in Asia. He has a strong track record of building and leading various financial services businesses throughout the region. His experience covers a diverse range of FI businesses, including Investment & Wholesale banking as well as Asset Management/PE Investment.
Prior to ACA, Mr Welch worked in a variety of roles at companies such as Daiwa Investment Bank and ING Bank. Before that he was Managing Director in the Financial Institutions industry group at Temasek Holdings, where he also served on the Boards of various investee companies. Prior to Temasek Holdings, Mr Welch was Global Head of Banks for Standard Chartered. He joined Standard Chartered as FI Head of Asia, and in that capacity from 2003, grew the FI revenues more than fivefold in a four year period, adding more than US$1bln in sales and creating one of Asia’s largest FI businesses.
Mr Welch worked at Merrill Lynch FIG Investment Banking in the early 2000’s and in that capacity was involved in various significant Equity and M&A transactions (eg listing of India's HDFC Bank, privatization of BCA in Indonesia). In the mid to late 1990’s, he was also one of the founder members of McKinsey & Co’s Financial Institutions Practice in HK and Singapore. Mr Mathew Welch has successfully concluded transactions in Singapore, Indonesia, Malaysia, Mongolia, Taiwan, Philippines, India, Thailand and Korea, and has lived in Hong Kong, Singapore, Taiwan and Thailand. He began his career with HSBC in Hong Kong in the 1980s.
Mr Welch is currently based in Singapore, where he is an advisory board member at the Singapore Management University School of Economics and an active member of the Harvard Club. He earned his MBA from the Harvard Business School, and has an MA in Chinese from Oxford University.
Shao Ming Tan, Non-Executive Director
Shao Ming is a seasoned investment professional with extensive experience on the buyside straddling across multiple asset classes and across different countries in Asia.
Shao Ming started his career with Temasek Holdings, where he specialised in investments in Financial Institutions. Some of the representative transactions that he worked on included controlling / influential stakes in Bank Danamon (Indonesia), Bank Internasional Indonesia (Indonesia) and Alliance Bank (Malaysia), as well as minority positions in China Construction Bank, Bank of China and E-Sun Financial Holdings (Taiwan). After 7 years at Temasek, Shao Ming joined a global multi-strategy hedge fund, Citadel Investment Group in Hong Kong as Director of the Asian Merchant Banking Group. At Citadel, he made several investments in listed companies, physical real estate and structured credit. He had P&L responsibilities over a portfolio with value in excess of US$500MM.
Following Citadel, Shao Ming joined Citi Private Equity in 2010 to lead the South-East Asia investment team and based out of Singapore. He led the successful buyout and delisting of JK Yaming Limited from the SGX, and the subsequent bolt-on acquisition of LUXIM Corporation, a leading light-emitting plasma company based out of Sunnyvale, California. Citi Private Equity was acquired by The Rohatyn Group in late 2013. Shao Ming left TRG in 2015 and he joined ACA as non-executive Director in November 2015.
Shao Ming graduated from the National University of Singapore with a B.Eng (Chemical Engineering) 1st Class Honors and M.Eng (Chemical Engineering).