HKUST Receives Generous Donation from Roger King Family in Support of Research on Asian Family Business and Family Office

18 Oct 2022

Prof. Roger King (third left), Mr. Stephen King (second left) and Mr. Geoffrey King (first left) of the King family officiate at the unveiling ceremony of the Roger King Center for Asian Family Business and Family Office together with HKUST President Prof. Wei Shyy (fourth right), HKUST President-designate and The Morningside Professor of Life Science Prof. Nancy Ip (third right), Dean of HKUST Business School Prof. Tam Kar Yan (second right), and Director of the Center Prof. Winnie Peng (first right).

Dean of HKUST Business School Prof. Tam Kar Yan (right) presents a token of appreciation to Mr. Patrick Ng, Hong Kong representative of the Tanoto Foundation, to thank the foundation for its support of the Center over the years.

A panel discussion moderated by Prof. Winnie Peng (first right) features leaders from four prominent enterprising families – Dr. Vincent Lo Hong Sui, Chairman of Shui On Holdings Limited (first left); Dr. Hans Michael Jebsen, Chairman of Jebsen Group (second left); Mr. David Lee Wai Hung, Director of Lee Kum Kee Company Limited (third left), and Ms. Ronna W T Chao, CEO of Novel Investment Partners Limited (second right) – sharing their insights on the theme "Three Preservations of the Family.”

The Hong Kong University of Science and Technology (HKUST) received a generous donation from Mr. Stephen KING, Ms. Daphne KING and Mr. Geoffrey KING of the King family in support of research, especially on Asian family business and family office. The University named the Roger King Center for Asian Family Business and Family Office (Center) in honor of the King family. A naming ceremony was held today (Oct 18), followed by a panel discussion featuring leaders from prominent enterprising families.

A key research arm of the HKUST Business School, the Center was established over a decade ago with the vision to become the world’s premier research and teaching center in Asian family business. In recent years, the Center has expanded its focus to include family office, a fast-growing sector in Asia where Hong Kong, with its strengths in financial, professional services and advantageous location, is well placed to unlock new opportunities. The Financial Secretary of the Hong Kong Special Administrative Region also proposed in the Budget in February to enhance the city’s global attractiveness as a family office hub through providing tax concessions for eligible family investment management entities managed by single family offices. The naming of the Center reflects its twin foci in Asian family business and family office, and its mission to bring together academics, practitioners, and policymakers in promoting quality development in both areas in Hong Kong and beyond.

Officiating at the naming ceremony were Mr. Stephen King, Mr. Geoffrey King, HKUST President Prof. Wei SHYY, HKUST President-designate and The Morningside Professor of Life Science Prof. Nancy IP, Dean of HKUST Business School Prof. TAM Kar Yan, Director of the Center Prof. Winnie PENG, and Senior Advisor of the Center Prof. Roger KING.

Mr Stephen King said, "Preserving family values and fulfilling social responsibilities across generations is very close to our family’s hearts. We are therefore very delighted to see the Center named after our father Prof. Roger King, who has devoted so much effort and passion to the Center’s work over the years as its Senior Advisor and Founding Director. We look forward to continuing to support the Center’s work in deepening the understanding of family business and family office in Asia."

Conveying his heartfelt gratitude to the King family for their thoughtful donation, HKUST President Prof. Wei Shyy, said, "For years, the Center has been illuminating the development pathways of Asian enterprising families, particularly those in Greater China. This act of generosity on the part of the King family will not only build on the University's teaching and research excellence, but also enable Hong Kong to better capture the rising opportunities in the region’s family business and family office sector by way of scholarly studies and talent development."

HKUST President-designate Prof. Nancy Ip said, “At HKUST, we encourage our researchers to take a multidisciplinary approach, making us well placed to contribute to a better understanding of Asian family business and family office sector. We are very grateful to the King family for supporting the Center to advance research in this key business area in the region.”

HKUST Business School Dean Prof. Tam Kar Yan said, "Through its engagement with leading families, practitioners, various units at HKUST and institutions around the world in the past decade, the Center has become one of the most active research institutes in the study of family business and family office. This donation from the King family will provide further impetus to its research, education and outreach initiatives."

Center Director Prof. Winnie Peng said, "Our Center strives to take advantage of the HKUST Business School’s strengths and connections to address the surging demand from the Asian family business and family office sector. By conducting high-quality academic and practical research, and offering signature training programmes, we are bringing frontier research and nurturing best talents for this booming sector."

Marking this momentous development of the Center, a panel discussion moderated by Prof. Winnie Peng brought together leaders from four prominent enterprising families – Dr. Vincent LO Hong Sui, Chairman of Shui On Holdings Limited; Dr. Hans Michael JEBSEN, Chairman of Jebsen Group; Mr. David LEE Wai Hung, Director of Lee Kum Kee Company Limited, and Ms. Ronna W T CHAO, CEO of Novel Investment Partners Limited – to share their insights on the theme "Three Preservations of the Family."