An Interview with
Peter Lewis Consulting (China) Ltd.
Founder & CEO
Founded in 2011, Peter Lewis Consulting (China) provides customers with deep, intelligent and sophisticated analysis on economic and financial issues to assist them in understanding the challenges and opportunities that they face as they build and develop their business. We offer advice and consultancy to companies and organisations around the world on starting up, effecting change and expanding businesses and operations in the financial services sector in Hong Kong, mainland China and Taiwan and understanding these economies, markets and business environment. We advise on trading, operations, technology, risk management, compliance & regulatory matters as well as on business strategy, reorganisation, change management and expansion. As the founder of the company, I also offer media training based on my extensive TV and radio experience.
28 October 2019
Tell us about your background, and how you came to found your company?
I have 35 years’ experience of financial markets and business. I have held senior management positions in large global organisations, including the Hong Kong CEO of a leading global derivatives firm, chairman of a Taiwan asset management company and global head of equity and derivatives trading at 2 major global investment banks. I have managed teams and have experience of business and finance in Asia, Europe and the US. I am the presenter of RTHK Radio 3’s top rated business and finance programme “Money Talk” which broadcasts Monday to Fridays from 8am. My daily guests include leading business leaders, entrepreneurs, analysts & strategists, fund managers, economists, politicians, legislators, government ministers and finance officials.
After leaving investment banking in 2011, I wanted to use my experience to help business leaders and entrepreneurs build and develop their companies in the world’s most dynamic and exciting region and help them to achieve their full potential.
What is most important to you and your organization – mission, vision, or core values? Why?
I believe that the core values of any organisation most clearly define that company, who they are and what they stand for. Core values shape your culture and inspire your employees. Having core company values can help you ensure that everyone in the company is working towards the same common goal and share a bigger purpose. As well as being critical if you want to create a long-lasting, successful, and motivating place to work, research has shown that companies with clearly articulated core values achieve better bottom line growth compared to those without a shared purpose. Some key core values that I have emphasised in companies that I have led include;
· Upholding the highest standards of INTEGRITY in all our actions;
· Leveraging individual talent through TEAMWORK and working across boundaries;
· RESPECT our people and the communities we operate in and encourage their development;
· Be personally ACCOUNTABLE for delivering on our commitments;
· Provide products and service of outstanding QUALITY that deliver premium value to our customers.
Can you explain briefly how your service(s)/product(s) works?
I offer advisory and consultancy services and I have helped clients in the following matters: -
· Open new offices and develop business in the Greater China region;
· Advised on the development of new options products for an Asian stock exchange;
· Worked with the Bombay Stock Exchange to launch a new product;
· Assisted a client to deal with regulatory and compliance matters in Hong Kong’s financial sector;
· Advised on the development, political, economic and business trends seen in China;
· Provided a daily briefing to an overseas government agency on the political, business, social, economic and financial market trends, news and developments in Hong Kong & China;
· Offer financial markets advice and insights;
· Assisted with the insolvency and winding up across Asia of a large financial firm;
· Worked closely with Taiwanese financial regulators on the transfer of an investment fund to a new manager;
· Provide media training;
· Helped prepare the co-founder of a Hang Seng component company for a TV interview;
· Act as a non-executive director;
· Speaking and emcee engagements.
How has the industry been changing in recent years?
The financial services industry is being transformed by digital technology. Virtual banks are arriving in Hong Kong and other Asian locations and technology firms such as Amazon in the US and Ping An in China are capturing the customers of traditional financial services firms. FinTech companies are spending more than 70% of their budgets on information technology compared to 35% among banks. Asian lenders are ripe for consolidation with scale mattering even more as the global economic cycle reaches a late stage. A recent study suggested that half of the world’s banks are too weak to survive an economic downturn. The report says that in a majority of banks, returns on equity are not keeping pace with costs.
The same forces of technological change are also impacting the media industry. Radio and television are in decline as consumers choose how and when to listen to and view content. Streaming services and podcasts provide an alternative source of news, information and entertainment to traditional media. Companies are having to rethink their media strategies and how they reach their customers, engage with the media and develop crisis management outreach.
What makes you different from what’s currently available in the market?
Compared to large consultancy firms, which have to handle projects in many sectors and locations, the specialist nature of our company means that we have intimate knowledge of local regulations, rules and unwritten procedures, vital to a successful outcome to any project. We are an independent company and tell the truth rather than saying what people want to hear and what is popular. Finding solutions, unconventional ones if necessary, is the cornerstone of our philosophy to help our customers succeed. Our customers know that when they call us with a problem or challenge, we will listen carefully and understand the issue and work on an outcome that it is best suited to our client’s needs rather than an “off-the-shelf” solution which was used for another client.
What does the future hold for your company?
Spurred on by demographic, social, economic and regulatory changes and enabled by new technologies, the world’s financial system and as a result the financial services sector are undergoing transformative changes the likes of which are seen only once in several generations. With half of the world’s population living within 6 hours flying time of Hong Kong, the Asia Pacific region is where the growing ambitions and economic & financial circumstances of the region’s peoples are demanding financial institutions, products and services that meet their modern day needs and where financial markets serve them, rather than the other way round. Asia Pacific and Greater China will increasingly be the laboratory and testing ground for a new way of doing business and innovative products and solutions. It is an exciting time to be based in this part of the world and I feel that my company has an opportunity to help businesses and organisations navigate a path forward.