An Interview with
Lawrence Kam Sun Tang
Founder, CEO & Managing Partner
LT Management Consulting Limited
LT Management Consulting Limited was established in 2021, is a next generation management consulting platform to help corporate to solve issues, create value, maximize growth and improve business performance. In LT Management Consulting Limited, we always know your needs and your business. We work in a unique collaborative model across the firm and throughout all levels of the client organization, fueled by the objective of helping our clients thrive and enabling them to strengthen their competitive edge. Our Mtto is “CUSTOMER’S SUCCESS IS OUR SUCCESS”
LT Management Consulting Limited is available to assist its clients in their strategy, operational, financial and project management needs. We offer a unique blend of consulting services in the following five areas that delivering superior value to our clients :
1. Strategy and Operational Planning Services ;
2. Human Resource Management Services ;
3. Financial Management Services ;
4. Sales and Marketing Services ;
5. IT project implementation Services.
12 March 2022
Tell us about your background, and what are you most passionate about?
Prior to establishment of LT Management Consulting Limited, Dr. Tang was a veteran banker, has more than 30 years of experience as top management of various listed companies in different industries such as Banking and Finance, Sichuan Leisure, PRC property development and Retail Businesses in Hong Kong, mainland China, Cambodia, Macau and Canada. Prestige posts in Listed companies including CFO of ICBC (Asia) and Hongkong Chinese Bank ; CFO and CTO of VC Group and its Real Estate PE Fund; CFO and Corporate Secretary of Alpha Peak Leisure Group in Canada; Managing Director & Executive Director of South China Financial Holdings and China Green ; Wealth Management Director of BOC Life. Dr. Tang also held the Programme Leader of BBA (Hons) in Accountancy at Caritas Institute of Higher Education. Dr. Tang is a fellow Certified Public Accountant with a Doctorate in Business Administration from the The University of Newcastle, Australia; also he holds two Master degrees in Quality Management and Applied Finance and one Bachelor of Law degree. In addition, Dr. Tang is a fellow of Chartered Governance Institute Hong Kong. He is also the Certified Banker in Hong Kong and member of Hong Kong Securities and Investment Institute.
Specialist in Corporate Governance, M&A, IPO and Fund Raising, Investment and Treasury, BPR, HR Management, Risk Management, Corporate Finance and Investor Relationships.
Being a fellow accountant, his passionate about training up those new accountants the best quality and knowledge. Dr. Tang deems it his duty to pass the torch of traditional culture.
Describe a time you had to make a tough decision (e.g. budget cuts, organizational restructuring, market withdrawal, etc.). What did you do and what was the result?
In 2005, a post-merger integration was attributable to ICBC (Asia) acquired the Belgian Bank. As the CFO of ICBC (Asia), my main role was to manage the following integration processes of Finance Division between two banks:
- Understand the divisional culture within the acquired company;
- Post - merger management plan ;
- Post - merger staff and teams ;
- Identification of cost synergy ;
- Talent transition and be objective regarding your own and the other company’s competence ;
- Organizational restructure and identify all finance staff members’ responsibilities ;
- Communication strategy ;
- Culture transition.
The new Finance Division was stable, more effective and efficient amid the chaotic started for only one month. The team members had come to me to understand what had happened and what was the divisional goal. 20% staff cost savings as a result.
How would others define your communication style? Do you prefer to be close to your employees or maintain a healthy distance, and why?
Dr. Tang pursues the democratic leadership style, means facilitating the conversation, encouraging a decentralized structure of communications where each team member communicates to everyone else frequently to share their ideas, and then synthesizing all the available information into the best possible decision. Dr. Tang must also be able to communicate that decision back to the group to bring unity the plan is chosen. Such leadership style promotes group discussions.
How has the industry been changing in recent years? What do you think are the biggest challenges your industry will face in the next 5 years?
Hong Kong’s management consulting industry continues to expand due to the city’s position as a major international financial centre. Hong Kong’s pool of experienced multi-lingual consultants, the majority of whom speak a mix of Cantonese, Mandarin and English, ensures effective communication in addition to their quality consulting services. After signing the Agreement on Trade in Services in December 2015, which liberalized measures for Hong Kong service suppliers and professionals on the mainland from June 2016. Mainland China is regarded as offering the highest growth potential for Hong Kong’s management consulting services. Significant demand is expected for consultancy in operations and process management, and corporate and business strategy.
As we have seen, management consulting firms in Hong Kong face an array of diverse challenges. Urgent need to develop new business, find and keep the best people will be the top agenda in the next 5 years.
What personality traits make a good leader?
The leader is often friendly, approachable and trustworthy. The aim of a democratic leader is to help others realize their own potential and use their skills effectively, and the democratic leader will also actively encourage others to become leaders.
What does the future hold for your company?
In order to contend with many different pressures, LT Management Consulting Limited will have to identify sophisticated and efficient strategic approaches. We will have to continue to find ways to use time and resources more effectively as we work to counter new competitors and find new clients. We will struggle to obtain the new businesses from Hong Kong and Great Bay Areas in China attributable to the strong network with the companies in Hong Kong and China.