| February 27, 2008 Hong Kong Economic Journal. | | | | time often accomplish less; those who have more |
| At the inauguration ceremony held recently, Mr. | | | | responsibilities end up accomplishing more. You |
| Sim Lim, Citi Country Officer for Hong Kong, | | | | may find this observation surprising, but the fact |
| shared his personal experiences with the students | | | | is that outstanding individuals have learned to use |
| in attendance. He advised the students to remain | | | | and schedule their time well. They become more |
| positive at all times and give their full commitment | | | | efficient over time. |
| to their endeavors. Lim gave the following speech | | | | As I’ve said before, all of you have already |
| at the ceremony. | | | | embarked on the journey to create Hong |
| Prof. Liu Pak Wai, faculty members of the Faculty | | | | Kong’s future. You’ve chosen the field of |
| of Business Administration of the Chinese | | | | commerce for your future career. Citibank is |
| University of Hong Kong, my Citibank colleagues, | | | | proud to be able to participate in this process and |
| ladies and gentlemen and students, good | | | | to help you reach your career goal. Through this |
| afternoon. | | | | course, I hope to share our experience as well as |
| First of all, I believe that each young student | | | | essential knowledge from the banking industry. I |
| assembled here today has been entrusted with an | | | | have gone over the course modules. The topics |
| important task; each of you represents the | | | | covered are incredibly comprehensive. |
| future of Hong Kong. You may think it’s a | | | | The Multitude of Banking Services |
| grand statement, but the truth of the matter is | | | | When I married, my wife and her friends thought |
| that 'university students are the future pillars of | | | | that my job at the bank only involved |
| Hong Kong.' | | | | ‘counting money.’ In fact, the banking |
| If we look back, Hong Kong has been reunified | | | | business hosts a multitude of practices and |
| with China for ten years now. The local | | | | services. There is consumer banking, investment |
| administration during this period, together with the | | | | banking, corporate banking, trading, sales and etc. |
| British administration from the previous 99 years, | | | | I’m hoping that in three months’ time, |
| established a strong foundation for Hong Kong. | | | | you will have a deeper understanding of the |
| This small territory of islands may lack natural | | | | banking industry and get a taste of the financial |
| resources; but Hong Kong possesses an | | | | sector. I assume that you’ve made finance |
| abundance of human resources. | | | | your career choice because it’s your ‘cup |
| There’s a saying, ‘water can make a | | | | of tea’ –something that you can take |
| boat float or sink’; a population may be an | | | | pleasure in as you strive for success in the future. |
| asset or a burden. In Hong Kong, human | | | | In the course of the next few months, you will |
| resources are invaluable assets. On the other | | | | get to know the range of career options and |
| hand, many countries rich in natural resources | | | | decide what area you wish to pursue. I will just |
| such as oil, suffer tremendously from political | | | | say: consumer banking is quite dynamic. The |
| turmoil and corruption. Whether oil is a resource | | | | credit card business is not as boring as it seems |
| or a burden, it’s a question worth reflecting | | | | because it involves the application of statistics. |
| upon. | | | | Trading can be very interesting too; you see |
| Students Make the University | | | | changes in exchange rates and interest rates as |
| I want the students here to appreciate that you | | | | they happen across countless computer screens. |
| make the university; the university doesn’t | | | | In investment banking, you have mergers and |
| make you. Your conduct, the quality of your | | | | acquisitions. If you’re in corporate banking, |
| work and your future success give the university | | | | you’ll be involved with loan negotiations. |
| value and builds its reputation. | | | | Banking is an exciting world, some people thrive |
| Many employers will hope to hire graduates from | | | | on the frontlines while others provide support in |
| CUHK. That’s why you all play an important | | | | the back office. I suppose in the next three |
| role here; your conduct and performance affect | | | | months, you’ll get a taste of what banking is |
| the reputation of the university. That’s why | | | | all about and find the area that suits you. |
| you must strive to acquire knowledge from your | | | | Commitment in Corporate Social Responsibility |
| professors, bring your skills and talents to fruition, | | | | As Professor Liu mentioned, for Citibankers, |
| thereby bringing glory to your university. You | | | | teaching requires a lot of time and effort; it is a |
| should believe that this is not an unattainable goal. | | | | great responsibility. I expect all senior members of |
| I have faith in your ability to succeed, just as I | | | | our management team to give their best in this |
| have faith that Professor Liu’s achievements | | | | important role, thereby continuing Citi’s |
| will add to the reputation of his alma mater, | | | | tradition of responsible corporate culture. |
| Standford University. | | | | Among the staff recruited for Citi, there were |
| When I was in the United States, I sent my | | | | graduates from the local universities as well as |
| children to private schools. The private schools | | | | high caliber candidates from the overseas. I |
| were elite institutions; apart from interviewing the | | | | believe that the local talent level matches that of |
| students, they also interviewed the parents. I | | | | foreign talents. |
| remember I was asked what I expected from | | | | Acceptance into this banking course involved a |
| the school. I said I expected the school to teach | | | | rigorous selection process. The competition was |
| my children three things. | | | | fierce; only 50 outstanding students were |
| 1) Competence in Languages and Communication | | | | admitted to the program. By the end of this |
| I wanted my children to be well versed in | | | | three months period, we may invite students to |
| language and communication. They should have a | | | | join our internship at Citibank. As for the top |
| good command of English –be able to read, | | | | students, we’ll send them to New York, giving |
| speak, and to write well in English –because | | | | them the opportunity to experience Wall Street. I |
| English was the international language of | | | | don’t know if you’ve been there before, |
| commerce. Furthermore, I assumed even high | | | | but to be able to work in the field of finance on |
| school students knew that China was a rising | | | | Wall Street is as exciting as it gets. |
| power and its influence was far-reaching, from | | | | Advice for Students Who Opt for a Career in |
| the neighboring Pacific to the distant Atlantic. | | | | Banking |
| Therefore other than a good command of English, | | | | Remember to study hard, do a good job, and |
| it was equally important to have a command of | | | | savor this learning experience. As Citi Country |
| the Chinese language. | | | | Officer, one of my management philosophies is |
| I suppose, as students of business, you already | | | | that I always ensure that my management team |
| have a basic understanding of accounting. To a | | | | looks forward to their time spent at work. Other |
| certain extent, accounting is a language, a form of | | | | than sleeping hours, my staff spends most of |
| written language. Like sheet music, accounting is a | | | | their time working. If they didn’t enjoy their |
| specific kind of written language that allows | | | | work, they would be miserable. |
| diverse groups to communicate with each other. | | | | So when you study, appreciate the process. |
| With written notes, musicians are able to read and | | | | When you’re passionate about something, |
| play the same piece of music regardless of the | | | | enthusiasm follows. Enjoy what you do and your |
| kind of instruments they play. Likewise, accounting | | | | passion will only grow. My advice is, whatever you |
| is the language of the business world. Knowing the | | | | do, invest energy and commitment and I |
| fundamentals of accounting will enable you to read | | | | guarantee you’ll succeed. |
| and analyze financial statements. In this respect, | | | | My general attitude is, whether the work is |
| the languages you must master are English, | | | | interesting or not, whether or not it’s |
| Chinese and accounting. | | | | challenging, do it well. Even if it’s the simplest |
| Getting back to the private school my sons | | | | thing you’ve learned, you should understand |
| attended, I told the school that I wanted my | | | | the essence so well that if you close your eyes, |
| children to be well versed in languages, and to be | | | | you’re able to explain it inside and out. Once |
| articulate. Because in life, not only does one need | | | | you grasp the basic principles, even if you forget |
| an ‘IQ’ (intelligence) but also an | | | | it later, your logic will lead you back, and allow you |
| ‘EQ’ (emotional intelligence) to succeed. | | | | to use them in different applications. |
| Being able to express oneself and to write well | | | | Finally, I’m delighted that those of you |
| are equally important. | | | | present here have made it to this banking course. |
| 2) The Power of Logic | | | | I hope that you’re anticipating exciting learning |
| The second thing I wanted for my children was | | | | experience in the three months ahead. I hope |
| an understanding of logic. In other words, I | | | | you’ll be able to acquire precious knowledge |
| wanted my children to have a strong foundation | | | | and to learn from the experience of the |
| in mathematics. Mathematics is a subject that is | | | | Citibankers, who come to CUHK to teach. If you |
| based on logic; it teaches you how to reason, | | | | can’t benefit from their teaching, please let |
| how to deduce, how to interpret and arrive at a | | | | me know. I will talk it over with them. |
| conclusion. Obviously, as university students, you | | | | The world stands before you. I’ve worked all |
| learn many things besides mathematics. But what | | | | over the world, and Hong Kong is the sixth |
| you need most is to learn how to think, how to | | | | assignment. I feel very fortunate to be able to |
| ask questions. If you don’t have the answers, | | | | work in Hong Kong at this point of time. I think |
| at least know how to get to the core of the | | | | there are a lot of things in the world waiting for |
| matter and ask the right questions. | | | | you to discover and explore. Once again, |
| 3) Time Management Skills | | | | congratulations on your successful enrollment in |
| The third thing I wanted to teach my children | | | | this course. I wish you happiness and success in |
| was time management. They should learn to | | | | your studies. |
| organize their time, to arrange their schedules. | | | | When you study, appreciate the process. When |
| Schools should give students adequate homework | | | | you’re passionate about something, |
| and activities, teaching them how to use their | | | | enthusiasm follows. Enjoy what you do and your |
| time well. Although each of us only has 24 hours | | | | passion will only grow. My advice is, whatever you |
| a day, from experience, I know that a busy | | | | do, invest energy and commitment and I |
| person learns to make better use of his time. | | | | guarantee you’ll succeed. |
| Relatively speaking, those who have more free | | | | |