【英语社会】纽曼告别深发展

After five years--four longer than he planned--Frank Newman is stepping down as chairman and chief executive officer of Shenzhen Development Bank Co. (000001.SZ), having presided over one of the great experiments of Chinese financial reform.

The first foreigner in the modern era to lead a Chinese bank, Newman was installed by private-equity firm Newbridge Capital, the Asian unit of TPG Inc., which had been granted management control--but a minority stake--by China's regulators who hoped Western financial know-how might salvage the flailing provincial lender.

It's a model other foreigners have tried to replicate when investing in Chinese financial institutions, but they have often found that the minority shareholder status results in them being sidelined despite good intentions at the deal's inception.

When asked how he maintained authority, Newman was circumspect.

'It wasn't quite control,' he said. 'It was a case of working with the government to give them a sense that the bank was moving in the right direction.'

The bank's results probably helped Newman keep on keeping on. Over the five years, the bank's profits grew an average 75% a year and--likely a key point of interest for the regulators--the number of employees doubled.

Still, Newman's degree of influence over the bank will be difficult to replicate. During his time at the bank he was both chairman and CEO, a pairing that China's regulators usually avoid but made an exception 'because the bank needed clear leadership.'

'I joke that I am the first and last CEO-chairman of a Chinese bank,' Newman said.

Having already helped turn around the fortunes of Bank of America Corp. (BAC) in the 1980s and Bankers Trust in the 1990s, he brought a unique skills set that was in short supply in China. He is also a former director of Dow Jones & Co., the publisher of this newswire and The Wall Street Journal, now owned by News Corp. (NWSA).

Newman thinks that time has now passed, and doesn't expect that foreigners will be a fixture at the helm of China's banks in the future--although in an odd twist the incoming president of Shenzhen Development is Richard Jackson, an Englishman who just left the same role at Ping An Bank. Ping An Insurance Group Co. (601318.SH) recently bought out TPG's stake, making it Shenzhen Development's largest shareholder.

Newman's term on Shenzhen Development Bank's board was due to end at the end of this year, but he leaves early to help ease Ping An's takeover of management.

He currently doesn't have plans for what to do next, but hopes to find a role where he can use his experience in China, and expects to be dividing his time between New York and Hong Kong, at least at first. He will continue as an advisor to the bank until year end.

法兰克•纽曼(Frank Newman)辞去了深圳发展银行(Shenzhen Development Bank Co.)董事长兼首席执行长的职位。此时离上任已时隔五年，比他本人计划的多四年；在此期间，纽曼领导深发展进行了中国金融改革的一场伟大试验。

Bloomberg News法兰克•纽曼2009年2月24日摄于深圳纽曼是当代第一位领导中资银行的外国人，是由TPG Inc.亚洲子公司、私募股权投资公司新桥资本(Newbridge Capital)安排上任的。中国监管层让新桥资本获得了管理层控制权（但只有少数股权），希望能够利用西方金融管理经验来拯救这家濒死的省级银行。

深发展成了其他外商投资中国金融机构时力图复制的一个样板，但他们发现，尽管交易的出发点是好的，但由于处在少数股东地位，他们常常被边缘化。

被问到怎样保持权威时，纽曼表现得很慎重。

他说，并不完全是控制权，而是同政府合作，让他们觉得这家银行是在朝着正确的方向发展。

或许是深发展的业绩帮助纽曼坚持坚持再坚持。在这五年里，深发展的利润平均每年增长75%（这可能是监管层的最关心的），员工数量翻了一番。

但纽曼对深发展的影响力将是难于复制的。在深发展工作期间，他既是董事长又是CEO。中国监管层常常避免这种身兼两职的情况，但对纽曼破例，因为深发展需要有“明确的领导”。

纽曼说，开个玩笑，我是中资银行第一位也是最后一位CEO兼董事长。

任职深发展以前，纽曼曾分别于20世纪80年代和90年代帮助扭转美国银行集团(Bank of America Corp.)、Bankers Trust的命运。他把中国缺少的一套独特技巧带了进来。他还曾担任道琼斯通讯社及《华尔街日报》出版商道琼斯公司(Dow Jones & Co.)的董事。道琼斯公司现为新闻集团(News Corp.)所有。

纽曼觉得任职深发展的那段时间已属过去，认为将来中资银行的一把手职位不再会被外国人长期掌管。不过奇怪的是，深发展新任行长理查德•杰克逊(Richard Jackson)是个英国人。杰克逊刚刚从平安银行(Ping An Bank)行长的职位离任。中国平安保险（集团）股份有限公司(Ping An Insurance Group Co.)最近买下了TPG所持全部股份，成为深发展的大股东。

纽曼在深发展董事会的任期本于今年年底结束，但他为帮助平安保险顺利接管而提前离任。

对于接下来怎么走，纽曼目前还没有计划，但他希望找到一个可以利用其中国经验的职位，并期待一半时间在纽约，一半时间在香港，至少一开始是这样。在年底之前，他将继续担任深发展的顾问。