TAIPEI (TVBS News) — Mark Wei (魏寶生), chairman of Shin Kong Financial Holdings (新光金控) and Shin Kong Life Insurance (新壽), reassured employees on Friday (Oct. 11) that they will retain their positions for at least three years following the eventual merger with Taishin Financial Holdings (台新金控).
This announcement came after an extraordinary shareholders' meeting on Oct. 9, where the two companies approved a stock swap merger plan. If the Financial Supervisory Commission (FSC, 金管會) approves, the newly formed financial institution will become Taiwan's fourth-largest of its kind.
In an internal letter, Wei emphasized that this merger marks a historic first for Taiwan's financial sector, creating a mutually beneficial partnership with high business complementarity. He also highlighted the merger's potential to open a new chapter in Taiwan's financial industry.
Pledging that all employees will remain with the company for at least three years post-merger. Wei assured employees that their interests had been prioritized throughout the merger discussions, and recognized that employees are the company's most valuable asset.