Mr. Wong is a seasoned business strategist advising boards and CEOs on cross border investments involving China and India. He became President and CEO of Sino Strategies Group after serving nine years as Ernst & Young’s Americas Coordinating Partner for China. As EY’s resident China expert in the U.S., he oversaw business advisory and financial due diligence engagements on Chinese M&A and JV target companies for NYSE and NASDAQ clients. He advises companies and private equity firms across industry sectors on the economic, financial and operational aspects of doing business in China and India.
China born and educated through high school, Mr. Wong is fluent in Chinese. He managed market assessment, strategic planning, and competitive cost analysis engagements while a management consulting manager at Peat, Marwick, Mitchell & Co. In the early 1980's he was appointed to a U.S. Presidential (Grace) Commission staff to make efficiency and productivity improvement recommendations at the United States Treasury to President Ronald W. Reagan.
While Corporate Director of Finance at Sears, Roebuck and Co. (then FORTUNE #9), Mr. Wong directed Sears’ global long-term financing, acquisitions and divestitures, interest rate risk management, and participated in the successful launch of the Discover credit card in 1986 through a “non bank” bank (Industrial Loan Company). He led Sears’ credit rating defense at Moody’s, Standard & Poor’s and Fitch based on the cash flow and asset quality of Sears Retailing, Allstate Insurance, Dean Witter Financial Services and Coldwell Banker real estate operations. He structured the first retail industry securitization transaction using SearsCharge receivables to assure Sears’ continual access to the investment grade debt market. He benchmarked senior executives’ compensation and stock option programs, helped execute two “right sizing” initiatives, and ran a share repurchase program as part of Sears comprehensive anti-takeover defense. While serving on the Board of Directors of Sears Investment Management Company, he explored direct investment opportunities in Sears’ Chinese suppliers. Later, as Managing Director and CFO of a merchant banking firm, he specialized in bringing Western capital and technology into China.
Since 1994, Mr. Wong has accumulated substantial insights on how business is done in China and India, formally and informally, by law and by custom. He has observed why and how many Western companies succeeded and failed in Asia through numerous client engagements. He combines this extensive experience with his native Chinese cultural wave length to render expert strategic advice to assist companies create value in China and India.
A CPA, Mr. Wong is a qualified financial expert on Sarbanes Oxley and Foreign Corrupt Practices Act matters. He has chaired the audit and finance committees of a $1.5 billion foundation since 1989. He holds a BS in Accounting (with distinction) from Indiana University and a Harvard MBA.
195 North Harbor Drive, Suite 3903, Chicago, IL 60601 TEL: + 312-297-0188 FAX: + 866-287-5715
desmond . wong @ sinostrategies . com