Nelson Chai

Source: Wikipedia, the free encyclopedia.
Nelson Joosuk Chai
Education
Archipelago Exchange
merger
TitleCFO
SpouseJung
Children3
Korean name
Hangul
채주석[1]
Revised RomanizationChae Juseok
McCune–ReischauerCh'ae Chusŏk

Nelson Joosuk Chai (born 1965) is an American

Asia-Pacific region.[3][4] He is the former president of CIT Group and reported directly to then CEO John Thain.[5] On August 21, 2018, it was announced that Chai has been hired as the chief financial officer of Uber.[6][7]

Career

Chai served in senior positions at

Philip Morris before joining medical diagnostics products manufacturer Dade Behring in 1997 as corporate vice president of worldwide field finance; he later became their senior vice president of business development.[8]

Archipelago

Chai was named chief financial officer of

$750,000 and a bonus of $825,000 from the NYSE; combined with other payments, his cash compensation for the year totalled $2,168,922.[12]

Merrill Lynch

On 3 December 2007,

ongoing financial crisis.[16]

Bank of America

When

Ki-Myung Hong.[4] He had not yet relocated to Hong Kong at the time he quit. His departure left just one other member of Thain's management team in place at BofA, Tom Montag as head of sales and trading.[19]

CIT Group

In early 2010, the CIT Group reportedly approached Chai about the CFO position there after they hired Thain as CEO.[20] In June, they announced that Chai would be coming on board, but in the capacity of chief administrative officer and head of strategy instead. Chai's new responsibilities at CIT include global infrastructure and operating architecture, leadership of the insurance and consumer finance divisions, as well as business development and strategic planning.[21] A little over a year later, in August 2011, he was named CIT's president; following the promotion, he would keep his prior responsibilities as CAO and head of strategy, and in addition would take charge of CIT's corporate finance and vendor finance businesses.[5][22] His total compensation package for 2011 was $1.7 million, down by 40% from 2010, reflecting a broader downward trend in executive compensation packages at CIT to which the only exceptions were Thain himself and transportation division president Jeffrey Knittel.[23]

Personal life and other activities

Chai was born in

sport utility vehicle, but traded it in for a Toyota Prius hybrid electric vehicle in 2004.[25]

Chai has served on the board of directors of the United States-India Business Council since August 17, 2007.[26] He is also a member of the national board of directors of the U.S. Fund for UNICEF.[27]

References

  1. ^ a b "22일 일하고 29억 받는다 메릴린치 새 CFO 한국계 넬슨 채씨" [Worked for 22 days and got paid ₩2.9 billion; Merrill Lynch's Korean-descended CFO Mr. Nelson Chai], Chosun Ilbo, 2007-12-09, archived from the original on 2016-03-04, retrieved 2012-10-21
  2. ^ Xu, Jody (2010-06-01), "CIT Hires Ex-Thain Lieutenant Chai As Administrative Chief", Wall Street Journal, retrieved 2010-09-30[dead link]
  3. ^ a b "Merrill Hires Finance Chief", The New York Times, 2007-12-04, retrieved 2007-12-12
  4. ^ a b Chan, Cathy (2009-04-08), "Bank of America Said to Lose Asia Power Banking Team", Bloomberg, retrieved 2009-11-17
  5. ^ a b Rusli, Evelyn M. (2011-08-08), "CIT names Nelson Chai president", The New York Times, retrieved 2011-09-23
  6. ^ Korosec, Kirsten (August 21, 2018). "Uber finally hires a CFO as it heads for an IPO". TechCrunch. Retrieved 24 August 2018.
  7. ^ Conger, Kate (August 21, 2018). "Uber Appoints New Head of Finance as It Marches Toward an I.P.O." The New York Times. Retrieved 24 August 2018.
  8. ^ "Merrill Lynch Names Nelson Chai as Chief Financial Officer", Press release, Merrill Lynch, 2007-12-03, archived from the original on 2008-09-23, retrieved 2007-12-12
  9. ^ "Archipelago appoints Nelson Chai as chief financial officer" (PDF), Press release, Archipelago Exchange, 2000-06-12, retrieved 2007-12-12
  10. ^ Bailey, Jeff (2005-06-03), "A Maverick Becomes the Man", The New York Times, retrieved 2007-12-12
  11. ^ "A Change at Big Board", The New York Times, 2006-02-15, retrieved 2007-12-12
  12. ^ a b "Nelson Chai Profile", Forbes, archived from the original on December 6, 2007, retrieved 2007-12-12
  13. ^ "Merrill Lynch names NYSE's Nelson Chai as CFO", Forbes, 2007-12-03, archived from the original on February 7, 2008, retrieved 2007-12-12
  14. ^ a b Jeffs, Luke (2007-12-11), "Merrill to pay Chai $2.5m for three weeks' work", Online Financial News, Dow Jones, retrieved 2007-12-12
  15. ^ a b Jeong, Yeong-hyo (2007-12-08), "메릴린치 韓계 CFO 넬슨채 올해 총보수 310만弗 (Merrill Lynch's Korean-descended CFO Nelson Chai total compensation this year $3.1 million)", Chosun Ilbo, retrieved 2009-02-11
  16. ^ Harper, Christine (2008-12-08), "Morgan Stanley, Merrill Executives to Forgo Bonuses", Bloomberg, retrieved 2009-11-17
  17. ^ Comlay, Elinor (2008-12-18), "Bank of America names Merrill CFO to head Asia", Reuters, retrieved 2009-11-17
  18. ^ Keoun, Bradley; Trowbridge, Poppy (2008-12-18), "Bank of America Moves Chai; Berkery Said to Depart", Bloomberg, retrieved 2009-11-17
  19. ^ Farrell, Greg; Guerrera, Francesco (2009-02-03), "BofA Asia head and Thain ally leaves", Financial Times, retrieved 2009-11-17
  20. ^ "CIT Group Names Ex-Merrill Lynch Head John Thain CEO", RTTNews, 2010-02-07, retrieved 2010-09-30
  21. ^ "CIT Names Nelson Chai Chief Administrative Officer, Robert Rowe Chief Credit Officer", RTT News, 2010-06-01, retrieved 2010-09-30
  22. ^ "한인 넬슨 채, CIT 그룹 사장 됐다", Korea Daily New York, 2011-08-11, retrieved 2011-09-23
  23. ^ "CIT CEO Thain's 2011 pay rose 23 pct to $8.2 mln", Reuters, 2012-04-05, retrieved 2012-10-21
  24. ^ "Steering Away from Guzzlers", BusinessWeek, 2004-05-31, archived from the original on June 5, 2004, retrieved 2007-12-12
  25. ISBN 978-1-4051-6047-6
  26. ^ "USIBC appoints Nelson Chai to its Board of Directors", Economic Times, India, 2007-08-17, retrieved 2008-02-20
  27. ^ Board of Directors: Nelson Chai, U.S. Fund for UNICEF, retrieved 2009-12-01
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