Hong Kong

Chief Executive's Council

of International Advisors



The establishment of the Chief Executive's Council of International Advisers (CECIA) was announced in the 1998 Policy Address. The CECIA advises the Chief Executive from an international perspective on strategic issues pertinent to the long-term development of Hong Kong. In particular, the Advisers are invited to advise on how global and regional trends might affect Hong Kong's development, how the international business community perceives Hong Kong's plans and programmes of activities, as well as what measures Hong Kong should take to enhance its role as a world-class commercial and financial centre and as a dynamic Special Administrative Region of China under the concept of "One Country, Two Systems".


The CECIA is chaired by the Chief Executive and has 19 non-official members, all of whom are prominent international business and corporate leaders. The Chief Secretary for Administration, Financial Secretary, Secretary for Commerce, Industry and Technology and Head of the Central Policy Unit are ex-officio members.


The CECIA meets once a year. The inaugural, second and third meetings were held on 20 January 1999, 17 November 1999, and 30 November 2000 respectively. Issues discussed in the previous meetings included Asia's adjustment to the financial turmoil, improving Hong Kong's competitiveness as well as opportunities and challenges for Hong Kong after China's accession to the World Trade Organisation . The fourth meeting was held on 8 November 2001. Council members discussed the implications of the global economic situation on Hong Kong's economy and strategies for strengthening the economic ties with the Pearl River Delta.





Craig R. Barrett


Craig R. Barrett was born on August 29, 1939 in San Francisco, California. He attended Stanford University in Palo Alto, California from 1957 to 1964, and received his Bachelor of Science, Master of Science and Ph.D. degrees in Materials Science. After graduation, he joined the faculty of Stanford University in the Department of Materials Science and Engineering, and remained through 1974, rising to the rank of Associate Professor. Dr Barrett was a Fulbright Fellow at Danish Technical University in Denmark in 1972 and a NATO Postdoctoral Fellow at the National Physical Laboratory in England from 1964 through 1965.


Dr Barrett joined Intel Corporation in 1974 as a Technology Development manager. He was named a vice president of the corporation in 1984, promoted to senior vice president in 1987, and executive vice president in 1990. Dr Barrett was elected to Intel Corporation's Board of Directors in 1992 and was named the company's Chief Operating Officer in 1993. He became Intel's fourth President in May 1997, and Chief Executive Officer in 1998.


In 1969, Dr Barrett was the recipient of the Hardy Gold Medal from the American Institute of Mining and Metallurgical Engineers, and is a member of the National Academy of Engineering. Dr Barrett is the author of over 40 technical papers dealing with the influence of microstructure on the properties of materials, and a textbook on materials science,  Principles of Engineering Materials, written in the 1970's, which remains in use today at universities throughout the country.


Dr Barrett serves on the Twenty-First Century Commission on U.S. Foreign Economic Policy In A Globalized Economy and is Co-Chairman of the Business Coalition for Excellence in Education. Dr Barrett is a member of the Board of Directors for Intel Corporation, Qwest Communications International Inc., the U.S. Semiconductor Industry Association, Achieve, the Silicon Valley Manufacturing Group, and the National Forest Foundation




Karl-Hermann Baumann


Dr.rer.oec. Karl-Hermann Baumann was born on July 22, 1935 in Dortmund, Germany.


Educational Background


Secondary education




German, history and business administration

Dipl.-Kfm., Dr.rer.oec.


Professional History



University of Saarland, Saarbruecken

Assistant in the Department of Business Administration



Siemens AG, Corporate Finance

Various positions in Financial Accounting and Financing



Siemens Capital Corporation, New York, N.Y.;

Siemens Corporation, Iselin, N.J., USA:

Senior Vice President



Head of Financial Accounting Division,

Corporate Finance



Vice President of Siemens AG



Appointed to the Managing Board of Siemens AG



Appointed Head of Corporate Finance, Member of the Executive Committee of the Managing Board of the Siemens AG



Chairman of the Supervisory Board of Siemens AG




Maarten Van Den Bergh


Maarten van den Bergh Maarten van den Bergh is currently the Chairman of the Lloyds TSB Group after a career in the Royal Dutch Shell Group of Companies from which he retired in July 2000, having served as a Group Managing Director from 1992 till 2000 and as President of Royal Dutch Petroleum and Vice-Chairman of the Committee of Managing Directors from 1998 till 2000. Mr van den Bergh has lived in the UK for many years at different stages of his career.


Biographical details


1998 to 2000

President of Royal Dutch Petroleum Company and Vice-Chairman of the


Committee of Managing Directors.


1992 to 2000

Group Managing Director of the Royal Dutch Shell Group of Companies.



Western Hemisphere and Africa Regional Co-ordinator, Shell International.



Chairman, Shell Companies in Thailand.



Deputy Group Treasurer, Shell International



East and Australasia Area Co-ordinator.



Vice President Corporate and General Affairs, Pilipinas Shell Petroleum Corporation.


1968 to 1979

Different finance positions with Shell Companies in the UK, Japan, Venezuela and Indonesia



Joined Shell.



Graduate in economics, University of Groningen, Netherlands.



Born in New York, USA.


Maarten van den Bergh was appointed President of Royal Dutch Petroleum and Vice-Chairman of the Committee of Managing Directors of the Royal Dutch Shell Group of Companies in July 1998. He had been a Group Managing Director since July 1992 and Director of Finance since 1994.


A first posting to Japan set the scene for a career in Shell with a strong focus on Asian operations. Trained as an economist, Maarten van den Bergh then moved into the Treasury function, based in Shell Venezuela, where in his last year there he oversaw the financial implications of nationalisation.


A return to the Pacific basin encompassed a period in Indonesia as Finance Manager for many local operations, followed by an appointment to the Philippines, to develop the business and oversee the construction of a major LPG terminal. While in the Philippines, he was involved in the creation of the Shell Foundation, which remains an important contributor to local skills training.


As Area Coordinator for East and Australasia, Deputy Group Treasurer and then Regional Coordinator for the Western Hemisphere and Africa, he was based in London. In Shell's Treasury Department over the period of the City's "Big Bang", he saw radical changes in banking practice, and started the first internal guidelines publication to help local companies and the Group manage their funding in the new financial market place.


Special interests within the Committee of Managing Directors


East and Australasia, Finance, Social Investment Committee.




Although born in America, Maarten van den Bergh has Dutch nationality. He is married with two daughters and lives in the UK. He is an avid reader of 19th and early 20th century European history, a period of major changes in industrial, political, military and cultural development, all of which have lessons for today.


Outside appointments


Supervisory Board Member of Royal Dutch Petroleum Company. Supervisory Board Member of the Dutch Central Bank until 1st July 2000. Advisor to the Chief Executive of the Hong Kong Special Administrative Region. Advisor to the Governor of Guangdong Province of the People's Republic of China until mid-2000. Non-executive director of British Telecommunications plc from September 2000.




Cor Boonstra


Cor Boonstra, born in 1938 in Leeuwarden, the Netherlands, became president of Royal Philips Electronics on October 1, 1996. He is also the Chairman of the company's Board of Management.


Mr Boonstra retired in April 2001.


Mr Boonstra began his career with Unilever in 1955. In 1974 he became general manager of Intradal, a Sara Lee company and was appointed president and CEO four years later. After this company's integration into Douwe Egberts, Mr Boonstra took up several executive positions at Sara Lee/DE. In 1994 he was appointed as executive vice-president of Philips, with responsibility for the Asia Pacific region, and later on as CEO of Philips Lighting.




Andre Desmarais


Mr André Desmarais was born on 26 October 1956 in Ottawa.


Mr Desmarais received his Bachelor of Commerce degree from Concordia University and he began working at Power Corporation in 1981. Taking up different responsibilities at Power Corporation and some of its subsidiaries over the years, Mr Desmarais was appointed in 1996 President and Co-Chief Executive Officer of Power Corporation of Canada and Deputy Chairman of Power Financial Corporation.


Mr Desmarais is a Director and/or Member of the Board of subsidiaries and companies affiliated to Power Corporation including Great-West Lifeco Inc., Investors Group Inc., London Insurance Group Inc., Pargesa Holding S.A., Groupe Bruxelles-Lambert S.A., Bertelsmann A.G. Mr Desmarais is also a Director of CITIC Pacific Ltd. and Bombardier Inc.


In addition, Mr Desmarais is Chairman of the Canada China Business Council; Member of the International Advisory Council of CITIC; Member of the Trilateral Commission; Member of the ChairmanOs International Advisory Council of the Americas Society; Member of the Business Council on National Issues and Member of diverse foundations and trusts in Canada.




Lawrence J. Ellison


Larry Ellison has been Chief Executive Officer of Oracle Corporation since he founded the company in 1977.


He has received numerous honors and awards, including Entrepreneur of the Year from the Harvard School of Business. Mr Ellison sits on the board of Apple Computer, Inc. and the Dian Fossey Gorilla Fund.




Christopher B Galvin


Mr Christopher B. Galvin began working at Motorola in summer jobs in 1967 and joined the company full-time in 1973. For the next decade, he held sales, sales management, marketing management and product management assignments in the Communications Sector, the two-way radio business in that era.


In 1983, he joined Tegal Corp., a wholly owned subsidiary of Motorola and manufacturer of plasma etching and stripping equipment for the semiconductor industry, as vice president, marketing sales and service. A year later he was named vice president and general manager of Tegal's U.S. operations.


He became vice president and director of the Communications Sector's Paging Division in Boynton Beach, Fla. in 1985, general manager of the division in 1986, and a corporate vice president in 1987. He moved to senior vice president and chief corporate staff officer in January 1988, and became a member of the Policy and Operating Committees of the corporation. In May 1988, he was elected to the Board of Directors of Motorola, Inc. and elevated to an executive vice president in May 1989. In January 1990, he joined the office of the CEO as senior executive vice president and assistant chief operating officer. He was elected president and chief operating officer in December 1993, chief executive officer in January 1997, and chairman of the board in June 1999.


Mr Galvin received a bachelor's degree from Northwestern University, Evanston, Illinois, and a master's degree with distinction from the Kellogg Graduate School of Management at Northwestern. He is a director of the Illinois Coalition for science and technology; a trustee of Northwestern University and the American Enterprise Institute; a member of the Business Roundtable, Bechtel Board of Counselors, Business Council, American Society of Corporate Executives, and the Catalyst Board; and an advisory board member for the American Society for Engineering Education and the National Underground Railroad Freedom Center.




Maurice R Greenberg


Mr Greenberg is Chairman and Chief Executive Officer of American International Group, Inc. (AIG), a leading global insurance and financial services organization operating in 130 countries and jurisdictions worldwide. He was President and Chief Executive Officer of AIG from 1967 to 1989, when he became Chairman and Chief Executive Officer. Mr Greenberg joined AIG in 1960 and was elected President of its American Home Assurance Company subsidiary in 1962.


Mr Greenberg served in the U.S. Army in Europe during World War II and in the Korean conflict, rising to the rank of Captain. He is a recipient of the Bronze Star. He received his pre-law certificate from the University of Miami and an LL.B. from New York Law School in 1950. He was admitted to the New York Bar in 1953. He has been granted honorary degrees from a number of institutions, including New York Law School, Brown University and Middlebury College.


Mr Greenberg is Chairman of the Asia Society, and is the founding Chairman of the U.S.- Philippines Business Committee. He is Vice Chairman of the U.S.-ASEAN Council on Business and Technology, and the Council on Foreign Relations, as well as a member of the U.S.-China Business Council, The Business Roundtable and the President's Advisory Committee for Trade Policy and Negotiations.


Mr Greenberg is a member of the Board of Directors of the New York Stock Exchange and is the past Chairman, Deputy Chairman and Director of the Federal Reserve Bank of New York. He is Chairman Emeritus of the Board of Trustees of New York Presbyterian Hospital and the Board of Governors of New York Presbyterian Healthcare System, Inc. He also serves as a member of the Board of Overseers of the Weill Medical School of Cornell University. Mr Greenberg is a Life Trustee of New York University, a Trustee of the American Museum of Natural History, and the College of Insurance, and is active with a number of other civic and charitable organizations. He is Chairman of The Starr Foundation, and in that capacity he oversees the disbursement of major financial support to academic, medical, cultural and public policy institutions.


Mr Greenberg is married and has four children.




Hilmar Kopper


Mr Hilmar Kopper was born on March 13, 1935 in Oslanin, West Prussia




since 1997

Chairman of the Supervisory Board of Deutsche Bank AG



Deutsche Bank AG, Spokesman of the Group Board



Deutsche Bank AG, Member of the Group Board



Deutsche Bank AG, Executive Vice President



European Asian Bank AG, Hamburg, Member of the Board of Managing Directors



Deutsche Bank AG, Manager of Leverkusen Branch



Deutsche Bank AG, Leverkusen Branch



Deutsche Bank AG, Foreign Department, Head Office Dusseldorf



J. Henry Schroder Banking Corp., New York, trainee



Rheinisch-Westfalische Bank AG, Koln-Muhlheim, bank apprenticeship


Chairman of the Supervisory Board:

DaimlerChrysler AG


Member of the Supervisory Board:

Akzo Nobel nv, Bayer AG, Solvay S.A.


Non-executive Board Member:

Xerox Corporation, Unilever N.V.


Commissioner for Foreign Investment in Germany: appointed by the German Government




Gerald M. Levin


Gerald M. Levin is Chief Executive Officer of AOL Time Warner Inc. As CEO, Mr Levin is in charge of all the company's businesses and divisions. He is a member of AOL Time Warner's Board of Directors.


Mr Levin was formerly Chairman and Chief Executive Officer of Time Warner Inc., the world's leading media and entertainment company. He was elected Chairman of the Board on January 21, 1993. Mr Levin was the leading architect of the Time Inc. and Warner Communications merger in 1990, as well as the prime mover of Time Warner's agreement to merge with Turner Broadcasting System. That merger, acknowledged by many observers as one of the most successful corporate mergers ever, closed on October 10, 1996.


Under Mr Levin's leadership, Time Warner achieved its status as a world-class, blue-chip company by building on the best corporate and divisional management in the media and entertainment industry and on gold-standard brands in every product category. Time Warner also achieved the size, financial strength and disciplined strategic plan necessary to bring a superior return to its shareholders and developed the strong values that infused all of the company's activities.


Gerald Levin became CEO of Time Warner in December 1992 after being named President and Co-Chief Executive Officer in February 1992. From May 1991 he had been Chief Operating Officer and Vice Chairman of Time Warner, a position he attained when Time Inc. merged with Warner Communications Inc. on January 10, 1990. At Time Inc., Mr Levin was named Vice Chairman and elected to the Time Inc. Board of Directors on July 21, 1988. Previously, he had been a member of the Board of Directors from July 1983 to January 1987.


Mr Levin joined Time Inc. in 1972 when Home Box Office, the company's pay-cable subsidiary, was in its developmental phase. He served as HBO's Vice President of Programming, was named its President and Chief Executive Officer in March 1973 and was promoted to Chairman in May 1976. Mr Levin made the historic 1975 decision to distribute Home Box Office via satellite, which helped create the modern cable industry.


Previously, Mr Levin was an attorney from 1963-1967 with the New York City firm of Simpson Thacher & Bartlett. From 1967-1971 he was affiliated with Development and Resources Corporation, an international investment and management company, where he became General Manager and Chief Operating Officer in 1969. Following that company's acquisition in 1971 by International Basic Economy Corporation (IBEC), he served for a year as IBEC representative in Tehran, Iran. In 1960, Mr Levin graduated Phi Beta Kappa from Haverford College and in 1963 received a legal degree from the University of Pennsylvania Law School, where he was note editor of the Law Review. Mr Levin has received honorary degrees from the University of Vermont, Texas College, Middlebury College, the University of Denver and Haverford College. He is also former Chairman of the Board of Haverford College.


Mr Levin serves as a Director of the New York Stock Exchange Inc. He is also a member of the Board and Treasurer of the New York Philharmonic; a member of the Council of International Advisors to the Chief Executive of Hong Kong; the Board of the National Cable Television Center and Museum, The Aspen Institute and The Museum of Jewish Heritage-A Living Memorial to the Holocaust; Trustee Emeritus of Hampshire College; a member of the Council on Foreign Relations, The Trilateral Commission and the Economic Club of New York.




Gerard Mestrallet


Gérard Mestrallet was born in Paris on April 1, 1949. He is graduate of Ecole Polytechnique, Ecole de 1'Aviation Civile, Institut d'Etudes Politiques (Toulouse) and trained as a senior civil servant at the Ecole Nationale d'Administration.


Gérard Mestrallet was Civil administrator in the Treasury and Advisor on Industrial Affairs to Jacques Delors Finance Minister.


In 1984 he went on to become Advisor to the Chairman of Compagnie de Suez. In 1986 he was then appointed Senior Executive Vice President in charge of Industrial Affairs.


In 1991 Gérard Mestrallet became Chief Executive Officer and Chairman of the Management Committee of Société Générale de Belgique, he held this position until 1995.


In July 1995 Gérard Mestrallet was appointed Chairman and Chief Executive Officer of Compagnie de Suez. Gérard Mestrallet was Chief Executive Officer and Chairman of the Executive Board of Suez Lyonnaise des Eaux until May 4 when he was appointed Chairman and Chief Executive Officer of Suez.


Gérard Mestrallet is:


Chairman of the Board of Tractebel,

Director of the Board of Saint-Gobain and Ecole Polytechnique,

Member of the Supervisory Board of AXA, Casino, Crédit Agricole Indosuez and Société du Louvre,

Advisor to the Mayor of the Shanghai,

Member of the Chief Executive of Hong Kong's Council of Advisors,

Member of the European Round Table of Industrialists




Rupert Murdoch


Rupert Murdoch was born in Melbourne, Australia, in March 1931. He graduated from Oxford University in 1953 and, after working at the Daily Express in London, returned to Australia.


In 1954 Mr Murdoch took control of News Limited, an Australian-based public corporation whose only key asset at the time was a majority interest in the number-two daily newspaper in Adelaide, South Australia.


Mr Murdoch's company acquired the Daily Mirror in Sydney in 1960 and, in 1964, launched a national newspaper, The Australian. In 1969, Mr Murdoch ventured into the United Kingdom, acquiring the Sunday paper, News of the World, and later The Sun newspaper. In the 1980s the Company purchased The Times and Sunday Times and HarperCollins Publishers, one of the world's largest and most prestigious book publishers. The Company's publishing interests include capital city and suburban newspapers in Australia, as well as The New York Post and TV Guide in the United States.


During the 1980s, News Corporation purchased the Twentieth Century Fox Film Corporation and launched the FOX television network in the United States. Fox is now a leading film and television production company, a major-market television station owner, a force in broadcast and cable television, and owner of the famous Los Angeles Dodgers baseball team.


News Corporation is the major shareholder in BSkyB, the UK's first satellite broadcasting operation, which was launched in 1989. News Corporation owns 100 percent of Hong Kong-based STAR TV, the first and only pan-Asian satellite broadcast service, providing locally oriented programming services to more than 300 million people across Asia, the Indian sub-continent and the Middle East. Mr Murdoch's company also has satellite assets in Latin America and continental Europe and cable assets in Australia.


Mr Murdoch is Chairman and Chief Executive of News Corporation, one of the world's largest vertically integrated media companies. He is also Chairman and Chief Executive Officer of Fox Entertainment Group.


Mr Murdoch is married and has four children.




Henry M. Paulson, Jr.


Henry M. Paulson, Jr. is Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc. He is a member of the Management Committee, and previously served as Co- Head of the Investment Banking Division. Mr Paulson joined the firm's Chicago office in 1974 and was elected a Partner in 1982. He was made Managing Partner of the Chicago office in 1988, and Partner-in-Charge of the Midwest Investment Banking Region in 1983.


Mr Paulson is a member of the Board of Directors of the New York Stock Exchange, as well as a Director and a member of the Executive Committee of the New York City Investment Fund. He serves on the Advisory Board of the J.L. Kellogg Graduate School of Management at Northwestern University and is a member of the Board of Directors of the Associates of Harvard Business School. Additionally, Mr Paulson serves as Chairman of the Advisory Board of the Tsinghua University School of Economics and Management and is a member of the Governing Board of the Indian School of Business. He is a member of the Board of Directors of The Peregrine Fund, Inc., and Co-Chairman of the Asia/Pacific Council of The Nature Conservancy.


Prior to joining Goldman Sachs, Mr Paulson was a member of the White House Domestic Council serving as Staff Assistant to the President from 1972 to 1973 and as Staff Assistant to the Assistant Secretary of Defense (Comptroller) at the Pentagon from 1970 to 1972.


Mr Paulson received his M.B.A. from Harvard and A.B. from Dartmouth College, where he was named Phi Beta Kappa and All Ivy, All East and honorable mention All American for football.


Mr Paulson and his wife, Wendy, reside in New York City and in Barrington, Illinois. They have a son, Merritt, and a daughter, Amanda.




William Purves


Sir William Purves was born in Kelso, Scotland in December 1931.


He was educated at Kelso High School and commenced training with The National Bank of Scotland in 1948. He was called for military service in 1950 and was commissioned into The King's Own Scottish Borderers in January 1951. Most of his military service was with the United Nations in Korea where he was awarded the Distinguished Service Order.


In 1954 he joined The Hongkong and Shanghai Banking Corporation serving in several countries in Asia before being appointed Chief Executive of the bank in Hong Kong in January 1986, adding the position of Chairman at the end of the same year. In addition, he became Chairman of the newly created HSBC Holdings in 1991. In 1993 he ceased to be Chairman and C.E.O. of The Hongkong and Shanghai Bank on the transfer of HSBC Holdings plc to London. In the same year he also became Chairman of Midland Bank and continued as Chairman of the British Bank of the Middle East, a position he had assumed in 1979. In May 1998 after 44 years service with the HSBC Group he retired from all the foregoing appointments.


He was a member of the Executive Council of Hong Kong from 1987 until 1993.


He was appointed a Commander in the Order of the British Empire in 1988 and was Knighted by Her Majesty The Queen in 1993. He was awarded the Grand Bauhinia Medal in 1999.


Sir William is a non-executive Director of Shell Transport and Trading Company, and is Deputy Chairman of Alstom a.s. He is a member of the International Council of Textron Inc.


Sir William is married, lives in London and has four children from a previous marriage.




Mr Sutherland is non-executive Chairman of BP p.l.c. (1997 - current). He is also Chairman and Managing Director of Goldman Sachs International (1995 - current).


Of Irish nationality he was born on 25 April 1946 and was educated at Gonzaga College, University College Dublin and the King's Inns. Mr Sutherland graduated in Civil Law. He was also admitted to practice before the Supreme Court of the United States of America. From 1969 to 1981 he practised at the Bar.


Mr Sutherland currently serves on the Board of Directors of:


Investor AB

Telefonaktiebolaget LM Ericsson

The Royal Bank of Scotland Group plc


and is associated with the following organisations:


Trilateral Commission (Europe) Chairman

World Economic Forum, Foundation Board Member

The European Institute (USA), Director

The Conference Board, member of the Board of Trustees

Chief Executive's Council of International Advisers, Hong Kong


Prior to his current position, Mr Sutherland served as:


Attorney General of Ireland (1981-1984)

EC Commissioner responsible for Competition Policy (1985-1989)

Chairman of Allied Irish Banks (1989-1993)

Director General of The World Trade Organisation, formerly GATT (1993-1995)


His awards include the Gold Medal of the European Parliament (1988), the First European Law Prize (Paris 1988), The David Rockefeller Prize, the Grand Cross of Civil Merit (Spain 1989), the Grand Cross of King Leopold II (Belgium 1989), the New Zealand Commemorative Medal (1990), Chevalier de la Legion d'Honneur (France 1993) Commandeur du Wissam (Morocco 1994) the Order of Rio Branco (Brazil 1996) and the Grand Cross of the Order of Infante Dom Henrique (Portugal 1998). He is the honorary Consul for Uruguay in Ireland. He was also presented with the Robert Schuman Medal for his work for European Integration. Furthermore, he received the European Person of the Year Award (1988), the Irish People of the Year Award (1989), the Consumer for World Trade Annual Award (1994) for distinguished service, and the Dean's Medal (1996) from the Wharton School, University of Pennsylvania.


He has received eleven honorary doctorates from universities in Europe and America. He was awarded an honorary fellowship of the London Business School in recognition of his contribution to business and trade (1997).


His publications include the book 'Premier Janvier 1993 ce qui va changer en Europe' (1989) and numerous articles in law journals. He chaired the Committee that reported to the EEC Commission on the functioning of the Internal Market after 1992 (the Sutherland Report).


Mr Sutherland is married and has three children. His leisure interests include reading and sport.




Tasuku Takagaki


Mr Tasuku Takagaki was appointed Senior Advisor of The Bank of Tokyo-Mitsubishi, Ltd. in June 2000. Prior to assuming his present position, he was Chairman of the Board of the bank which was established by the merger of Mitsubishi Bank, Limited and the Bank of Tokyo, Ltd. in April 1996.


Mr Takagaki began his career with The Bank of Tokyo, Ltd. in 1953 at Economic Research Division. He took some overseas assignments such as Assistant Manager at New York Agency. From 1966 to 1971, he was Deputy Treasurer at Asian Development Bank in Manila, Philippines. Back at the Bank of Tokyo, he became General Manager of International Investment Division in 1975, and was elected member of the board of directors in 1979 as General Manager of Corporate Planning Division. He also acted as Resident Managing Director for Europe from 1982 to 1984. Mr Takagaki was promoted to President of the bank in 1990 and served until 1997, going through the merger in 1996.


Born in 1928 in Tokyo, Mr Takagaki graduated from University of Tokyo as Bachelor of Economics in 1953.


Mr Takagaki serves as Vice Chairman of Institute of International Finance in Washington DC, member of Japan for ABAC Business Advisory Council, Chairman of Japan-Western Americas Association, Chairman of Japan Association for Trade with Russia & Central- Eastern Europe, as well as member of International Advisory Committee for several official agencies.




Shoichiro Toyoda


Dr Shoichiro Toyoda, was born in 1925, and graduated from Nagoya University in 1947 with a degree in engineering. He joined Toyota in 1952 and later earned a doctorate in engineering. His doctoral thesis was about fuel injection.


Dr Toyoda became managing director at the Company in 1961. After promotions to senior managing director in 1967 and to executive vice president in 1972, he was named president of the Company's marketing organization in 1981. Dr Toyoda assumed the presidency of the newly integrated Toyota Motor Corporation upon the merger of the sales and production organizations in 1982, and later served as chairman from 1992 to 1999. Dr Toyoda became honorary chairman of the Company in 1999.


Automotive technology, quality control, and factory management have been primary emphases for Dr Toyoda throughout his career, and he received the Deming Prize in 1980 for his contributions to quality control. In 1984, he received Japan's prestigious Medal with Blue Ribbon for outstanding public service through business. Dr Toyoda, who is a prominent spokesman for the automotive industry, has served as chairman of the Japan Automobile Manufacturers Association. He also has served as both vice chairman and chairman of the Japan Federation of Economic Organizations (Keidanren), and currently serves as honorary chairman of the organization. In 1995, Dr Toyoda was awarded Knight Commander of the British Empire, U.K.; Order Francisco de Miranda, First Class, Venezuela; and Grand Cordon of the Order of the Sacred Treasure by the Emperor of Japan. In 1996, Dr Toyoda assumed duties as Chairman of the Economic Council of Japan's Economic Planning Agency, and was awarded the Ordem Nacional do Cruzeiro do Sul, Brazil. In 1997, Dr Toyoda was selected as Chairman of Japan Association for the 2005 World Exposition. In 1998, Dr Toyoda was awarded the Order of Merit, Turkey; the Legion D'Honneur, Commandeur, France; and the Grande Ufficiale, Italy. In 1999, Dr Toyoda was appointed Honorary Companion (AC) within the General Division of the Order of Australia. He was also honored by the government of Austria with the Grand Decoration of Honor in Gold with Star. In 2000, Dr Toyoda was awarded the highest level (Comendador) of the Medal of Isabel la Catolica by H.R.H. Juan Carlos, King of Spain, and also the FISITA Medal, as only the second Japanese (after Eiji Toyoda) to receive the top honor bestowed by the France-based Federation Internationale des Societes d'Ingenieurs des Techniques de l'Automobile (the International Federation of Automotive Engineering Societies). In 2001, he earned the Federal Republic of Germany's Commander's Cross of the Order of Merit.


Dr Toyoda enjoys traditional Japanese music, gardening, and golf. He and his wife, Hiroko, have a daughter and a son.




Paul A. Volcker


Mr Paul A. Volcker was born in 1927 in Cape May, New Jersey. He graduated from Princeton University in 1949, and in 1951 he received an M.A. in political economy and government from the Harvard University Graduate School of Public Administration. He also attended the London School of Economics as a post-graduate student in 1951-52 and has received honorary degrees from a number of universities, including his three Alma Maters, Princeton, Harvard and London University.


In the course of his career, Mr Volcker worked in the Federal Government for almost 30 years, serving in high office under five presidents. Before becoming Chairman of the Board of Governors of the Federal Reserve System in 1979, he spent more than four years as President of the Federal Reserve Bank of New York.


Mr Volcker retired as Chairman and CEO of Wolfensohn & Co., Inc., upon the merger of that firm in 1996 with the Bankers Trust Company. He is currently serving as a director of or consultant to a number of corporations and non-profit organizations.


Mr Volcker lives in New York City and has a son, a daughter and four grandchildren.




John F. Welch, Jr.


Mr John F. Welch, a native of Salem, Massachusetts, received his B.S. degree in chemical engineering from the University of Massachusetts in 1957 and his M.S. and Ph.D. degrees in chemical engineering from the University of Illinois.


He joined General Electric Company (GE) in 1960 and was elected Vice President in 1972 and Vice Chairman in 1979. In 1981, he became the eighth Chairman and CEO in the Company's 121-year history. Mr Welch retired from GE in September 2001.


Mr Welch is a former chairman and a member of both the Business Council and the National Academy of Engineering and is a member of the Business Roundtable.