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Richard Li Tzar-kai

Richard Li Tzar-kai is founder and chairman of Pacific Century Group (PCG), an Asia-based long-term private investment group founded in 1993 with interests in financial services, technology, media and telecommunications (TMT), and property. Li founded PCCW, which later acquired HKT, and the company has business lines in telecommunications, media and IT solutions. He leads the asset management company PineBridge Investments, insurance business FWD Group and runs Hong Kong-based Pacific Century Premium Developments and Singapore-based Pacific Century Regional Developments. Li was awarded the Lifetime Achievement Award by the Cable & Satellite Broadcasting Association of Asia in 2011, and is a member of the Center for Strategic and International Studies' International Councillors Group in Washington.

Born

8 Nov 1966

Industry

Business

Job Title

Chairman, Pacific Century Group

last updated:

7 October, 2024

The asset management arm of US insurer MetLife has agreed to buy PineBridge Investments. Photo: Reuters

Mergers & Acquisitions

MetLife to buy Hong Kong tycoon Richard Li’s PineBridge in asset management push

New York-based insurer’s arm will pay US$800 million for PineBridge, which manages about US$100 billion in assets.

24 Dec 2024 - 10:04AM

IPO

Insurer FWD keeps ‘close eye’ on market amid rumours it will refile for IPO

6 Jun 2024 - 11:16PM

Hong Kong society

Hong Kong’s Li Ka-shing donates HK$120 million to Stanford University

1 Mar 2024 - 11:58PM

Banking & finance

Pacific Century downplays FWD stake sale, says IPO will come at ‘opportune time’

Hong Kong billionaire Richard Li Tzar-kai will retain control of Hong Kong-based insurer FWD Group amid speculation about a potential stake sale. A stock offering will be considered at an opportune time, its major shareholder says.

19 Feb 2024 - 10:15AM

Hong Kong economy

Hong Kong fireworks back with bang as organiser promises National Day spectacular

The 23-minute National Day show will start and end with breathtaking effects, pyrotechnics expert Wilson Mao pledges.

15 Sep 2023 - 10:59PM

IPO

Richard Li-backed insurer FWD postpones Hong Kong IPO plan for second time

FWD, which announced positive six-month results two weeks ago, said it ‘will assess the appropriate time’ to re-file the application, which it first submitted in February 2022.

14 Sep 2023 - 3:33PM

Hong Kong economy

How Hong Kong tycoons in Southeast Asia paved way for more to tap region’s potential

City leader John Lee’s warm welcome in Malaysia, Indonesia and Singapore bodes well for investors.

14 Aug 2023 - 3:37PM

Insurance

Exclusive | How FWD married two of Richard Li’s ‘loves’ to create only home-grown, pan-Asian insurer

A serendipitous meeting more than 10 years ago between a telecoms titan and a former Vietnamese refugee sowed the seeds for an insurance company that today covers against risks in seven countries along the ancient Silk Road.

14 Aug 2023 - 9:30AM

Business of climate change

MTR Lab, Cyberport invest in sustainable Hong Kong logistics start-up alfred24

Hong Kong-based start-up alfred24 has been chosen as the first investee of a collaboration between MTR Lab and tech hub Cyberport to nurture digital and sustainable solutions in the city.

5 Apr 2023 - 4:00PM

Wealth management

Exclusive | Thailand’s wealthiest clan mulls setting up Hong Kong family office

Hong Kong’s government is eager to promote the city as the Asian hub for wealth management and philanthropy, and is poised to unveil incentives on Friday to attract family offices to set up.

22 Mar 2023 - 8:46PM

Banking & finance

Hong Kong to offer goodies on Friday to entice wealthy family offices

The Hong Kong government will announce a slew of measures at a key wealth summit on Friday as it takes aim at Singapore and attract more wealthy people to set up family offices here.

22 Mar 2023 - 10:27AM

Hong Kong plans to unveil a range of policies to attract family offices set up shop in the city. Photo: Yik Yeung-man

IPO

Richard Li-controlled insurer FWD refiles Hong Kong IPO application

FWD Group Holdings on Monday afternoon refiled its application to list on the city’s stock exchange, having postponed its planned listing in May last year due to ongoing market volatility.

13 Mar 2023 - 10:16PMvideocam

Hong Kong reopens

Philanthropy heavyweights expected at Hong Kong’s family-office summit

Hong Kong tycoons Richard Li Tzar-kai and Ronnie Chan Chi-chung, as well as a number of global financial and philanthropic heavyweights, are expected to attend a high-level forum aimed at attracting the world’s biggest family offices to Hong Kong.

7 Mar 2023 - 10:59PMvideocam

Insurance

FWD to buy majority stake in Malaysian life insurer ahead of Hong Kong IPO

FWD and a group of investors will buy a 70 per cent stake in Gibraltar BSN Life from a subsidiary of Prudential Financial. The expansion is part of the insurer’s long-term strategy to expand across Southeast Asia.

20 Feb 2023 - 3:47PM

FWD Group is owned by Hong Kong billionaire Richard Li. Photo: Shutterstock

IPO

Top 6 Hong Kong, mainland China IPOs to watch out for in 2023

Ant Group, ByteDance, Syngenta, Amer Sports, FWD Group and Didi Global among the highly anticipated IPOs this year. Over 100 new listings are expected to raise around HK$200 billion (US$25.6 billion).

3 Jan 2023 - 12:30PM

Pando Finance CEO Ren Junfei at the listing ceremony of their two ETFs on the Hong Kong stock exchange on December 8, 2022. A flurry of IPOs are expected in the city this year. Photo: Handout

IPO

Jack Ma’s Ant Group, Richard Li’s FWD could be among top 10 Asian IPOs in 2023

After a lacklustre year for IPOs globally, 2023 could yield a bumper crop of listings from sectors ranging from insurance to chemicals and electric vehicles.

22 Dec 2022 - 1:40PMvideocam

Accidents and personal safety

Probe into Mirror concert tragedy in Hong Kong may point to criminal negligence

Sources say preliminary findings show ‘criminal elements’ and ‘human negligence’ may be involved.

11 Nov 2022 - 4:00PM

Accidents and personal safety

Hong Kong fans mark birthday of injured Mirror dancer, call for inquiry results

Well-wishers send best wishes to dancer, still in hospital after giant television screen fell on him at July concert.

13 Oct 2022 - 9:11AM

Well-wishers queue outside Still House boutique in Causeway Bay to leave messages of support for a dancer who suffered serious injuries during a concert by boy band Mirror. Photo: Dickson Lee.

Accidents and personal safety

Hong Kong tycoon to provide HK$10 million to dancer injured during Mirror concert

Billionaire Richard Li says he will provide financial support to Mo Li and his family, in addition to covering the performer’s medical fees.

13 Sep 2022 - 10:37AM

Insurance

Fred Ma, former minister and FWD director, appointed chairman of insurer

Ma’s appointment as chairman is expected to help the insurer resume its postponed initial public offering, brokers said.

8 Jul 2022 - 7:00PMvideocam

IPO

FWD puts Hong Kong IPO plan on hold amid persistent market slump

Hong Kong’s Hang Seng Index has fallen 9.3 per cent this year, a slump that deterred companies from raising capital through IPOs, driving the city to sixth place among global IPO destinations in the first quarter.

31 May 2022 - 3:06PM

An undated photo of FWD’s corporate signage. Photo: Shutterstock

Banking & finance

Investors still interested in Singapore-listed SPACs as global fundraising slows

SPACs face a ‘more challenging’ environment amid a slowdown in global fundraising for the investment vehicles, with only three such listings in Singapore this year since new rules were introduced.

19 Apr 2022 - 8:30AMvideocam

A person uses the escalator at the Singapore Exchange’s headquarters. Photo: Bloomberg

IPO

FWD files to list in Hong Kong, completing its switch from New York

FWD’s switch to Hong Kong followed the regulatory roadblock over US concerns about potential risks associated with the Chinese government extending its authority over Hong Kong-based firms.

1 Mar 2022 - 1:32AM

Banking & finance

Richard Li’s FWD could file for US$1 billion Hong Kong IPO as early as Monday

FWD Group Holdings, the Asian insurer backed by Hong Kong billionaire Richard Li Tzar-kai, is close to filing an application for an IPO in the city this year, according to people familiar with the matter.

27 Feb 2022 - 6:50PM

Coronavirus Hong Kong

Hong Kong tycoons are rushing to join Covid-19 fight. Where were they earlier?

Xi Jinping’s call for action cleared one key bottleneck – the Hong Kong government itself and its red tape, claimed an insider in the pro-Beijing camp.

19 Feb 2022 - 8:30AMvideocam

Patients with Covid-19 symptoms wait outside Caritas Medical Centre to be admitted. Photo: Felix Wong

IPO

Exclusive | Hong Kong insurer FWD to drop New York IPO for hometown bourse

Hong Kong is being caught up in the crossfire amid rising geopolitical tensions between the US and China, giving the insurer cause for caution, the source said, citing Didi Global’s decision to delist from the New York Stock Exchange as an example.

14 Dec 2021 - 3:16PMvideocam

FWD is the insurance business of investment group, Pacific Century Group. Photo: Shutterstock

Banking & finance

Hong Kong insurer FWD Group’s US IPO hits potential regulatory roadblock

The Securities and Exchange Commission is asking about potential risks associated with Beijing extending its authority over Hong Kong-based firms, people familiar with the matter said.

21 Oct 2021 - 10:30AMvideocam

Mergers & Acquisitions

Richard Li-backed fintech Hyphen eyes SPAC deal with Provident

Hyphen Group’s merger with blank-cheque company Provident Acquisition could value combined entity at around US$1 billion, say sources.

13 Oct 2021 - 12:48PMvideocam

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