Life after Euro-Asia
ICEA''s Managing Director, Gary Sik talks about the Euro-Asia debacle, and how his firm has reformed itself.
ICEA is the joint venture investment bank that is 75% owned by ICBC and 25% by Bank of East Asia. It was formed in 1998 and for a while was high flying thanks to a string of IPOs for small and mid-cap Chinese P-chips. However, trouble arose when one of the firms it sponsored - the notorious Euro-Asia, controlled by Yang Bin - went bankrupt in Enronesque circumstances, and ICEA was put under the spotlight. ICEA did the IPO for Euro-Asia in 2001. Here the new Managing Director, Gary Sik…
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