Online Class Notes (Ally)

“Made it simple, but significant,” has always been my favorite quote from Mad Men. It resonates with much of what my dad had told me in front of his bookshelves.

My dad is an orthopedic surgeon. I still remember how overwhelmed I was when I took my first glance at his bookshelves. At 10 years old, terms like “anatomy”, “physiology” and “orthopedics” were all written in the familiar Chinese language yet still beyond my comprehension at that time.
“Is your job to memorize all these?” I asked my dad, “Not just memorize, I translate them for those in need, so they won’t be as confused as you are right now.” My dad went on to explain to me that patients are not just machines that need repair. They also seek explanation, comfort and hope beyond a medical diagnosis, which is simple in words, but significant to make a difference to their lives.

During my internship at AXA, I witnessed how insurers, young and elderly, got frustrated by the large selection of insurance products. Some of my clients even thought we had intentionally created confusion for higher commissions. To make my clients understand, I became a translator just like my dad, pushing myself to master all the terminologies and translating them into the simplest words. AXA introduced me to the world of finance and made me understand that some industries by nature are more complex than the others. This complexity often – and is sometimes even purposefully abused to – create a chasm between the world of finance and the general population.

I am determined to break down the barriers of the incomprehensible and unlock the prospects hidden in the mathematics/numbers.

However, it was not until I joined sales department at Bloomberg when I discovered an even higher level of complexity. In 2018, China opened its fixed income market to global investors through Bond Connect (BC) program. As the account manager covering the majority of domestic bond traders, I shouldered the task of introducing our enterprise solution to them. The market space is estimated to be more than $100 million, but my task was harder than anyone had anticipated. The geopolitical tension and China’s new cyber security law have raised local clients’ concerns in considering a US partner. While this could be resolved by data localization, the discrepancy between the financial markets of the US and China has raised a huge knowledge gap for global management to proceed with localization. We were about to lose the race for early market shares to our competitors offering similar solutions at a lower cost.

For the next four months, I had endless back-to-back meetings with Hong Kong, London and New York, carefully crafting my words to different stakeholders. To the senior managers at Bloomberg, I quantified the ROI, which showed a steadily increasing profit that would pay off their investments in both the short and the long term. To domestic clients, I differentiated our product from that of our competitors, explaining that we are the only platform bridging them with thousands of offshore investors. I also reaffirmed our strong relationship with local policy maker to erase clients’ pressing concerns on geopolitical tension. I learnt that an effective communication is based not only on feelings, but on careful analysis of each party’s needs. By stepping into their shoes, I created various narratives for the same product, simple in words, but significant enough to change their perception in the end.

Finally, I closed the first deal of BC solution to a tier-one bank in China, establishing the flagship among institutions looking for the similar solution, and setting the best practice for other sales. By 2020, we achieved a revenue of $60 million from the BC program, making Bloomberg a key driver and a must-have solution for bond internationalization in China.

Three years ago, Chinese central bank PBOC launched a three-year program supporting fintech development in Shanghai, but today there still isn’t a Chinese “Bloomberg” on the global stage. Given the rapid development of technology in China, I found this lack of domestic players very questionable. I was inspired to look for an answer at the fast-growing domestic company DataYes.

In the past four months at DataYes, I redefined its value proposition by breaking down its narratives for various player types. I also partnered with our CEO and other leaders to improve the company’s cross-department effectiveness, managing the disruptive process of standardizing an organization. By sitting closely with the executives, I witnessed their struggles in running a fast growing company day-to-day. Our company will go public in three years and had just acquired a $100 million funding from a leading investment firm. Though promising in blueprint, in reality we are still fighting to balance both short-term profitability and long-term sustainability, and to create synergy for more than 500 people across eight departments and four cities.

While fintech is a rising industry in China, it is short of talent that knows how to manage these companies more effectively once they reach a certain scale. Most of the founders are high achievers in either finance or technology, but they lack the necessary experience in both fields…. to handle tough conversations beyond their profession and the overarching insights to acquire a comprehensive view on the financial market in China.

While my past experiences have equipped me with the essential skillsets to excel in my current career path, I need to fasten my learning in general management, and develop a strategic mindset not just in leading a deal, but in leading a product-based company. Only then can I become a true communicator that makes a difference in the industry./who can make a mark in this industry.

Five years ago, I packed my luggage in my apartment at midtown Manhattan and took a flight to Beijing. I could not stand being just an audience from thousands miles away watching the fast-progressing Chinese market. Now that I have acquired far more perspective on China, I still believe it’s the best playground for adventurers to erase the boundaries and reset the rules.  So today, five years later, I .. . significant.