Mega Financial union demands change of chairmanCOMPLIANCE: Overly strict money laundering measures under Michael Chang’s leadership have driven away clients and affected employees’ interests, the union saidBy Crystal Hsu / Staff reporterMega Financial Holding Co’s (兆豐金控) workers’ union yesterday called on the government to replace the company’s chairman, Michael Chang (張兆順), with a candidate who could boost the group’s earnings ability and employee morale. Mega Financial Holding Co workers protest against the company’s management team at the annual shareholders’ meeting in Taipei yesterday. Photo: Lee Chin-hui, Taipei TimesThe union added that it had conveyed its wishes to the Ministry of Finance, which has a decisive say on who may steer the bank-focused conglomerate given its dominant stake in Mega Financial. Chang took over the helm of Mega Financial after his predecessor stepped down to take responsibility for more than US$200 million in fines from US financial regulators for anti-money laundering compliance failures at its US banking branches in 2016 and 2018. The shareholders’ meeting approved a proposal to distribute cash dividends of NT$1.65 per share from last year’s earnings.
