AFS is chartered as a (501)(c)(3) not-for-profit corporation in the State of New York. It is supervised and operated by the Board of Directors elected on an annual basis. The Board is composed of Board officers (Chair, Vice Chair, Secretary General and Treasurer) and other board members.

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President Charlie Peng Chairman
EC Member Jack Xu Bank of New York Mellon
EC Member Kewa Luo KIR Advisors
EC Member Arnold Chu OTS/OCC

2017 Board Members

Allen Chang GF Securities
Ling Chen KPMG LLP
Shan Chen CubeTech Global Asset
Arnold Chu OTS/OCC
Morgan Jones US-China Strong Foundation
David Liu Bank of Communications, NY Branch
Yiting Liu Coalescence Partners
Kewa Luo KIR Advisors LLC
Frank Mah Transnational Capital Corp.
Charlie Peng Bank of china
Francis Sheng Garden Capital Partners
Jinfeng Tang Deutsche Bank
Qin Wang Kiski Group
Tracy Wan Fitch Ratings
Wei Zhao Seatig Inc.
Jie Xiu  Becker Poliakoff
Jack Xu Bank of New York Mellon Corporation
BlakeZhang HNA Capital Group


Allen Chang
Allen Chang is currently a Vice President in the Department of Credit Risk Management at Morgan Stanley. He leads a team of credit analysts on the corporate lending side responsible for monitoring and evaluating a portfolio comprised of loans and derivatives, and performing credit analysis for various lending opportunities including relationship lending, LBOs, M&A, Recapitalization, DIP, and exit financing. Mr. Chang joined the bank in 2007 from Barclays Capital, where Mr. Chang was a credit risk manager responsible for a portfolio of investment grade and high yield credit for over 50 counterparties in various industries including telecommunications, entertainment & media, manufacturing, information technology, consumer goods, and retail. Mr. Chang graduated from Emory University in Atlanta with an MBA degree.


Arnold Chu
Mr. Chu has over 30 years of experience in the capital market financial world. Mr. Chu has provided leadership and visions within major financial firms: Bear Stearns, Schroders, and GMAC. At GMAC, he grew from his initial role as the business risk officer for GMAC RFC Securities to oversee the market/credit risk of the GMAC RFC Capital Market. In 2010, Mr. Chu broadened his experience in the governance and regulatory arena by joining the US Treasury Department – OTS. He supervised banks in the northeast region in the role of a capital market expert. In 2011, Mr. Chu moved to the Federal Housing Finance Agency where he supervises the housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.


Blake Zhang
Blake Zhang is currently Deputy Chief Investment Officer at HNA Capital Group Co., LTD. Prior to that, he was a Vice President at Deutsche Bank Securities Asset & Wealth Management division. He used to work as an Associate Director at Daiwa Capital Markets America on proprietary trading desk’s market risk management from firm-wide corporate level and individual trader’s perspective. Prior to Daiwa, Blake had five years with JP Morgan Chase on modeling and analytical works in credit lending risk management. Further back, had eight years (1994-2001) in private equity industry in Singapore Pan Pacific Investment Group where he had $175 million transactional experience on 15 deal closed out of 150 businesses in various sectors such as real estate, consumer electronics, telecommunication and industrial product across the greater China area and North America region. Blake also had less than 2 years working in China MOFTEC system (today’s China Ministry of Commerce).
Blake Zhang was originally from Beijing, China. He graduated with MBA degree from NYU (Stern), MSc from National U. of Singapore and BSc from UIBE in Beijing. With over 20 years of experience across China, Singapore and USA markets, Blake is enriched with hands-on skills and professional experience to diagnose businesses from multiple angles and with various solutions on issues.


Charlie Peng
Mr. Charlie Peng is currently a Senior Vice President and head of Market Risk Management Department at Bank of China USA. His group is primarily responsible for overseeing the bank’s trading book market risk, and also the interest rates and liquidity risk in the banking book.Prior to that, he was a director in Global Risk Oversight group at American Express. His team is mainly responsible for financial & treasury risk modeling, market risk oversight, asset liability and liquidity risk management validation. Before that, he worked as a vice president at Bank of America Merrill Lynch in its Global Banking and Markets risk management group covering fixed income trading.  He was primarily responsible for risk management in interest rates and foreign currency, credit and distressed assets and their derivatives trading. He worked in the middle office and finance areas at Merrill Lynch, where he led a team covering the risk, profit & loss and other operations of global currency and emerging markets business. He worked at Bank of America Merrill Lynch for nearly 10 years.Prior to joining Bank of America Merrill Lynch, he worked at Deloitte & Touche LLP as consultant in financial derivatives valuation and auditing advisory. Before that, he was a vice president of Investment Banking Department at China Merchants Securities Co. Ltd. Shanghai branch, responsible for equity IPO, merger & acquisition and other corporate financing business. He also worked as senior project manager of Investment Banking Department in Zhejiang Jinhua Trust and Investment Co.
Mr. Peng is a CFA Charter holder. He holds Master of Computer Science from State University of New York at Binghamton, Master of Economics at Fudan University and Bachelor of Economics at Nankai University. He has been a board member of Asian Finance Society since 2013. He was a leader and then an honorary vice president of Fudan University Alumni Association USA. He was quoted in media such as CCTV, China Business News, 21st Century Herald and China Daily.


David Liu
Mr. David Liu is the head of risk management department at Bank of Communications New York Branch.  Previously he had worked at JP Morgan, Deutsche Bank and ICBC on different positions including market risk manager, private banker, floor trader, financial controller, IPV specialist, etc. for over two decades.  David received his MS on Finance from Texas Tech University, and BS on Finance from SWUFE.  David joined AFS in 2001.  He has been an elected board member since 2004.

Frank Mah

Frank Mah
Frank Mah is a Managing Director at Transnational Capital Corp. (TCC), a New York City-based investment bank focused on raising private equity and debt capitals, providing M & A advisories, for emerging growth companies in China, the Americas and Europe.  Frank has extensive experience in both the equity and high yield fixed income markets.  His professional experience in Asia included China, Taiwan, Korea, Hong Kong and Macau.  Prior to joining TCC, Frank held senior positions at global investment banks that included Lehman Brothers, Citibank, and Nomura Securities International.  He started his career in Research at Donaldson Lufkin and Jenrette where he covered the Gaming, Lodging, and Food Retailing sectors. Frank was voted by investors into Institutional Investor Magazine’s All American Research Team in Gaming.  He was born in Hong Kong and learned to speak Putonghua in New York City. Frank earned his MBA in Finance from Stanford University Graduate School of Business.

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Francis Sheng
Mr. Sheng is co-founder and partner at Garden Capital Partners, an real estate advisory and investment firm where he is responsible for investment strategy, deal approval, investor relations and deal underwriting efforts.  Mr. Sheng has over 15 years of finance and commercial real estate experience.Previously, Mr. Sheng was the finance director for GE Capital Real Estate’s US Equity business, a $15+ Billion equity portfolio and 800+ properties.  He was responsible for pricing and structuring of $5 Billion in new investments and the disposition of $4 Billion.  Prior to GE he directed business development for China Resources National Corp, one of the country’s largest real estate development and investment firms.Mr. Sheng holds an MBA from the University of South Carolina and a BA in Diplomacy and Business from China Foreign Affairs College.  He now lives and works in the New York metropolitan area.

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Jie Xiu
Jie Xiu is a shareholder of the corporate and securities practice at Becker & Poliakoff. Her practice focuses on corporate, securities, mergers and acquisitions and a broad range of business and commercial matters. Jie represents complex, high-profile M&A and securities offering projects across the globe, including East and Southeast Asia, Europe and North America. Clients she has represented include multinational corporations and high-net-worth individuals in transactions ranging from billion dollar M&A transactions to start-up financings. She also represents a large number of Chinese companies in their listings on NASDAQ, NYSE and OTC Markets through IPO and RTO, in their public and private offerings of debt and equity securities, commercial transactions and compliance with securities laws. Her client base encompasses various industries including telecommunications, manufacturing, consumer products, real estate, retail and fashion, education, advertising, investment banking, financial services, pharmaceutical and biotech, energy and maritime industry. Prior to joining the Firm, Jie was Counsel of Locke Lord LLP. Her awards and recognition include New York “Rising Star” from 2011 to 2016 in the Corporate and Business section by Super Lawyer Magazine, a Thomson Reuters Service; “Top Women Attorneys in the New York Metro Area” in the Merger and Acquisition section, New York Times Magazine 2012-2016; 2014 Awardee of the Outstanding 50 Asian Americans in Business Awards, a most prestigious and still the only forum to highlight the achievements of Asian Americans across the United States; and the recipient of the Outstanding Contribution to AFS Board Award in 2014.

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Jack Xu
Jack Xu, CPA and CGMA, has over 20 years of professional experience in financial service and public accounting industries. He is currently a Director in the Regulatory Reporting and Policy Group at Bank of New York Mellon Corporation where he manages Basel and Volcker related regulatory reporting and policy advisory functions. Prior to this managerial role, Jack held VP position in Accounting Policy, SEC Reporting and Risk Management departments at Morgan Stanley between 2007 and 2015. He also has worked more than seven years in Merrill Lynch and Citigroup where he managed various critical Finance functions such as legal entity control, management reporting, broker/dealer accounting, and SEC reporting. Prior to working in Wall Street, Jack was a senior auditor at PricewaterhouseCoopers’ New York office between 1997 and 1999.Jack received MBA degree in Finance and BBA degree in Accounting from Baruch College, City University of New York. He is a Certified Public Accountant and a Chartered Global Management Accountant. Currently he is the Head of Accounting, Auditing and Taxation Group at Asian Financial Society.

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Kewa Luo

Kewa is a proven investor relations professional, particularly with U.S.-listed Chinese companies.  She began her career in 2006 as the Investor Relations Manager of China Security & Surveillance Technology Inc.(CSR), a Chinese company cross-listed in the US and Dubai, where she launched and managed the corporate communications and investor relations function.  In late 2009, she became a VP at China US Venture Capital Group, where she assisted private Chinese companies to go public in the U.S. via an RTO or APO.In 2011, Kewa fulfilled her entrepreneurial ambitions when she started her own IR practice.  KIR Advisors LLC facilitates going-public, after-market support and equity/debt financing services for emerging growth and small-to medium-sized companies across various industries.  A key client is Kandi Technologies Group, Inc. (NASDAQ GS: KNDI), where she serves as its VP and Head of Public Relations.Kewa documented her rise to the pinnacle of the investor relations industry in her acclaimed book, Wall Street Girl.  The first run was published in May 2013 by Economy & Management Publishing House in Beijing, with a second printing done in January 2014.Kewa received her B.A. in Communication Studies and Journalism Multimedia Arts, and her M.S. in Journalism Multimedia Technology from Duquesne University in Pittsburgh, Pennsylvania.

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Ling Chen
Ling is a Tax Managing Director of KPMG’s Financial Service Group. Ling brings extensive experience in providing tax services to the Firm’s Financial Services clientele with emphasis on tax compliance and planning for investment partnership, investment advisors, private equity funds, domestic and foreign hedge funds, fund of funds, investment partnership management companies and general partner entities. Ling also works extensively with multinational companies on cross-border structuring and tax compliance matters.
Ling has over 16 years of experience in the tax profession including four years with Deloitte & Touche. She also worked as a tax manager and a tax vice president for two hedge/private equity funds that managed large Private Equity Funds, Hedge Funds, U.S. Recovery Funds, European Mezzanine Funds, CDO, Mutual Fund and Fund of Funds, both located in New York.
s a Bachelor of Science degree in accounting and earned her Master of Science degree in taxation from Fairleigh Dickinson University.  She is a certified public accountant in New Jersey, a member of the American Institute of Certified Public Accountants (AICPA) and the New Jersey State Society of Certified Public Accountants (NJSCPA).


Morgan Jones

Morgan A. Jones is Chief Operating Officer of the US-China Strong Foundation. Previously, Mr. Jones was Senior Emergency Management Specialist at NYU Langone Medical Center. Mr. Jones also served at the NYC Mayor’s Community Affairs Unit (CAU) and the Mayor’s Office of Housing Recovery under Mayors Michael R. Bloomberg and Bill de Blasio from 2010-2015. Mr. Jones was also the YMCA of Greater New York’s membership and marketing coordinator in their Flushing, Queens branch. While living in China, Mr. Jones was a Chinese-language radio show host for three years for a Jazz-related lifestyle program called Soulfire and performed as a Hip-hop and R&B vocalist nationwide. Mr. Jones obtained his Master of Business Administration from Cornell University’s Johnson Graduate School of Management, his Bachelor of Arts in Chinese Language and Literature from Middlebury College, and holds a graduate certificate from the Hopkins-Nanjing Center.


Qin Wang
Qin Wang, Ph.D, is currently Director of investment and risk in Kiski group with the main responsibility of advising hedge fund clients on investment process, risk management, performance attribution, new product development and communication with institutional investors. Prior to that Qin was an associate director at AIG with focus on investment risk in asset management unit. Prior to joining AIG in May of 2011, Dr. Wang held VP position in Mizuho securities and analyst position in Maverick Capital with focus on risk management and quantitative research in fixed income and equity investment and portfolio management. He also had various consulting and internship experience with Eastman Chemical, Federal Reserve Bank of Dallas and International capital management etc. Dr. Wang graduated from Dalian University of Technology in China with a B.A. in Business. He also received a M.A. in Economics with honors and a Ph.D. in Financial Economics from Southern Methodist University where he was a member of Omicron Delta Epsilon National Economics Honor Society and was the recipient of a full four-year Teaching Assistant Scholarship.


Shan Chen

Mr. Shan Chen is an entrepreneur with over 15 years of experience in alternative investment industry. He is well versed in private funds risk, compliance, and operations. Currently Mr. Chen is the head of US operations for CubeTech Global Asset, a full service solutions provider for cross-border investments, headquartered in Beijing, China. Prior to CubeTech, Mr. Chen was co-founder of the financial technology firm ConceptONE. He served as CTO and head of analytics at CocneptONE. Under his leadership, the company grew its offerings to a full range of managed services including risk, compliance, middle-back office, and advisory with over 100 clients around the world. ConceptONE was recently acquired by a leading FinTech firm Axioma. Earlier in his career, Mr. Chen has been providing technology innovation and solutions to many major financial firms such as Chase Manhattan Bank and Deutsche Bank. He and his group were always the earliest to embrace new technologies in many of his business engagements. Mr. Chen holds a Master’s degree in Engineering from Unversity of Toledo and a Bachelor’s degree in Engineering from Tongji University.


Sam Van
With more than 15 years of experience in financial services, Sam’s professional career is dedicated to new business development and relationship building, specializing in the emerging capital markets throughout Asia and the U.S. During his tenure at the New York Stock Exchange (NYSE), Sam spent nine years in regulatory compliance and six years cultivating strong business relationships. He successfully secured the listings of more than 46 companies on the NYSE with total market capitalization exceeding $5 billion.Sam is currently an investor to three startup companies in New York and Silicon Valley and consultants to the companies’ founders. Sam also serves as board member to the Asian Financial Society, a non-profit organization, which assists Chinese company executives to understand the U.S. capital market, and serves as a senior advisory member to OneVietnam Network, a non-profit organization, which helps build Vietnamese communities in the U.S. and abroad.Sam is fluent in Cantonese and has working knowledge of Mandarin and Vietnamese. He received a B.S. in Finance from St. Johns University, and received his MBA at Cornell University, S.C. Johnson Graduate School of Management.

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Tracy Wan
Yingling (Tracy) Wan, CFA, is currently a Senior Director with Fitch Ratings, leading the rating process for ABS transactions backed by consumer assets. Her responsibilities include overseeing day-to-day operation of consumer ABS group, chairing rating committees, leading projects in enhancing rating methodology and process, and providing timely commentaries to market in response to credit events or market changes.
Prior to Fitch, Tracy spent a few years with Citigroup in its card service group, primarily in risk management function. As a credit policy manager, she first managed pre-approved acquisition channel and subsequently supervised the balance growth program for Citi’s largest bankcard portfolio with over $60 billion receivables. Her work focused on portfolio segmentation, loss forecasting and tracking, profit & loss analysis, policy evaluation and enhancement.
Tracy also had seven-year working experience in China in various functions of marketing and internal auditing.
Tracy received her MBA from Yale University and BA from University of International Business and Economics in Beijing. She is a CFA charter holder and a Chinese CPA. Tracy was Chairwoman for Asian Financial Society in 2011 and one of the Co-Chairs in 2012.

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Yiting Liu
iting is a partner and the COO of Coalescence Partners, a U.S. based investment management company.  Yiting was previously a co-founding partner of HuiEn Capital and advised Chinese institutions and family offices looking to invest in the United States and/or to join ventures with U.S. institutions.  Prior to HuiEn, Yiting was a co-founder of Ray Shi Capital, an investment management company focused on small- and mid-cap Chinese equities.  Prior to Ray Shi Capital, Yiting focused on the investment and management of Vision Opportunity China Fund as the Vice President of Greater China.  Yiting had also worked at PepsiCo’s corporate strategy and development group and the Boston Consulting Group.  Yiting graduated from Harvard with honors in Applied Math with an Applied Field in Economics.   Yiting is a Board Member of the Asian Financial Society.

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Wei Zhao
Managing Director, Seatig Inc.
Board Director, Asian Financial Society
Seatig Inc. is a software technology and consulting firm for Wall Street companies and financial application consulting and development for companies in other industries. As a Managing Director of Seatig, Wei is involved with account management, project management, and team management. Wei offers a nonparallel combination of technical knowledge, financial knowledge, strategic planning insights, business management capabilities, and problem solving skills to each engagement.Prior to Seatig, she worked in Wall Street companies such as Bear Stearns and Platinum Grove Asset Management (a 6-billion dollar hedge fund). At Bear Stearns, she was responsible for developing Bear Stearns’ firm-wide counterparty credit risk analysis system covering across a variety of financial products such as Equity, FX, Mortgage, Credit Derivatives, Interest Rate Derivatives, Energy, and Repo. At Platinum, she was a risk analyst in the firm-wide risk control group, developing risk analytical software (stress loss testing and scenario analysis) and performing day-to-day risk analysis and aggregations. Before she worked on Wall Street, she had been an intern computer scientist in IBM T. J. Watson Research Center researching business process model transformation, analysis, and optimization.Wei holds a Ph.D. of Computer Science and has 28 publications in software engineering including a book titled “Software Reuse and Industrialization” which can be purchased through Amazon for $107. Wei is actively serving Board Director of Asian Financial Society (AFS) since 2015, and Head, Financial IT & Outsourcing of AFS 2009-2014. She was the Vice-chair of Columbia University Asia-Pacific Development Society (CUASIA) 2010-2015. She was awarded “Outstanding 50 Asian Americans in Business” in 2012 by Asian American Business Development Center in New York.